Snack Pellets Market - Forecast(2021 - 2026)
Snack Pellets Market Overview:
As per the statistics provided by “Trading Economics” the disposable personal income in the United States averaged $5,287.79 billion from 1959 until 2019. The rise in disposable income is the main factor which is gravitating people towards preferring snack products over traditional meals. Hectic life, busy schedules, and extended professional timings are giving rise to undefined food habits and the traditional way of cooking and eating meals has been subsiding. In the busy professional and personal life, people have started opting for snack pellets, as it saves time and also relieves them from stress and boredom. Additionally, increasing food cravings among people, wide varieties of snacks in terms of shape, color, and flavor, and high availability of raw materials are fuelling the growth of snack pellets market. The global snack pellets market had a market size of $6.4 billion in 2018 and it is expected to grow at a CAGR of 5.80% during 2019-2025.
Europe held a prominent market share with almost 35.60% of the total demand in 2018. Thriving snack food industry, increasing investments on facility expansion, and marketing schemes are propelling the demand for snack pellets in Europe. Due to the high benefits such as longer life, stability and bulk density pertaining to prepared and convenience food products, people started preferring snack pellets and in turn increased the demand for the same. The growing focus on facility expansion, and marketing schemes rendered Europe with maximum demand share in the snack pellets market.
The major snack pellets present in the market are potato, rice, multi grain, and tapioca. Potato based snacks are widely consumed snacks among the other aforementioned types. Ease of availability of potatoes, high nutrients, and wide range of flavors are the factors that are gravitating the consumers towards potato based snacks. Resultantly, key market players have capitalized on this application segment which is expected to impel with a healthy CAGR of 5.92% through to 2025.
Snack Pellets Market Growth Drivers:
· Increasing demand for Prepared and Convenience Foods:
The prepared and convenience food have various benefits such as longer self-life, stability, bulk density and convenient to store. Owing to the aforementioned benefits, people are preferring snack pellets than other alternatives.
· Technological Advancements in Food Extrusion Process:
With the advancement in technology, there are many innovations taking place in food extrusion processes. These innovations, facilitate the manufacturers to produce large number of snack pellets in different shapes, textures, and sizes with low cost of production.
· Growing Demand for Gluten-free Food Products:
With the growing prevalence of diseases such as celiac and gluten sensitivity, people with these conditions are preferring gluten-free snacks. Thus driving the demand for snack pellets.
Snack Pellets Market Key Players Perspective:
Intersnack Group GmbH & Co. KG (Germany) is one of the prominent market player in the global snack pellets market. Recently it acquired Popchips Ltd, and KP Snacks. This acquisition is intended to meet the global demand for snack pellets in the coming future.
Other major players of the snack pellets market are Liven S.A. (Spain), Grupo Industrial Michel (Mexico), Leng-d'Or, S.A.U. (Spain), Limagrain Cereales Ingredients (France), Balance Foods, Inc. (US), Quality Pellets A/S (Denmark), Chhajed Foods Pvt. Ltd. (India), Pellsnack-Products GmbH (Germany), J.R. Short Milling Company, Grupo Industrial Michel, and Pasta Foods Ltd. (UK).
Snack Pellets Market Trends –
· 3D Snack Pellets:
The technological advancements in extrusion process such as production of 3D snack pellets is disrupting the global market. To curb the raising demand for new varieties, shapes, textures and sizes, these 3D snack pellets technology is introduced.
Snack Pellets Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the snack pellets market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of segments in the snack pellets market, and their specific applications in different areas.
Snack Pellets Market Report: Industry Coverage
The snack pellets market can be segmented on the basis of type, forms, and equipment. Based on the type, the market can be divided into potato, rice, multi grain, tapioca, and others. By forms, the market can be fragmented into laminated, tri dimensional, die face, gelatinized, and others. By equipment, the market can be bifurcated into single-screw extruder and twin-screw extruder.
As per the statistics provided by “Trading Economics” the disposable personal income in the United States averaged $5,287.79 billion from 1959 until 2019. The rise in disposable income is the main factor which is gravitating people towards preferring snack products over traditional meals. Hectic life, busy schedules, and extended professional timings are giving rise to undefined food habits and the traditional way of cooking and eating meals has been subsiding. In the busy professional and personal life, people have started opting for snack pellets, as it saves time and also relieves them from stress and boredom. Additionally, increasing food cravings among people, wide varieties of snacks in terms of shape, color, and flavor, and high availability of raw materials are fuelling the growth of snack pellets market. The global snack pellets market had a market size of $6.4 billion in 2018 and it is expected to grow at a CAGR of 5.80% during 2019-2025.
Europe held a prominent market share with almost 35.60% of the total demand in 2018. Thriving snack food industry, increasing investments on facility expansion, and marketing schemes are propelling the demand for snack pellets in Europe. Due to the high benefits such as longer life, stability and bulk density pertaining to prepared and convenience food products, people started preferring snack pellets and in turn increased the demand for the same. The growing focus on facility expansion, and marketing schemes rendered Europe with maximum demand share in the snack pellets market.
The major snack pellets present in the market are potato, rice, multi grain, and tapioca. Potato based snacks are widely consumed snacks among the other aforementioned types. Ease of availability of potatoes, high nutrients, and wide range of flavors are the factors that are gravitating the consumers towards potato based snacks. Resultantly, key market players have capitalized on this application segment which is expected to impel with a healthy CAGR of 5.92% through to 2025.
Snack Pellets Market Growth Drivers:
· Increasing demand for Prepared and Convenience Foods:
The prepared and convenience food have various benefits such as longer self-life, stability, bulk density and convenient to store. Owing to the aforementioned benefits, people are preferring snack pellets than other alternatives.
· Technological Advancements in Food Extrusion Process:
With the advancement in technology, there are many innovations taking place in food extrusion processes. These innovations, facilitate the manufacturers to produce large number of snack pellets in different shapes, textures, and sizes with low cost of production.
· Growing Demand for Gluten-free Food Products:
With the growing prevalence of diseases such as celiac and gluten sensitivity, people with these conditions are preferring gluten-free snacks. Thus driving the demand for snack pellets.
Snack Pellets Market Key Players Perspective:
Intersnack Group GmbH & Co. KG (Germany) is one of the prominent market player in the global snack pellets market. Recently it acquired Popchips Ltd, and KP Snacks. This acquisition is intended to meet the global demand for snack pellets in the coming future.
Other major players of the snack pellets market are Liven S.A. (Spain), Grupo Industrial Michel (Mexico), Leng-d'Or, S.A.U. (Spain), Limagrain Cereales Ingredients (France), Balance Foods, Inc. (US), Quality Pellets A/S (Denmark), Chhajed Foods Pvt. Ltd. (India), Pellsnack-Products GmbH (Germany), J.R. Short Milling Company, Grupo Industrial Michel, and Pasta Foods Ltd. (UK).
Snack Pellets Market Trends –
· 3D Snack Pellets:
The technological advancements in extrusion process such as production of 3D snack pellets is disrupting the global market. To curb the raising demand for new varieties, shapes, textures and sizes, these 3D snack pellets technology is introduced.
Snack Pellets Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the snack pellets market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of segments in the snack pellets market, and their specific applications in different areas.
Snack Pellets Market Report: Industry Coverage
The snack pellets market can be segmented on the basis of type, forms, and equipment. Based on the type, the market can be divided into potato, rice, multi grain, tapioca, and others. By forms, the market can be fragmented into laminated, tri dimensional, die face, gelatinized, and others. By equipment, the market can be bifurcated into single-screw extruder and twin-screw extruder.
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