Expanded Snacks: Market outlook
Revolution in the food and beverage industry owing to innovations and changing consumer preferences have significantly transformed the trend of snacking. Being healthy is the prime concern among the consumers which is one of the major driving force, pushing the growth of expanded snacks market over the decades. Expanded snacks are typically crispy, puffy, and crunchy cereal or starch finger foods. These characteristics make expanded snacks more preferable to people with a busy schedule. The hectic and busy schedule has upsurge the demand for ready-to-eat food products, amplifying the demand for expanded snacks. In the global ready-to-eat snacks market, expanded snacks market hold good market share owing to their convenience in consumption. Expanded snacks are available in a variety of shapes and sizes, making them attractive, tasty and fun. Also, there is a significant increment in the consumption of expanded snacks owing to their enhanced ingredients, making them a healthy snacking option. In the global extruded snacks market, North America and Europe hold the major share in production and consumption of extruded snacks owing to the presence of major global players in the region. Also, unique promotional strategies applied by manufacturers in the region is contributing to the growth of the market by gaining traction from the manufacturers. With the burgeoning demand for expanded snacks among consumers, it can be anticipated that there would be lucrative growth of expanded snacks market over the forecast period.
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Increasing Demand for Expanded Snacks among Millennials and Busy Scheduled Professionals
Healthy snacking is one the major trend in the global food and beverages market, which has gained the attention of various manufacturers. Manufacturers in the food and beverage industry are seeking an opportunity to bring healthy expanded snacks in their production line. Further, greater emphasis is being placed on identifying and determining characteristics of functional quality and critical nutrition of expanded snacks. Besides, the popularity of expanded snacks is more among teenagers and children, owing to their availability in multiple shapes and color. Expanded snacks are generally baked or roasted which bring additional benefits over the fried snacks. Baked snacks have lesser calories and prepared by hot air oven to expand the pellets of expanded snacks. As this technology is considered as very niche marking the growth phase of the expanded snacks market in global food and beverage industry. Manufacturer such as Baker Perkins has introduced expanded snacks with a coating of vitamins and minerals, making them favorable among different age segments. Also, many manufacturers are emphasizing on to cater to the burgeoning demand of vegan snack by launching various expanded snacks with vegan certification. On the other hand, boycotting food products with high-calorie content is among the major hindrance, which is restraining the growth of expanded snacks market.
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Global Expanded Snacks: Market Segmentation
Based on the source, global expanded snacks market can be segmented as
- Other products
Based on shape, global expanded snacks market can be segmented as
- Sticks and pillows,
- Star, rings, and curls
Based on type, global expanded snacks market can be segmented as
- Savory snacks
- Sweet Snacks
Based on the distribution channel, global expanded snacks market can be segmented as
- Convenience Store
- Specialty Stores
- Other grocery Retailers
Global Expanded Snacks: Key Players
Some of the key player operating their business in global expanded snacks market are Baker Perkins Limited, Buhler AG, Solute Group, Clextral S.A.S, Avebe, Jeppy Foods, Al Behar Group, Lalesse Extrusion B.V., and others.
Opportunities for Market Participants:
In the global food and beverage market, manufacturers are actively focusing on the development of processes that allow preservation of the optimal nutritional quality of expanded snacks. Also, manufacturers are adopting advanced technologies that help in boosting commercial capacity for value-added expanded snacks without compromising on the quality. Such innovations are allowing the expanded snacks industry to explore opportunities. In recent years, manufacturers and food brands are increasingly collaborating and entering into partnerships to find new application areas. Apart from all the above-mentioned factors, significant increment in consumer awareness about expanded snacks is expected to propel the growth of expanded snacks market over the forecast period.
The expanded snacks market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the expanded snacks market, including but not limited to: regional markets, source, shape, type and distribution channel.
The study is a source of reliable data on:
- Expanded snacks market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The expanded snacks market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the expanded snacks market report projects the attractiveness of each major segment over the forecast period.
Highlights of the Expanded snacks market report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the expanded snacks market
- Recommendations to companies for strengthening their foothold in the expanded snacks market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.