“The snack pellets market is projected to grow at a CAGR of 5.3%.”
The snack pellets market is estimated to account for about USD 2.0 billion in 2018 and is projected to grow at a CAGR of 5.3%, to reach about USD 2.5 billion by 2023. Hectic lifestyles of people and the need for on-the-go consumption have encouraged the savory snack manufacturing industry to produce new products that could meet these rising demands from the working-class consumers. In addition to this, the growing focus on facility expansion, marketing schemes, and information exchange programs for creating awareness to enhance the consumption of snack pellets have contributed to the growth of the market. Consumer preferences in emerging economies such as China, India, Brazil, and the Middle East have gradually transitioned from traditional home-made breakfasts and snacking meals to ready-to-eat products over the last couple of decades. However, high acrylamide content in snack foods is projected to inhibit the market growth during the forecast period.
Download Free Sample Pages of this report
“The potato segment is estimated to account for the largest share in the market in 2018.
On the basis of type, the snack pellets market is segmented into potato, corn, rice, tapioca, multigrain,and others. The potato segment is estimated to account for the largest share in 2018. Potato starch is the most widely used ingredient in the production of snack pellets. This is due to the increasing demand for potato starch, as it contains longer starch chains in the amylopectin molecules, which enhances the quality of pellets. It also offers high bulk density, various flavors, and choices for consumers of all age groups.
“The die-face segment in the snack pellets market is projected to record the fastest growth through 2023.”
Based on form, the die-face segment recorded the fastest growth in the snack pellets market. Die-face technology offers shapes that require minute cuts & edges. This enables manufacturers to produce shapes of animals and cartoon characters, attracting another class of consumers comprising children. The market for these forms of products is growing fast, mainly due to the diversity of products in terms of shapes, textures, colors, and flavors.
“The snack pellets market is projected to witness a high growth in Asia Pacific during the forecast period.”
The snack pellets market in Asia Pacific is projected to witness the fastest growth during the forecast period, due to the rising awareness about snack pellets and technological advancements in the food & beverage industry. Availability of machinery for the production of high-quality products at economical prices in this region has created profitable growth opportunities for the snack pellets market.
Break-up of Primaries:
- By Company Type: Tier 1 – 45 %, Tier 2 – 25%, and Tier 3 – 30%
- By Designation: C Level – 47%, D Level – 24%, and Others* – 29%
- By Region: North America – 20%, Europe –35%, Asia Pacific – 35% and RoW** – 10%
*Others include sales managers, marketing managers, and product managers.
**RoW- includes South America and the Middle East & Africa
Leading players profiled in this report:
• Limagrain C?r?ales Ingr?dients (France)
• Liven S.A. (Spain)
• Grupo Michel (Mexico)
• Leng d’Or S.A. (Spain)
• Pellsnack-Products GmbH (Germany)
• J. R. Short Milling (US)
• Pasta Foods Ltd (UK)
• Noble Agro Food Products Ltd (India)
• Bach Snacks s.a.l. (Lebanon)
• Mafin Spa (Italy)
• Le Caselle S.p.A. (Italy)
• Van Marcke Foods (the Netherlands)
The report segments the snack pellets market on the basis of type, form, technique, flavor, and region. To offer valuable insights, this report has focused on various levels of analysis?competitive landscape, end-use analysis, and company profiles?which together comprise and discuss views on the emerging & high-growth segments of the snack pellets market, the high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons To buy this report:
- To get a comprehensive overview of the snack pellets market
- To gain wide information about the top players in this industry, their product portfolios, and the key strategies adopted by them
- To gain insights about the major countries/regions in which the snack pellets market is flourishing