Snack Pellet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Snack Pellet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global snack pellet market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.74% during 2022-2028.

Snack pellets are semi-finished non-expanded food products, such as chips and puffs. They are commonly used in savory food products and are manufactured using cereals, vegetable powders, potatoes and grains, including wheat, rice, corn and tapioca. They are traditionally produced by mixing the raw materials to a dry dough state, extruding the dough through a die, drying the pieces to form hard pellets and mixed with seasonings before final packaging. The pellets are further fried, roasted, air-popped or baked and mixed with flavor enhancers to produce finished and expanded ready-to-eat (RTE) snacks. Snack pellets are available in a wide variety of colors, flavors and textures and in the form of laminated, tridimensional, die-face and gelatinized cuts, slices and 3D shapes. They have a long shelf life, high stability and bulk density and can be conveniently stored and transported.

Snack Pellet Market Trends:
Significant growth in the food and beverage industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing demand for ready-to-eat (RTE) food products due to changing lifestyles and hectic schedules is providing a thrust to the market growth. Product manufacturers are widely using gelatinized snack pellets, which can be produced in uniform thickness and consistency using specialized high-speed rotary cutting machines. Additionally, various product innovations, such as the development of nutrient-rich multigrain snack pellets, are acting as other growth-inducing factors. In comparison to the wheat- and corn-based pellets, these variants have a low-fat content and are rich in fiber and various micro and micronutrients. With the rising health consciousness among the masses, there is also an increasing demand for RTE snacks manufactured using natural and organically sourced ingredients. Other factors, including the development of snack pellets in attractive 3D shapes, along with the increasing product demand from the restaurants, hotels, quick serving restaurants (QSRs) and cafes, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global snack pellet market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form, process and distribution channel.

Breakup by Type:

Potato
Corn
Rice
Tapioca
Multi-Grain
Others

Breakup by Form:

Laminated
Tridimensional
Die-Face
Gelatinized

Breakup by Process:

Frying
Hot Air Baking

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Food Specialty Stores
Online Stores
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Akkel Group, Bach Snacks s.a.l., Balance Foods Inc., Bunge Limited, Chhajed Foods Pvt. Ltd., Grupo Industrial Michel, J.R. Short Milling Company, Limagrain, Liven S.A., Mafin srl, Noble Agro Food Products Private Limited and Quality Pellets A/S.

Key Questions Answered in This Report:
How has the global snack pellet market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global snack pellet market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the process?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global snack pellet market and who are the key players?
What is the degree of competition in the industry?