Extruded Snacks Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Extruded Snacks Market
The extruded snacks market size was valued at USD 56.08 billion in 2023, and the market is now projected to grow from USD 59.15 billion in 2024 to USD 91.81 billion by 2032, exhibiting a CAGR of 5.65% during the forecast period of 2023-2032.
The pandemic became unprecedent and dragged people into an unknown situation like lockdowns and travel restrictions. The snack industry, extruded snack segment, in particular, benefited from the extra demand at all regions in comparison to those pre-pandemic levels. The covid-19 pandemic was faced by the snacks' inventory with unexpected changes. At the beginning of a lock-down shoppers went into panic-buying mode resulting in an increase of consumers' purchasing power of the convenience products across all the retail channels with some of these including snacks. Albeit, because of reconsiderations by consumers in regards to safety and quality of processed foods they ultimately put their money on buying ingredients from stores lying next door and/or think cooking at home. Thus boosting the extruded snacks market growth.
The snack industry develops new possibilities for the manufacturers to come up with more modern methods and technologies of preserving and processing foods and new varieties of fast foods. The development of more nutritious products is also accompanied by the innovation of food processing technologies including multi-grain, low fat and chemical free product development. The expanded category has already become the segment rule and through time there are some noticeable trends by the industry. Food innovation seems to play a central role in that as more and more consumers are turning towards healthy options, tasty and unique flavors. These factors drive the extruded snacks market share.
The ever-increasing trend of convenience, fast, pre-packed foods and snacking is one of the major growth pushing factors. The upsurge of the population entering the formal working sector and functioning under extreme jobs due to their stressful and fast-paced lifestyles primarily driving the demand for immediate food products that result in the relaxation of cravings in such a busy environment. Energy bars are portable, convenient packs that give a little burst of energy in a busy working day. The millennial tit-bit trend comes into existence because of convenience and agglomerate snack products which are designed for several eating times. The cereal-based savory snacks category can be said to be on a roll at store counters because they are generally better for health in addition to being tasty.
Comprehensive Analysis of Extruded Snacks Market
The extruded snacks market and food & beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the food & beverages industry. These segmentations are methodically segregated By Product Type Analysis and By Distribution Channel Analysis. In accordance with the product variety, the market is divided into corn, wheat, potato, rice and others The extensive consumption of corn-based snacks results in them leading the market. Corn is the basic component for many chips and bars that are obtained as a result of extrusion process. As a matter of distribution channels, the market is categorized in three types such as supermarkets/hypermarkets, specialty stores, convenience stores, and online retail. As for the highest shares among other target groups, it is expected to be the case in the case of supermarkets and hypermarkets because of their easy accessibility of a wide range of products.
The market in the Asia Pacific is expected to grow at a significant CAGR attributed to its flourishing food processing industry. The growing free-spending character among consumers has put the pressure on the food marketers to do the research and develop more appealing products. The ever-growing urbanization and the increasing demand of snack foods from developing markets of India, China, Malaysia and Indonesia are anticipated to fuel the market size. This customer group that is getting bigger on the one hand and its preferences towards flavor and trends are the drivers of the growing market in the region.
The top players in the market play a crucial role in the food & beverages industry assuring industrial prospectus growth and setting market standards. These players include, PepsiCo, Inc. (New York, U.S.), Calbee, Inc. (Tokyo, Japan), Kellogg Company (Michigan, U.S.), Campbell Soup Company (New Jersey, U.S.), General Mills, Inc. (Minnesota, U.S.), ITC Limited (Kolkata, India), Grupo Bimbo (Mexico City, Mexico), Mondelez International (Illinois, U.S.), JFC International (California, U.S.) and Lorenz Snack World (Neu-Isenberg, Germany).
