Extruded Snacks Market Worth $65.2 Billion by 2026 - Exclusive Report by MarketsandMarkets

CHICAGO, Feb. 19, 2020 /PRNewswire/ -- According to the new market research report "Extruded Snacks Market by Type (Simply extruded, Expanded, Co-extruded), Raw Material (Wheat, Potato, Corn, Oats, Rice, Multigrain), Manufacturing Method (Single-screw, Twin-screw), Distribution Channel, and Region - Global Forecast to 2026", published by MarketsandMarkets, the global Extruded Snacks Market size is projected to reach USD 65.2 billion by 2026, from USD 48.3 billion in 2019, recording a CAGR of 4.4% during the forecast period. The busy lifestyles that result in lesser time to cook meals and an increase in disposable income are projected to drive the extruded snacks industry growth during the forecast period.

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The simply extruded snacks segment accounted for the largest share in the North American extruded snacks market in 2019.

The simply extruded snacks type occupied the major share in the North American snacks market due to the high consumption of flat potato chips, popcorns, and biscuits by the millennial population in the US. However, the expanded snacks are gradually increasing in popularity, because of the increase in health-conscious people who are looking for snacks that are low in calories and hence, are best for weight management.

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The demand for rice-based snacks to remain high during the forecast period.

The market for rice, as a raw material for extruded snacks, is projected to grow at the highest CAGR during the forecast period; the projected growth is owing to the high carbohydrate content of rice making rice-based snacks a fulfilling item for diet. Also, the snacks made from pure rice flour absorb 20%–30% less oil, which makes them more popular among health-conscious consumers.

The snacks sale from the hypermarkets and the supermarkets are estimated to be the highest due to the increasing number of such outlets across the globe.

Among the distribution channels, hypermarkets & supermarkets are estimated to form the largest segment in 2019. This segment is projected to be the largest, as well as the fastest-growing market, during the forecast period. The wide range of varieties offered by brick and mortar stores and the advantage of real-time comparison among brands for consumers are the prime reasons for the success of hypermarkets and supermarkets in this market. Also, these formats not only support the on-the-go snacking trend but also support impulse purchases.