Extruded Baked Snacks Market: Market Outlook
The extruded baked snacks are manufactured by the extrusion method in which raw materials are passed via a particular die for a particular shape and design of the products. The extrusion process is mostly done in the food industries for the production of different types of food products with varied shapes and sizes. Extruded baked snacks have been showing a higher demand pattern across the world due to containing higher health and nutritional benefits. Moreover, the snacks market is also showing considerable growth which also increasing the sales of extruded baked snacks.
The rising market demand for tasty snacks and savory food particularly, among kids is one of the factors augmenting the growth of the global extruded baked snacks market. Snacks are the food products that are preferred by all age groups, especially by kids as of their various shapes and sizes. Manufacturers are focusing on innovative packaging strategies to attract the Gen Z population. Furthermore, cereal-based extruded baked snacks are creating the potential growth opportunity for extruded baked snacks market.
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How the Consumer Inclination toward Baked Snacks is boosting the Sales of Extruded Baked Snacks?
Extruded baked snacks market is driven by the factor that consumers are increasingly favoring baked snacks more than fried snacks. The increasing awareness about healthy food is driving the market for extruded baked snacks among consumers. Extruded baked snacks are having more nutrient content as compared to fried products. Extruded baked snacks promote the growth of HDL (good cholesterol). Baked extruded snacks have less fat content, more nutritious, as compared to fried snacks. Extruded baked snacks also help in weight management issues, it prevents weight gain and obesity.
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Why Low-calorie and Fat-free Extruded Baked Snacks Gaining Popularity?
Nowadays, the consumer is more aware of the product they consume in their daily life as they prefer a product which has low calories and is fat-free, to stay away from various disorders such as obesity, diabetes mellitus, and other cardiovascular diseases. As the demand for healthy low-calorie and fat-free products is increasing, the manufacturers of the extruded product have started offering fat-free, and low-calorie extruded baked snacks.
For instance Chipita a Greece company offers fat-free, low-calorie extruded products such as breakfast cereals, and savory snacks among others in the global market.
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Why Certifications are Playing Key Roles in the Sales of Extruded Baked Snacks Market?
Quality certification is very essential in the competitive market. Quality certification plays a very important role for any product, as it ensures quality. Quality certifications maintain the grade of the food products. Consumers blindly trust products, which are approved by regulatory bodies such as GFSI, ISO, FSSAI, FDA, HALAL, and KOSHER. These certifications ensure product quality through certain laboratory tests.
The consumer requirement for certified food and beverage is increasing across the world. The manufacturers of extruded baked snacks are focused on producing high-quality and premium products to meet the quality requirement of the respective organization to get the certifications that ensure the quality and authenticity of the products.
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How New Approaches to Innovate Food Products Attracting Consumers?
Another driving factor of extruded baked snacks market is innovative product offerings by the manufacturers. The demand for extruded baked snacks is higher in the young population since they are mainly attracted to new and innovative foodstuffs. They are opting for snacks that are loaded with healthy nutrients including vitamins, minerals, and proteins rather than a traditional meal. This is escalating the growth of extruded baked snacks market. Moreover, organic extruded baked snacks are also witnessing a higher demand pattern due to the ongoing go-organic trend. Organic products are health-friendly because they are produced using natural fertilizers and have no pesticides and chemicals added. Organic extruded baked snacks have a higher content of all vital vitamins, minerals, fibers, and antioxidant compounds as compared to conventional products.
Is Unique and Attractive Packaging and Size Influencing the Growth of Extruded Baked Snacks Market?
The rising market demand for tasty snacks and savory food particularly, among kids is one of the factors augmenting the growth of the global extruded baked snacks market. Snacks are the food products that are preferred by all age groups, especially by kids as of their various shapes and sizes. Manufacturers are focusing on innovative packaging strategies to attract the Gen Z population. Companies have started offering foodstuffs by specifically focusing on the lifestyle and culture of customers of a particular country. From the last decade, the market of extruded baked snacks has considerably increased due to innovation in the shape, design, color, and texture of the extruded baked snacks. The market availability of extruded products in various styles according to the innovation in the technology of extrusion methods has also turn into one of the key factors for its rising demand for extruded baked snacks market.
What are the Key Challenges that may Restrain Growth of the Extruded Baked Snacks Market?
Regulatory agencies such as the FDA (Food and Drug Administration), with the help of CDC (Centre for Disease Control and Prevention), in the U.S., and state agencies formed new regulations for processed foods, due to the many cases of Clostridium botulinum and Acrylamide formation. FDA has laid the ground rules, due to which, companies are now forced to take strict measures to control this pathogen and chemicals occurring in processed food products. Also, FDA has stipulated regulations for the preparation, preservation, and supply of processed as well as extruded baked snacks.
Extruded Baked Snacks Market: Segmentation
Based on nature, the global extruded baked snacks market can be segmented as follows
Based on the source, the global extruded baked snacks market can be segmented as follows
- Fish, Meat & Poultry
Based on the extrusion process, the global extruded baked snacks market can be segmented as follows
- Hot Extrusion
- Cold Extrusion
Based on the distribution channel, the global extruded baked snacks market can be segmented as follows
- Business to Business
- Business to Consumer
- Convenience Stores
- Specialty Stores
- Online Retail
Based on the region, the global extruded baked snacks market can be segmented as follows
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Some of the key players operating in extruded baked snacks market are
- Conagra Foods Inc.
- Bunge Limited
- ITC Ltd
- The Kellogg Company
- Premier Foods PLC
- Calbee Inc.
- Clextral S.A.S
- Old Dutch Foods Inc.
- Diamond Foods Inc.
What strategies are the Key Players adopting for Increasing their Market Share in the Extruded Baked Snacks Market?
Since the demand for healthy and nutritious extruded baked snacks is rising across the globe, the market participants of extruded baked snacks are expected to gain beneficial opportunities over the forecast period in the global extruded baked snacks market. Companies have started offering foodstuffs by specifically focusing on the lifestyle and culture of customers of a particular country. From the last decade, the market of extruded baked snacks has considerably increased due to innovation in the shape, design, color, and texture of the extruded baked snacks. This has formulated the potential market set up for manufacturers of extruded baked snacks market.
How India and China are the Most Attractive Countries for the Extruded Baked Snacks Market?
The emerging countries are witnessing rapid urbanization, escalating economic growth, and increasing disposable income which led to the augmentation in consumer spending on food products. The countries such as China, India, Indonesia, and others are showing a strong annual growth rate from 2018 regarding the consumption expenditure.
The consumer of these countries is spending more especially on western food products including pasta, cereals, frozen food, ready to eat products, and others. The manufacturers of extruded baked snacks are also targeting the developing regions and investing the large capital.
- For instance, in September 2019, Calbee and its partner labbrand have launched potato chip products for the Chinese market. The company has created the Chinese names of products to cater to the consumers in China. Moreover, before that in 2018, Calbee has opened a retail store in China for the sale of its snack products.
What is the Repercussion of the Pandemic on the Growth of the Extruded Baked Snacks Market?
The food & beverage industry is also heavily impacted by the COVID-19 disease outbreak. The food manufacturers have limited the production of food products which has created the problem of improper supply. The production of extruded baked snacks is heavily dependent on raw material supply which has been affected during the lockdown. The closing of the foodservice and food & beverage industries during the lockdown has formulated some problems for extruded baked snack producers. Nevertheless, as the restriction has been eased and more safety & hygienic protocol has been followed, the sales of extruded baked snacks are expected to reach more heights. Therefore, extruded baked snacks market is expected to exhibit a low to moderate impact in the forecast period due to COVID-19 disease.
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