In May 2023, Reliance Retail Ventures Limited who is one of the famous retail chains in India stated that the company plans to launch Alan’s Bugles in India. Alan’s Bugles is the British and Middle Eastern regional snack which is sold as the potato chip substitute. Hence, this launch becomes a stepping stone for company's footprints to conquer the Indian consumer products market.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 5.65% from 2024-2032
Unit Value (USD Billion)
Segmentation By Product Type
Corn
Wheat
Potato
Rice
Others
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Online Retail
By Geography
North America (By Product Type, Distribution Channel, and Country)
- U.S. (By Product Type)
- Canada (By Product Type)
- Mexico (By Product Type)
Europe (By Type, Distribution Channel, and Country)
- U.K. (By Product Type)
- France (By Product Type)
- Germany (By Product Type)
- Italy (By Product Type)
- Spain (By Product Type)
- Rest of Europe (By Product Type)
Asia Pacific (By Type, Distribution Channel, and Country)
- China (By Product Type)
- India (By Product Type)
- Japan (By Product Type)
- Australia (By Product Type)
- Rest of Asia Pacific (By Product Type)
South America (By Type, Distribution Channel, and Country)
- Brazil (By Product Type)
- Argentina (By Product Type)
- Rest of South America (By Product Type)
Middle East and Africa (By Type, Distribution Channel, and Country)
- UAE (By Product Type)
- Saudi Arabia (By Product Type)
- Rest of the Middle East & Africa (By Product Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Supply Chain Analysis
- 4.3. Industry SWOT Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.5. Impact of COVID on Supply Chain of Extruded Snacks Market
- 5. Global Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Product Type (Value)
- 5.2.1.1. Corn
- 5.2.1.2. Wheat
- 5.2.1.3. Potato
- 5.2.1.4. Rice
- 5.2.1.5. Others
- 5.2.2. By Distribution Channel (Value)
- 5.2.2.1. Supermarkets/Hypermarkets
- 5.2.2.2. Convenience Stores
- 5.2.2.3. Specialty Stores
- 5.2.2.4. Online Retail
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Product Type (Value)
- 6.2.1.1. Corn
- 6.2.1.2. Wheat
- 6.2.1.3. Potato
- 6.2.1.4. Rice
- 6.2.1.5. Others
- 6.2.2. By Distribution Channel (Value)
- 6.2.2.1. Supermarkets/Hypermarkets
- 6.2.2.2. Convenience Stores
- 6.2.2.3. Specialty Stores
- 6.2.2.4. Online Retail
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S
- 6.2.3.1.1. By Product Type (Value)
- 6.2.3.1.1.1. Corn
- 6.2.3.1.1.2. Wheat
- 6.2.3.1.1.3. Potato
- 6.2.3.1.1.4. Rice
- 6.2.3.1.1.5. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Product Type (Value)
- 6.2.3.2.1.1. Corn
- 6.2.3.2.1.2. Wheat
- 6.2.3.2.1.3. Potato
- 6.2.3.2.1.4. Rice
- 6.2.3.2.1.5. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Product Type (Value)
- 6.2.3.3.1.1. Corn
- 6.2.3.3.1.2. Wheat
- 6.2.3.3.1.3. Potato
- 6.2.3.3.1.4. Rice
- 6.2.3.3.1.5. Others
- 7. Europe Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Product Type (Value)
- 7.2.1.1. Corn
- 7.2.1.2. Wheat
- 7.2.1.3. Potato
- 7.2.1.4. Rice
- 7.2.1.5. Others
- 7.2.2. By Distribution Channel (Value)
- 7.2.2.1. Supermarkets/Hypermarkets
- 7.2.2.2. Convenience Stores
- 7.2.2.3. Specialty Stores
- 7.2.2.4. Online Retail
- 7.2.3. By Country (Value)
- 7.2.3.1. U.K.
- 7.2.3.1.1. By Product Type (Value)
- 7.2.3.1.1.1. Corn
- 7.2.3.1.1.2. Wheat
- 7.2.3.1.1.3. Potato
- 7.2.3.1.1.4. Rice
- 7.2.3.1.1.5. Others
- 7.2.3.2. France
- 7.2.3.2.1. By Product Type (Value)
- 7.2.3.2.1.1. Corn
- 7.2.3.2.1.2. Wheat
- 7.2.3.2.1.3. Potato
- 7.2.3.2.1.4. Rice
- 7.2.3.2.1.5. Others
- 7.2.3.3. Germany
- 7.2.3.3.1. By Product Type (Value)
- 7.2.3.3.1.1. Corn
- 7.2.3.3.1.2. Wheat
- 7.2.3.3.1.3. Potato
- 7.2.3.3.1.4. Rice
- 7.2.3.3.1.5. Others
- 7.2.3.4. Italy
- 7.2.3.4.1. By Product Type (Value)
- 7.2.3.4.1.1. Corn
- 7.2.3.4.1.2. Wheat
- 7.2.3.4.1.3. Potato
- 7.2.3.4.1.4. Rice
- 7.2.3.4.1.5. Others
- 7.2.3.5. Spain
- 7.2.3.5.1. By Product Type (Value)
- 7.2.3.5.1.1. Corn
- 7.2.3.5.1.2. Wheat
- 7.2.3.5.1.3. Potato
- 7.2.3.5.1.4. Rice
