Snack pellets allow the manufacturers to offer a clean label to their products by way of offering pellets that have similar texture and expansion and meeting consumer need for healthy and safe snacking options. Fewer investments, less impact of government regulations, less maintenance costs allow the manufacturers to expand and innovate in accordance with the growth of the market.
One of the key factors pushing the growth of the market includes transition in the lifestyle of the consumers in terms of feeding habits. Over the years, the feeding habits of the consumer have witnessed a significant change, where it has evolved to the consumption of processed foods in heightened quantities. The consumers, especially the young population have become more inclined towards the consumption of processed food and ultra-processed food. Their consumption patterns are mostly influenced by the western culture. Further, the busy lifestyle of the consumers, especially for the young population have resulted in time constraint issues, where they have minimal time to consumed proper cooked food. Due to this factor, the resort to the consumption of ready to eat/processed foods for efficient time management. This trend has increased significantly over the past few years, especially in the developing countries on account of increased employment opportunities, resulting in increasing purchasing power of the consumers.
Ultra processed breads and cereals constitute an approximate of 12% of the daily food consumption per capita, while ice creams, cakes and other sweets constitute of a similar percentage. Soda and fruit drinks comprise of approximately 7% while frozen packaged meals account for approximately 4%. On an average, ultra-processed foods and processed foods account for approximately 67% of the daily food consumption per capita. Improvement in manufacturing techniques is yet another major factor driving the demand for the snack pellets market at the global level.
However, high content of acrylamide in processed foods is a major factor hindering the growth o the market at present. Acrylamide is a chemical compound with chemical formula C3H5NO and it is an odorless crystalline solid that is soluble in water, ether, chloroform and ethanol. Human exposure to acrylamide can come in several ways, consumption of processed foods being one of the major causes. Exposure to acrylamide has potential harmful effects such as drowsiness, disturbance, memory loss, numbness of lower limbs, vibratory loss and various others.
Further, high sugar content and high fructose corn syrup content, trans fats and processed vegetable oil, inclusion of artificial ingredients, refined carbohydrates are some of the major negative traits of processed foods. Additionally, they are low in nutrient content and fiber as well. Such factors have created a negative impact on the demand for processed foods among the health conscious consumers in the developing countries such as U.S, U.K., Germany and France among others. Health issues such as obesity have led the consumers to drift away from the consumption of such foods, thus barring the growth of the processed foods market, which in turn is barring the growth of the snack pellets market as well.
Product innovations, expansion in untapped markets and potential future investments are some areas of growth for this market in the future.
Based on type, the snack pellet market is classified into potato-based snack pellets, rice-based snack pellets, corn-based snack pellets, multigrain snack pellets and tapioca-based snack pellets among others. Based on form the market is classified into die-face, tridimensional, laminated and gelatinized.
Based on regions, the market is classified into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
The global snack pellets market is marked by some intense competition from the major players operating in this field. Product innovations, strategic mergers and acquisitions, joint venture and partnerships, geographical expansions are some of the key strategies adopted by these players to ensure long term sustenance in the market. Some of the major players operating in this market include Limagrain Cereales Ingredients, Liven S.A., Grupo Industrial Michel, Pasta Foods Ltd, and Dalmaza Food Industries among others.
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