The extruded snack food market has witnessed substantial growth over the years and is expected to continue its upward trajectory. Valued at approximately USD 90.34 billion in 2023, this market is projected to grow at a compound annual growth rate (CAGR) of 2.3% during the forecast period of 2024-2032, ultimately reaching a value of USD 110.86 billion by 2032. This blog explores the extruded snack food market’s overview, size, trends, growth, analysis, forecast, and competitor landscape to provide an insightful understanding of the market’s trajectory.

Extruded Snack Food Market Overview

Extruded snack foods are processed products made using a method called extrusion, where ingredients are forced through a machine that shapes them into a desired form. This process enhances the texture and flavor of snack foods, making them crispier and lighter, which appeals to a wide range of consumers. Extruded snack foods include products such as chips, puffs, sticks, and crackers, which are widely popular for their convenience, variety of flavors, and satisfying crunch.

The market for extruded snacks is driven by consumer demand for quick, ready-to-eat snacks, particularly those that are perceived as innovative, tasty, and easy to consume. Rising urbanization, changing lifestyles, and an increase in disposable income are contributing to the growing demand for these snacks across various regions globally.

Extruded Snack Food Market Size

In 2023, the extruded snack food market reached a value of approximately USD 90.34 billion. The market has seen robust growth due to the increasing consumer preference for convenience foods, particularly in emerging economies. The growing demand for extruded snacks, which are easy to prepare and consume on the go, plays a significant role in boosting market size.

The forecast indicates a steady growth rate of 2.3% CAGR from 2024 to 2032, which will lead the market to reach an estimated value of USD 110.86 billion by 2032. This growth will be driven by evolving consumer preferences, innovative snack options, and the continued expansion of the food processing industry.

Extruded Snack Food Market Trends

Several key trends are shaping the future of the extruded snack food market:

Health-Conscious Snacking: As consumers become more health-conscious, there is a rising demand for healthier snack options, including those made with organic, gluten-free, and non-GMO ingredients. Manufacturers are responding by developing extruded snacks with better nutritional profiles, such as lower fat, reduced sodium, and higher protein content.

Innovative Flavours and Formulations: The market is seeing an influx of new, exciting flavors and formulations. Companies are experimenting with exotic seasonings and combining different snack types, such as integrating vegetables, grains, and pulses to create unique, healthier options.

Plant-Based Snacks: With the rise in plant-based diets, extruded snack companies are increasingly offering vegan and plant-based snack options, tapping into the growing vegan and vegetarian consumer base.

Sustainability Efforts: Sustainability has become a major focus in food production, and snack manufacturers are investing in eco-friendly packaging and more sustainable sourcing of ingredients to appeal to environmentally conscious consumers.

Convenience and Portability: Busy, on-the-go lifestyles are driving the demand for convenient and portable snack options. Extruded snacks are particularly suited to this demand due to their easy-to-carry packaging and long shelf life.

Extruded Snack Food Market Segmentation

Materials:
Potato
Corn
Rice
Tapioca
Mixed Grains
Others

Types:
Simply Extruded
Expanded
Co-Extruded

Extrusion Method:
Single Screw Processing
Twin Screw Processing

Distribution Channels:
Supermarkets/Hypermarkets
Convenience Stores
Specialty Food Stores
Online Retail
Others

Regions:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Extruded Snack Food Market Growth

The extruded snack food market is experiencing consistent growth, primarily driven by several factors:

Rising Consumer Demand: The growing preference for on-the-go snacks, especially among millennials and busy professionals, is leading to increased demand for extruded snacks. These products are easy to consume, satisfying, and available in a variety of flavors.

Globalization of Snack Culture: As Western snack foods continue to gain popularity in developing regions like Asia-Pacific and the Middle East, extruded snack products are seeing higher sales in these markets. Global trade, increased exposure to international food trends, and improved distribution channels are enabling snack brands to reach new markets.

Expanding Retail and Online Distribution: The availability of extruded snacks through both brick-and-mortar retail stores and online platforms is increasing. E-commerce is particularly contributing to the market's growth by making it easier for consumers to access a wide range of snack options from different brands.

Innovation in Product Formats: New snack formats, such as baked chips, multigrain snacks, and air-popped extruded products, are being introduced to meet the diverse preferences of consumers. This variety is appealing to health-conscious individuals as well as traditional snack lovers.

Extruded Snack Food Market Analysis

The extruded snack food market can be analyzed through various segments such as type, distribution channel, and geography:

By Type: The extruded snacks market is segmented into chips, crackers, puffs, and sticks. Among these, chips and puffs dominate the market, with increasing consumer demand for new and exciting flavors.

By Distribution Channel: The market is segmented into supermarkets/hypermarkets, convenience stores, online retail, and others. Supermarkets and hypermarkets are the largest distribution channels for extruded snacks, though online retail is expected to see rapid growth due to the convenience it offers to consumers.

By Geography: North America is the largest market for extruded snacks, driven by high demand in the U.S. and Canada. However, the Asia-Pacific region is expected to experience the fastest growth during the forecast period, owing to rising urbanization and disposable income.

Extruded Snack Food Market Forecast (2024-2032)

The extruded snack food market is projected to experience steady growth in the coming years, with a forecasted CAGR of 2.3% from 2024 to 2032. The market is expected to reach USD 110.86 billion by 2032. Growth will be driven by:

Increasing Health-Consciousness: As consumers increasingly seek healthier alternatives to traditional snack foods, demand for low-fat, high-protein, and nutrient-dense extruded snacks will rise.

Product Diversification: Extruded snacks are evolving to cater to a wide range of tastes and dietary preferences, including vegan, gluten-free, and organic options.

Market Expansion: Expanding distribution networks, including online sales, will drive market access and boost global sales.

Technology in Manufacturing: Advancements in extrusion technology will allow manufacturers to create innovative snack options with better texture and flavor profiles, expanding market possibilities.

By 2032, the market will continue to benefit from these trends, with healthy, convenient, and sustainable snacking options capturing a large share of consumer attention.

Competitor Analysis

The extruded snack food market is highly competitive, with several global and regional players vying for market share. Some of the prominent companies in the market include:

Chipita S.A.: Chipita is a leading player in the snack food industry, known for its innovative range of extruded snack products. The company has a strong presence in Europe and expanding markets globally.

Bunge North America, Inc.: Bunge is a major player in the food processing industry and offers a wide range of extruded snack food products. Their expertise in agriculture and manufacturing has allowed them to produce a diverse array of snacks.

Clextral: Clextral is a key provider of extrusion systems for food manufacturing. Their cutting-edge technology allows for the production of high-quality extruded snacks, particularly in Europe.

Others: Other major players include PepsiCo (with its Lay’s and Doritos brands), Kellogg’s, General Mills, and Mondelez International. These companies continue to innovate in the snack food sector, ensuring competitive dynamics.