Extruded Snacks Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The extruded snacks market is valued at $ 47.4 billion in 2023 and is estimated to reach $ 72 billion by 2030, at a CAGR of 7.2%. This growth trajectory reflects the strong demand for new products that meet the evolving dietary and lifestyle preferences of consumers. The inclination to convenient, on-the-go snacking, along with a rising awareness of health and well-being, is driving market growth. The trend is also supported by the development of new extrusion processes, which enhance the texture and flavor of extruded snacks. The increasing popularity of plant-based and gluten-free snacks is attracting a broader audience. The major players in the market, such as PepsiCo, General Mills, and Kellogg’s, are introducing new products through strategic alliances and product development. PepsiCo’s launch of its healthy snack line, for instance, demonstrates its commitment to meeting consumers’ demand for nutritious snacks, strengthening its position in the market.

Regional Market Size

Regional Deep Dive

The extruded snacks market is growing rapidly across the globe, owing to the growing trend of consumers towards healthy snacks. In North America, the market is characterized by a strong demand for gluten-free and organic snacks, while in Europe, the trend is towards premium and artisanal products. In the Asia-Pacific region, rapid urbanization and rising disposable incomes have pushed up snack consumption. The Middle East and Africa are characterized by the use of local flavors and ingredients, which reflect cultural preferences. Latin America is characterized by the emergence of new snacks that combine the best of local and international cuisine.

Europe

• The European market is seeing a significant shift towards plant-based extruded snacks, with companies like Snack Innovations focusing on using legumes and pulses as primary ingredients to cater to vegan consumers.
• Regulatory changes in food labeling and health claims are influencing product development, prompting brands to invest in transparency and clean-label products, as seen with the initiatives from the European Food Safety Authority (EFSA).

Asia Pacific

• Rapid urbanization and a growing middle class in countries like China and India are driving the demand for convenient snack options, with local companies such as Parle Products expanding their extruded snack offerings to meet this need.
• Innovative packaging solutions are being adopted to enhance shelf life and convenience, with brands like Calbee introducing resealable bags that appeal to on-the-go consumers.

Latin America

• The Latin American market is leveraging its rich culinary heritage, with brands like Bodega Aurrera introducing extruded snacks that blend traditional flavors with modern snacking trends.
• Economic factors, such as rising disposable incomes, are leading to increased consumption of premium snack products, prompting companies to innovate and diversify their product lines.

North America

• The rise of health-conscious consumers has led to an increase in demand for extruded snacks that are low in calories and high in protein, with companies like PepsiCo launching new lines of healthier snack options.
• Innovations in flavors and textures are being driven by consumer experimentation, with brands like Utz Quality Foods introducing unique flavor profiles such as spicy and sweet combinations to attract younger demographics.

Middle East And Africa

• The market is increasingly influenced by local flavors, with companies like Al Ain Food & Beverages launching extruded snacks that incorporate traditional spices and ingredients to cater to regional tastes.
• Government initiatives aimed at promoting local agriculture are encouraging the use of indigenous ingredients in snack production, which is expected to boost the market for locally sourced extruded snacks.

Did You Know?

“Did you know that the global extruded snacks market is expected to see a significant increase in demand for plant-based snacks, with a projected growth rate of over 10% in the coming years?” — Market Research Future

Segmental Market Size

The extruded snacks market is growing rapidly, driven by a growing demand for convenient and new snacks. The trend towards healthier alternatives such as baked or wholemeal snacks is also a driving force for this segment. Advances in extrusion technology are enabling manufacturers to create new textures and flavours to suit changing consumer tastes. At present, the market is dominated by companies such as PepsiCo and General Mills. However, several new products are now available in this area, such as Quaker’s rice cakes and Nature Valley’s granola bites. Extruded snacks are primarily used in retail, foodservice and e-commerce, and their applications range from the simple snack to the gourmet snack. Macro-developments such as the plant-based diet and sustainable development are also driving this market. The demand for snacks that are more in line with the consumers’ health and environmental values is growing. The development of new flavourings and 3D printing technology will also have a significant influence on the future of extruded snacks.

Future Outlook

The extruded snacks market is projected to grow from $47.4 billion in 2023 to $ 72.0 billion in 2030, at a robust CAGR of 7.2%. This growth will be driven by rising demand for convenient, on-the-go snacks, as well as a growing preference for healthy snacks. The study projects that by 2030, almost 60% of consumers will eat extruded snacks regularly, up from an estimated 45.7% in 2023. The study also projects that key technological advancements in extrusion will improve product quality and variety, enabling manufacturers to meet consumers’ growing demand for gluten-free, organic, and high-protein products. Moreover, the trend toward plant-based foods is likely to spur innovation in extruded snack formulations, which will further broaden the market. Also important to the market will be policy drivers such as the need for greater transparency in ingredient sourcing and healthier food options. The study projects that as brands focus more on health and sustainability, the extruded snack market will evolve to become a dynamic segment within the snack food industry.