According to a recent report published by MarketsandMarkets, the Snack Pellets Market is expected to experience substantial growth within the next five years.
The report, Snack Pellets Market by Type (Potato, Corn, Rice, Tapioca, Multigrain), Form (Laminated, Tridimensional, Die-face, Gelatinized), Equipment (Twin Screw Extruder, Single Screw Extruder), & by Region – Global Forecasts to 2020, projected that the Snack Pellets Market will grow at a CAGR of 6.0% to exceed $7 Billion by 2020.
The market report defines and segments the Snack Pellets Market with analyses and projections of the market size in terms of value and volume. It also identifies the driving and restraining factors of the market with analyses of the trends, opportunities, restraints and challenges. The size of the market in key regions North America, Europe, Asia-Pacific, Latin America, Africa and the Rest of the World (RoW) has been estimated and projected.
The Snack Pellets Market is considered as a niche segment but is one of the fastest-growing segments of the snack market due to the increasing consumer preference for convenience food products. The global snack pellets industry has witnessed strong growth trends in the last five years. The Snack Pellets Market is driven by the rising demand for healthier snack foods.
The market is also highly impacted by innovations as manufacturers are always introducing new ingredients, new variants and processing techniques to meet the increasing demand and cater to changing consumer demands. Public health concerns have increased the demand for products that are low in energy, saturated fats and salt. The Snack Pellets Market is investing heavily in reformulating existing products and also in developing and introducing completely new products, usually in conjunction with new frying and baking techniques resulting in fat levels lowered by up to 70%. However, in many under-developed regions, the market has struggled with the rising prices of basic raw materials such as cereals, lentils, tapioca and oil among others. Despite this, the global market is impacted by large-scale production and export of inexpensive snack pellets products from the Asia-Pacific market, especially from China and Japan and extensive consumption on high-end markets of the U.S. and developed European markets.
In 2014, the European region was the largest market for snack pellets. The high growth corresponds to increased demands from consumers for healthy snacking options and continued strong demands from snack food manufacturers for inexpensive half products.
Browse 90 market data Tables and 53 Figures spread through 180 Pages and in-depth TOC on “Snack Pellets Market”