The global Snack Pellets market accounted for USD 7.38 Billion in 2020 and is expected to reach USD 10.38 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
The global Snack Pellets market accounted for USD 7.38 Billion in 2020 and is expected to reach USD 10.38 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.
The rise in intake of healthy snack foods alongside easy availability of staple availability for producers will spur the merchandise demand over the approaching years. Besides this, high investments by manufacturers in R&D activities for developing new products are projected to steer the business growth within the ensuing years. additionally, elongated product period and simple transportation are anticipated to trigger the snacks pellets market growth over the forthcoming years.
An increase in the number of latest entrants into the business is probably going to form the market more price-competitive, thereby obstructing the expansion of the snacks pellets industry within the near future. Nevertheless, the introduction of the latest technologies and untapped potential of emerging markets is probably going to get an enormous scope for the business, thereby normalizing the impact of hindrances on the snacks pellets market globally.
Undoubtedly, the COVID-19 pandemic has harmed the market size for the year 2020, with small and medium scale companies struggling to sustain their businesses in the near term future. After the closure of restaurants, hotels, and other food outlet facilities during the arrival of the pandemic, the global snack pellet market has witnessed a decline in sales for the short term owing to the complete lockdown enforcement placed by governments to control COVID spreading. However, later it started for home delivery or take away. The restrictions imposed by various nations to contain COVID have stopped the production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand for Food.
The Snack Pellets market is probably going to develop at a big pace within the near future. Snack pellet is taken into account to be a prominent market owing to increasing customer preference for convenience foods. The market is especially driven by innovations because the industry players within the market specialize in introducing new varieties and new ingredients. These upgraded processing techniques help to cater to the increasing also as changing demands of the purchasers. They are preferred by a majority of customers due to their longer shelf life, stability, and bulk density. These products are also convenient to store as compared to other ready-to-eat alternatives.
Based on type the snack pellets market is segmented as potato, corn, rice, tapioca, mixed grains, and other snack pellets. Among them, the demand for potato-based snack pellets is relatively higher and the trend is anticipated to remain so over the next few years.
Various forms of snack pellets include laminated, dying faced, tridimensional, gelatinized, and others. Based on equipment snack pellets market is segmented into a single screw and twin-screw extruders.
Regionally, Europe has been leading the worldwide snacks pellets market and is anticipated to continue in the dominant position in the years to come. Mounting demand for savory foods in the region is the main factor behind the dominance of the European snacks pellets market. The increasing popularity of healthy snacks in Europe is another significant factor that is supporting the growth of this regional snacks pellets market.
Key participants profiDying Faced in the report include Limagrain Cereal Ingredients, Balance Foods Inc., Liven S.A., Grupo International Michel, J.R. Short Milling Company, pelletsmarketIntersnack Group Gmbh& Co, Pasta Foods Ltd., Dalmatia Food Industries Co, Quality pallet, Leng-Dor S.A.
By Type
By Form
By Equipment
FrequentlyAsked Questions
The global Snack Pellets market was valued at USD 7.38 Billion in 2020.
The global Snack Pellets market is expected to reach USD 10.38 Billion by 2028, growing at a CAGR of 4.3% between 2021 to 2028.
The growth of the snack pellets market is driven by the rising demand for prepared and convenience food products.
Europe has been leading the worldwide Snack Pellets market and is anticipated to continue in the dominant position in the years to come.
Key participants profiDying Faced in the report include Limagrain Cereal Ingredients, Balance Foods Inc., Liven S.A., Grupo International Michel, J.R. Short Milling Company, pelletsmarketIntersnack Group Gmbh& Co, Pasta Foods Ltd., Dalmatia Food Industries Co, Quality pallet, Leng-Dor S.A.
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