Hectic lifestyle of people have paved the way for non-availability of time for sitting and indulging in meals, eventually increasing the demand for ready to eat snacks. Eventually, driving the growth of snack pellet market. The demand for extruded snack pellets is increasing promptly due to the great melange of snacks in terms of flavors, colors, shapes, and textures. Spurring demand for prepared and convenience food products is a prime dynamic for the snack pellets market growth. Moreover, the attributes of the snack pellets such as longer shelf life, stability, and high density is propelling the growth of snack pellet market, as per the newly compiled business intelligence report by IndustryARC. The Snack Pellets Market size stood at $6.4 billion as of 2018, and the demand is anticipated to increase at a CAGR of 5.80% during the forecast period 2019-2025.
The report titled “Snack Pellets Market: By Type (Potato, Rice, Multi grain, Tapioca & Others), By Forms (Laminated, Tri dimensional, Die face, Gelatinized, Others), By Equipment (Single-Screw Extruder & Twin-Screw Extruder), By Geography – Forecast (2018 - 2023)” provides all the information, facts and statistics that will aid one to understand the dynamics of the snack pellets market along with market drivers, market value chain, restraints, growth indicators, market trends, challenges, future outlook, and market insights. The report covers snack pellets market size by type and applications, snack pellets market share by top 5 companies and also the market share by start-ups during the forecast period.
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Snack Pellets Market: Leading Segments
Europe held the leading share of 35.6% of the total demand in the market in 2018. Booming food processing industry and high availability of raw materials are fuelling the growth of snack pellets market in the Europe. Additionally, varied marketing schemes, advertisements, and awareness programs are some other key factors that facilitated Europe with maximum demand share in snack pellet market.
Snack pellets are segmented by type into potato, rice, multi grain, and tapioca. Potato based snacks are widely consumed snacks among the other aforementioned types. Ease of availability of potatoes, high nutrients, and wide range of flavors are the factors that are gravitating the consumers towards potato based snacks. Resultantly, key market players have capitalized on this application segment which is expected to impel with a healthy CAGR of 5.92% through to 2025.
Snack Pellets Market Trends
The technological advancements in extrusion process such as the production of 3D snack pellets is disrupting the global market. The 3D snack pellets technology is introduced to meet the raising demand for new varieties of snack pellets.
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Snack Pellets Market: Competitive Landscape
Global snack pellets market report comprises of prominent companies holding majority shares, which includes Intersnack Group GmbH & Co. KG (Germany), Limagrain Cereales Ingredients (France), Liven S.A. (Spain), Grupo Industrial Michel (Mexico), Leng-d'Or, S.A.U. (Spain), Balance Foods, Inc.? (US), Pasta Foods Ltd.? (UK), Quality Pellets A/S (Denmark), Chhajed Foods Pvt. Ltd. (India), Pellsnack-Products GmbH (Germany), J.R. Short Milling Company, and Grupo Industrial Michel.
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