According to a recent report by Future Market Insights, a market research and competitive intelligence provider, sales of Snack Pellets are estimated to reach a value of USD 3 billion by 2032, surging at 4.0 % CAGR through the decade.
Snack Pellets are a popular and trendy eatable in the market, and they are convenient for snack Pellet manufacturers since they are made from a variety of raw materials such as potato, powdered veggies, and cereals such as rice, corn, and mixed grains. It’s a semi-finished snack that can be extended using the extrusion process.
Snack Pellets are widely regarded by snack makers around the world due to their high density and longer shelf life and, which facilitates storage and makes shipping simple and creates value for money.
Since every snack consumer has individual tastes preference, semi-finished pellet snacks are tailored to satisfy those needs by mixing spices and other components during the expanding process to produce finished eatables. By combining spices and expanding procedures such as air-popping, roasting with spices of their choice hot oil frying, or baking , pellet snacks can suit the expectations of many groups, countries, geographies, gender, and age range.
Aside from this, due to customers’ busy lifestyles and increased taste, ingredients, and flavour, there is a growing demand for ready-to-eat snacks.
Key Takeaways from Market Study
- Due to a rise in consumption for savoury snacks in the area, European countries will lead the global Snack Pellets Market with the largest share of USD 2.04 billion in 2021.
- Majority of the businesses have moved their manufacturing operations to the Asia-Pacific area.
- With a market share of x.x%, Germany is one of the most important countries in the European Snack Pellets market.
- Multigrain reflect approximately x.x% market share, but potato snack pellets are estimated to witness a high growth rate of y.y% over the forecast period.
- COVID-19 epidemic has pushed people to eat more snacks, more frequently, thereby supporting market growth.
- Market players are experimenting with new ways to handle, package, and distribute the new generation of sustainable, healthful, and inventive foods.
“Due to consumers’ hectic lifestyles and increased taste, ingredients, and flavour, the snack pellets sector is on the rise. Increased product awareness, as well as industry-wide research and development, are critical elements in market expansion.”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Snack pellets have a strongly competitive global market. Suppliers compete in areas such as innovation, price, and distribution. Companies make significant investments in R&D to improve their products and meet customer demand.
Some of the leading companies offering Snack Pellets are Quality Pellets A/S , Intersnack Group GmBH & Co., Balance Foods Inc., KG, J.R. Short Milling Company, Dalmaza Food Industries Co., and Grupo Industrial Michel.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the snack pellets presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the snack pellets based on product type (Potato, Corn, Rice, Tapioca, Mixed Grains, Others (Cereals, Legumes, Etc.)), flavour (flavoured and non flavoured), technique (Single-Screw Extruder, Twin-Screw Extruder), and across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Browse Old Promotions of Snack Pellet Report
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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