The global extruded snacks market size accounted for USD 60.66 billion in 2022 and it is projected to be worth around USD 98.34 billion by 2032, growing at a compound annual growth rate (CAGR) of 5% during the forecast period 2023 to 2032.
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The Europe extruded snacks market size was valued at USD 32.08 billion in 2023 and is expected to reach USD 50.62 billion by 2032, growing at a CAGR of 5.20% from 2023 to 2032.
Europe region accounted largest market share of around 46% in 2022. Due to a large number of consumers in the countries like China and India belonging to the Asia Pacific region the market for extruded snacks is expected to grow well in this region. Increasing population and growing urbanization will boost the market in this region. Due to the presence of different multinational companies there is a growth in the corporate culture across many nations in the Asia Pacific region which is creating a significant demand for extruded snacks. Asia Pacific is expected to grow at a CAGR of 7% from 2023 to 2032.
In the regions like Europe and North America the market for extruded snacks is seeing a shift towards more healthy products offered in the extruded snacks market. Growing health conscious population is leading to a growth in the market. These nations with key market players are concentrating on producing innovative snacks with the use of wheat and other cereals that are packed with nutrients. These manufacturing units are making use of naturally processed grains in order to keep the nutrients in the snack intact. All the extruded snacks offered in the market are cheaper as compared to the other snacks available. This factor is expected to drive the market in the Asia Pacific region. Other than increase in the on the go snacking due to a growth in the urban population the extruded snacks market will grow during the forecast period.
Extruded snacks are manufactured with the help of cereal flour or the starch. Extruded snacks are quite high in terms of calories and fat. Fiber and the protein content of these snacks is extremely low. These snacks are considered as unhealthy by many consumers across the globe. Extruded snacks are obtained in the desired shape and size as they undergo a mechanical process with the help of equipment that apply pressure in a certain way. Extruded snacks could be a combination of different types of cereals. Extruded snacks expand in size after they undergo the process of deep oil frying.
Extruded snacks are obtained in different shapes as they are pushed through precision cuts or molds. Just like all the other snacks available in the market the extruded snacks could also be enhanced in order to cater to the consumers that are health conscious. Due to an increasing demand for exotic flavors in the market manufacturers are trying to use premium ingredients in order to provide hi renovation in the already existing products to meet the demand of the consumers. As is an increase in the disposable income of the people belonging to developed as well as the developing economies the market is expected to grow during the forecast period. Due to dual income households and the changes in the lifestyle of the people there's a great demand for extruded snacks. The snacks are projected on a large scale in the hypermarkets and supermarkets in a wide range of varieties. The demand for extruded snacks is also growing due to impulse buying. This market is expected to see a good growth in the Asia Pacific region as there is a growth in the urban population and the lifestyle of people has become hectic due to the dual income households.
The disruption of supply chains had greatly affected the the market during the COVID-19 pandemic. At the beginning of the pandemic there was a growth in the market as people who are purchasing more and more products out of panic. There was a maximum purchase of snacks through various convenience stores and retail outlets. As the lockdowns proceeded the demand for these food products was dropping. There was a growing concern of safety amongst the people. Health conscious individuals were seeking options that would boost their immunity. The market for convenient food options had gone down during this period.
These products have a longer shelf life as they do not contain a lot of moisture. There are continuous efforts taken by different manufacturing organizations to provide innovative products to the market which is constantly demanding healthy snacks. Growing awareness regarding the health there's a greater demand for nutrient rich snacks. The production of these snacks is easy due to the use of a huge quantity of starch. Starch also helps in the efficient manufacturing process as it ensures that there is uniformity in the final product Due to the constant research and development in these field major market players are offering better nutritional extruded snacks to the market. Growing population across the developing nations and malnutrition in these emerging economies is expected to drive the market of the extruded snacks. There's an increase in the demand for these convenient snacking products. Dual income households have led to an increased demand for on-the-go products which help in satisfying the hunger of the people leading a hectic lifestyle. The snacks are packed in a manner that makes them extremely portable which can be carried to the workplace as it provides a quick energy boost during the work hours needed the variety of products offered in terms of flavors and quantities are also expected to help in the growth of the market in the coming years. These savory snacks are extremely popular for consumption with tea. This is the best munching option for the entire day and consumers seek different flavors in these snacks.
