Extrusion technique which is used in food processing is known as food extrusion. It is a procedure by which a number of assorted ingredients are forced through an opening in a holed die or plate with a pattern explicit to the food. Then it is cut to an indicated size with the help of blades. The extruder machine consists of a huge gyrating screw firmly fitted within a fixed barrel; at the end of the barrel is the die. The process of extrusion allows mass manufacturing of food through an endless, well-organized system that guarantees homogeneity of the end product. Food products which are manufactured using this technique typically have very high starch content in them. These food items include many breakfast cereals, some pasta, breads, textured vegetable protein, ready-to-eat snacks, cookie dough, fat soy, confectionery, and certain pet foods, baby foods, and beverages.
Currently, consumers are extra cautious about their snacking routines and are gradually embracing healthy snacking foods such as extruded snacks due to the benefits offered by them related to metabolism. Healthy snacking is also well-thought-of as an accompaniment to weight-loss, and these snacks deliver the essential vitamins and nutrients that the body needs. The nutritional substances of extruded snacks can be transformed by altering the digestion competence of protein and starch. The increasing demand for weight management and healthy snacking is likely to drive the global extruded snacks market over the forecast period.
The global extruded snacks market can be segregated on the basis of product type, distribution channel, and regions. Based on product type, the market can be segmented into rice, corn, potato, and mixed grains. The potatoes section held the dominant market share in the extruded snacks market. The altering taste choices of different regions has encouraged global companies to introduce customized region-specific spiced snacks, which is poised to push the demand for this segment.
On the basis of distribution channel, the global market can be trifurcated into convenience stores, hypermarkets and supermarkets, and independent retailers. Hypermarkets and supermarkets constituted the maximum market share in the global extruded snacks market. These supermarket and hypermarket stores are well stocked with numerous ranges of extruded snacks from several brands. Consumers select hypermarkets and supermarkets for their errands due to the in-store advertising by vendors coupled with price comparisons. These factors are likely to spur the growth of the global extruded snacks market in the future.
In terms of geography, the global extruded snacks market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific is likely to be the major revenue-generating region in the global extruded snacks market. Customers in this region enjoy numerous snacking options obtainable at reasonable prices. However, shifting preference toward snacks with health benefits will drive the market in this region over the forecast period.
The market is highly disjointed because of the existence of many small and large vendors who compete on the basis of quality, innovation, price, reputation, service, promotion, and distribution. The growth prospects of market players are subject to changing consumer expenditure patterns, local, regional, and national economic conditions in addition to demographic trends. The players in the market face strong competition due to which they concentrate on introducing innovative products in order to meet the consumers' changing tastes. Primary vendors in the market are Diamond Foods, Inc., Calbee, Inc., ITC Limited, Frito-Lay, Inc., Kellogg Company, Bag Snacks, and Old Dutch Foods, Inc. Other noticeable wholesalers in the global extruded snacks market are Want Want Holdings Limited, Arca Continental S.A.B. de C.V., Axium Foods, Inc., JFC International, Inc., Aperitivos Flaper, Mondelez International, Amica Chips S.P.A., Universal Robina Corp., and AUEVSS Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the 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.