Snack Pellets Market Research Future Insights
The Snack Pellets market is expected to register a CAGR of 5.6% from 2022 to 2030 and hold a value of over ~USD 2.80 Billion by 2030.
Snack pellets are semi-finished products usually made from raw ingredients such as potatoes, corn, rice, tapioca, and cereals. These items are usually sold to snack factories and then process them using methods like frying or hot air baking. The final product is a ready-to-eat snack that has flavoring ingredients and a diet format. The current healthy living trend has made customers prefer simpler and healthier snacks, which has helped the market value and growth of snack pellets. The COVID-19 pandemic has resulted in a massive loss of human life around the world, posing an unprecedented challenge to public health, food systems, and the workplace. This has resulted in a significant shift in the healthy food segment, and as a result, the snack pellets market share and Snack Pellets Market Size are projected to see an increase in demand as a result of the COVID-19 scenario around the world. The need for optimal immunity, particularly during pandemics, has increased the demand for snack pellets in the retail market.
Key Players
Some of the key market players are 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), Novozymes A/S (Denmark), Quality Pellets A/S (Denmark), Chhajed Foods Pvt. Ltd. (India), Pellsnack-Products GmbH (Germany).
Market Segmentation
The global snack pellets market research has been segmented into type and form.
Based on type, the market has been segmented into potato-based, corn-based, rice-based, tapioca-based, multigrain-based, and others. The multigrain cereals segment is anticipated to be the fastest-growing segment in the snack pellet market during the forecast period. Currently, consumer demand for cereal pellets is high due to their high fiber content. Multigrain snacks offer many health benefits and different flavors than snacks made with potatoes and corn because of their low-fat content.
Based on form, the market has been segmented into laminated, three-dimensional, die-face, gelatinized, and others. Gelatin pellets have uniform thickness and are generally flat with holes in the surface. This form is essential to maintaining shape when frying or baking. Therefore, the gelatin form of snack granules is experiencing development in the food industry.
Regional Analysis
North America has the fastest-growing snack pellet industry, due in part to an expanding number of snack companies encouraging millennials to choose snacks over sit-down meals. Europe is also a favorable market for snack pellets, as countries such as Germany and the United Kingdom have been consuming more potato-based snacks, giving rise to a demand for potato-based snack pellets. European consumers are health-conscious and the increased awareness of healthy components used in the production of snack pellets is contributing to the region's expanding demand for snack pellets.
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