| Report Coverage | Details |
| Market Size in 2023 | USD 63.39 Billion |
| Market Size by 2032 | USD 98.34 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 5% |
| Europe Market Share in 2022 | 46% |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Raw Material, Method of Manufacturing, Type, Distribution Channel, Geography |
| Companies Mentioned | PepsiCo, Inc. (U.S.), ITC Limited (India), Grupo Bimbo (Mexico), Calbee, Inc. (Japan), Kellogg Company (U.S.), Campbell Soup Company (U.S.), JFC International (U.S.), Lorenz Snack World (Germany), General Mills, Inc. (U.S.), Mondelez International (U.S.) |
Based on raw material, the wheat segment accounted largest market share in 2022. There's an increase in the demand for wheat as raw material for the manufacturing of extruded snacks as it has a low content of carbohydrates and fat. Wheat is slightly high in dietary fiber as compared to the other raw materials available for the manufacturing of extruded snacks. Major manufacturers across the globe are developing innovative products with different flavors with the use of wheat as the raw material. Compared to potato and corn wheat is a healthier option as these products are high in carbohydrates and fat. In order to capture the health conscious market of the consumers wheat based snacks will drive the growth of the market in the coming years. Heat based snacks are offered as and healthy option to the market which happens to be the best alternative for the already existing products in the market.
The potato based extruded snacks is also expected to grow well during the forecast period as there is a great demand for these products. Potato based snacks like chips French fries will boost the market growth. Tapioca is considered as a healthy and nutritious snack the growth of tapioca based snacks shall be more in Latin America and the Asia Pacific region. Tapioca based extruded snacks is expected to grow at a CAGR of around 4.5% from 2023 to 2032.
Depending on the method of manufacturing, the twin screw extruded snacks segment is expected to have a major market share in the coming years. The single screw extruder segment has dominated the market in the past. The single screw segment has dominated the market as this is a low cost option available in the market. The twin screw extruder segment is expected you have the largest market share in terms of revenue during the forecast period. This process of manufacturing provides efficiency as compared to the other process. The manufacturing of extruded snacks becomes easier as the twin screw extruder has a great capability for mixing. This process has more adaptability as compared to the single screw extruder as it helps in the production of the snacks in different shapes. A large number of manufacturers which are already using the single screw extruder or shifting to the twin screw extruder due to its performance in the recent year. It can be used for the manufacturing of products which uses different type of raw materials and helps in attaining different shapes for these extruded snacks.
By distribution channel, the hypermarkets and the supermarket segment accounted largest revenue share 40% in 2022. Hypermarket and supermarket segment will witness highest growth in the coming years due to a large number of purchases from these stores. The shelf space allocated to extruded snacks is large which is extremely useful in displaying of variety of products that are available. The availability of different flavors in a particular range is driving the growth of the market. Consumers are able to purchase better by comparing all the products that are offered in the market. Another important factor that is leading to the growth of the market through the hypermarket and supermarket segment is impulse buying. An increase in the dual income households has led to a greater disposable income which has increased the purchasing power of the consumers and hence the demand for extruded snacks is growing. Frequent visits to supermarkets and hypermarkets for purchasing different items have increased the sales of extruded snacks. Other brick and mortar stores will also see a growth during the coming years as these stores offer a variety of snacks.
After the pandemic the online segment is also expected to grow. Many consumers in the developed as well as the developing economies prefer the online mode for purchasing these snags as the products are delivered at their doorstep. High shelf life of extruded snacks will drive the market growth. Is of grocery and snacks through the online distribution mode is extremely convenient and comfortable. Increase in the use of smartphones and availability of Internet across the globe is expanding the online market. The online retail segment is expected to witness growth at a CAGR of 5.9% from 2023 to 2032.
Segments covered in the report
By Raw Material
By Method of Manufacturing
By Type
By Distribution Channel
By Geography
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