- 7.2.3.5.1.5. Others
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Product Type (Value)
- 7.2.3.6.1.1. Corn
- 7.2.3.6.1.2. Wheat
- 7.2.3.6.1.3. Potato
- 7.2.3.6.1.4. Rice
- 7.2.3.6.1.5. Others
- 8. Asia Pacific Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Product Type (Value)
- 8.2.1.1. Corn
- 8.2.1.2. Wheat
- 8.2.1.3. Potato
- 8.2.1.4. Rice
- 8.2.1.5. Others
- 8.2.2. By Distribution Channel (Value)
- 8.2.2.1. Supermarkets/Hypermarkets
- 8.2.2.2. Convenience Stores
- 8.2.2.3. Specialty Stores
- 8.2.2.4. Online Retail
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Product Type (Value)
- 8.2.3.1.1.1. Corn
- 8.2.3.1.1.2. Wheat
- 8.2.3.1.1.3. Potato
- 8.2.3.1.1.4. Rice
- 8.2.3.1.1.5. Others
- 8.2.3.2. India
- 8.2.3.2.1. By Product Type (Value)
- 8.2.3.2.1.1. Corn
- 8.2.3.2.1.2. Wheat
- 8.2.3.2.1.3. Potato
- 8.2.3.2.1.4. Rice
- 8.2.3.2.1.5. Others
- 8.2.3.3. Japan
- 8.2.3.3.1. By Product Type (Value)
- 8.2.3.3.1.1. Corn
- 8.2.3.3.1.2. Wheat
- 8.2.3.3.1.3. Potato
- 8.2.3.3.1.4. Rice
- 8.2.3.3.1.5. Others
- 8.2.3.4. Australia
- 8.2.3.4.1. By Product Type (Value)
- 8.2.3.4.1.1. Corn
- 8.2.3.4.1.2. Wheat
- 8.2.3.4.1.3. Potato
- 8.2.3.4.1.4. Rice
- 8.2.3.4.1.5. Others
- 8.2.3.5. Rest of Asia Pacific
- 8.2.3.5.1. By Product Type (Value)
- 8.2.3.5.1.1. Corn
- 8.2.3.5.1.2. Wheat
- 8.2.3.5.1.3. Potato
- 8.2.3.5.1.4. Rice
- 8.2.3.5.1.5. Others
- 9. South America Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Product Type (Value)
- 9.2.1.1. Corn
- 9.2.1.2. Wheat
- 9.2.1.3. Potato
- 9.2.1.4. Rice
- 9.2.1.5. Others
- 9.2.2. By Distribution Channel (Value)
- 9.2.2.1. Supermarkets/Hypermarkets
- 9.2.2.2. Convenience Stores
- 9.2.2.3. Specialty Stores
- 9.2.2.4. Online Retail
- 9.2.3. By Country (Value)
- 9.2.3.1. Brazil
- 9.2.3.1.1. By Product Type (Value)
- 9.2.3.1.1.1. Corn
- 9.2.3.1.1.2. Wheat
- 9.2.3.1.1.3. Potato
- 9.2.3.1.1.4. Rice
- 9.2.3.1.1.5. Others
- 9.2.3.2. Argentina
- 9.2.3.2.1. By Product Type (Value)
- 9.2.3.2.1.1. Corn
- 9.2.3.2.1.2. Wheat
- 9.2.3.2.1.3. Potato
- 9.2.3.2.1.4. Rice
- 9.2.3.2.1.5. Others
- 9.2.3.3. Rest of South America
- 9.2.3.3.1. By Product Type (Value)
- 9.2.3.3.1.1. Corn
- 9.2.3.3.1.2. Wheat
- 9.2.3.3.1.3. Potato
- 9.2.3.3.1.4. Rice
- 9.2.3.3.1.5. Others
- 10. Middle East & Africa Extruded Snacks Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Product Type (Value)
- 10.2.1.1. Corn
- 10.2.1.2. Wheat
- 10.2.1.3. Potato
- 10.2.1.4. Rice
- 10.2.1.5. Others
- 10.2.2. By Distribution Channel (Value)
- 10.2.2.1. Supermarkets/Hypermarkets
- 10.2.2.2. Convenience Stores
- 10.2.2.3. Specialty Stores
- 10.2.2.4. Online Retail
- 10.2.3. By Country (Value)
- 10.2.3.1. Saudi Arabia
- 10.2.3.1.1. By Product Type (Value)
- 10.2.3.1.1.1. Corn
- 10.2.3.1.1.2. Wheat
- 10.2.3.1.1.3. Potato
- 10.2.3.1.1.4. Rice
- 10.2.3.1.1.5. Others
- 10.2.3.2. UAE
- 10.2.3.2.1. By Product Type (Value)
- 10.2.3.2.1.1. Corn
- 10.2.3.2.1.2. Wheat
- 10.2.3.2.1.3. Potato
- 10.2.3.2.1.4. Rice
- 10.2.3.2.1.5. Others
- 10.2.3.3. Rest of Middle East & Africa
- 10.2.3.3.1. By Product Type (Value)
- 10.2.3.3.1.1. Corn
- 10.2.3.3.1.2. Wheat
- 10.2.3.3.1.3. Potato
- 10.2.3.3.1.4. Rice
- 10.2.3.3.1.5. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Extruded Snacks Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. PepsiCo., Inc.
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Calbee, Inc.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Kellogg Company
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Campbell Soup Company
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. General Mills, Inc.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. ITC Limited
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Grupo Bimbo
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Mondelez International
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. JFC International
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Lorenz Snack World
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Strategic Recommendations
- 14. Appendix
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