Extruded Products Market
Global Market Study on Extruded Products: Growing Popularity of Baked Snacks to Push Demand
Extruded Products Market Segmented By Aluminum Extruded Products, Extruded Snack Food, Extruded Foods, Extrusion and Extruded Products, Custom Extruded Products
Consumption of healthier food products is rising as consumers are increasingly focusing on making health-conscious decisions. Baked snacks are a type of extruded product, which are considered as healthier alternatives to fried snacks. The baking process helps these extruded products to retain vital nutrients including protein, fiber, and vitamin and also reduces the amount of fat and calories in the snacks. As baking helps to utilize the stored heat in covered environment through utilizing the natural energy/fat of the product during baking.
- For instance, the baked chips contain 120 calories per oz. whereas fried chips contain 160 calories per oz.
The trend of consuming healthy Extruded Baked Snacks creates lucrative opportunities for manufacturers of baked snacks, which are a type of extruded product. The addition of nutrients and a variety of flavor profiles in extruded products are some of the factors that influence consumer preferences and boost product sales. Baked snacks are associated with various health benefits such as promoting the growth of HDL (good cholesterol).
Baked extruded snacks contain less fat content in comparison to fried snacks. As baked extruded products such as multi-grain baked chips, cookies, and others are preferred and widely consumed snacks, the growing consumption of baked snacks propels the growth of the extruded products market.
- For instance, in July 2019, Bingo, ITC Ltd. is expanding its healthy snack segment. The company launched baked chips made from pulses such as lentils, black gram, and others that are rich in nutrition.
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- 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.
- San Carlo Gruppo Alimentare S.P.A.
- Shearer's Foods, LLC
- Lorenz Bahlsen Snack-World GmbH & Co KG
- Wyandot Snacks
- Intersnack Group GmbH & Co. Kg
- Ralston Foods, Inc.
- J.R. Short Milling Company
- The Brecks Co Ltd
- Amica Chips SpA
Innovative Packaging Coupled with Different Shapes and Sizes of Snacks to Boost Sales
Extruded products are widely consumed by consumers in different forms. Cereals, snacks, noodles & pastas, baby food, frozen food, and others are some extruded products consumed daily. Innovative packaging plays a vital role in boosting the sales of these food products. Food manufacturers continue to launch products in different shapes, sizes, and new styles of packaging to further influence consumers to choose their products.
Generation Alpha consumers are influenced to a great extent by pictures of their favorite cartoon characters and superheroes on packaging. This boosts the sales of extruded snacks which use popular cartoons and celebrities as part of packaging. Moreover, manufacturers cater to consumers of all ages by offering extruded products in different shapes and sizes.
- Frito-Lay Inc., a PepsiCo brand, offers extruded snacks with different packaging strategies such as cartoon shapes on the packet along with various colors and shapes. For example, Frito-Lay offers 150g to 170g large party packs of its potato chips to cater its younger consumer base.
Companies have started offering extruded products that specifically target consumers by considering a variety of lifestyles and cultures. In the last decade, the extruded products market has considerably increased due to innovations in shape, design, color, and texture of extruded products.
- Barilla, a pasta manufacturer, has launched 3D printed pasta. This helps Barilla create a variety of shapes such as wagon wheel and flower shaped pasta. The availability of different shapes of pasta are expected to boost the sales of pasta, as consumers are keen to try these new shapes of pasta.
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Regional Landscape of Global Extruded Products Market
East Asia and South Asia are expected to witness higher growth rates in the global extruded products market during the forecast period 2019-2029. Increasing disposable incomes due to rapid urbanization is among the factors driving the growth of the extruded products market in these regions. Consumers in these regions are willing to pay premium prices for unique extruded products such as spaghetti, waffles, and others.
Growing consumer inclination towards consumption of western food products and ready-to-make food including wild oats, ready to eat frozen meals, and sausages is anticipated to improve profit margins for manufacturers of extruded products market in the South and East Asia regions. Strong economic growth rates of Asian countries drive the growth of the food and beverage industry in these regions. This is expected to propel the growth of the extruded product market.
North America and Europe are projected to hold more than 60% of the value share in the global extruded products market. The highly developed food and beverage industry in North America and Europe is expected to be one of the prime factors for growth of the extruded products market in these regions.
Advancements in extrusion technologies in these two regions are anticipated to benefit manufacturers by increasing production capacities. However, stringent rules and regulations enforced by different authorities may hamper the growth of the global extruded products market.
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The global extruded products market is witnessing an extensive growth rate, with East Asia and South Asia anticipated to show the highest growth during the forecast period. Advancements in extrusion technologies worldwide is expected to contribute to the growth of the global extruded products market in the foreseeable future.
Leading market players such as Conagra Foods and The Kellogg Company, are strategically launching innovative extruded products including the corn snacks, rice krispies treats, and others along with expanding their global presence. Brand integration and improvement of their supply-chain are other strategies adopted by key players in the market.
However, the lack of transparency in ingredients used in extruded products and consumer disinclination towards high-fat products are among the factors which are expected to restrain the growth of extruded products market.
Key Segments of the Global Extruded Products Market
PMR’s study on the global extruded products market offers information divided into 6 important segments- product type, nature, source, extrusion process, distribution channel, and region.
Key Questions Answered in PMR’s Global Extruded Products Market
- Which region will hold the highest market share in the global extruded products market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global extruded products market?
- Which are the global trends impacting the extruded products market?
- What strategies must emerging players adopt to capture opportunities in various regions in the extruded products market?
- What is the market structure of the global extruded products market?