Snack Pellets Market Share, Global Analysis & Opportunities by 2030
Market overview
Snack Pellets Market is expected to grow at a 5.6% CAGR and reach USD 2.80 Billion by 2030. Snack pellets are semi-finished products that are cooked by frying or by hot air expansion. They are preferred by many customers because of their longer shelf life, stability, and bulk density. Snack pellets are easier to store as compared to other eating alternatives. These are intermediate non-expanded products. They are available in different textures, colors, shapes, and tastes. The rising awareness among the people about the healthy intake of ingredients into the body is responsible for the higher demand in the global landscape.
The snack market is one of the fastest-growing markets and is continuously witnessing the growth in the latest trends in the past few years. There are different processing techniques based on increasing consumer preferences for convenience foods. The changing demand of the customers and the need for including new varieties and ingredients in the market is driving the growth of the snack pellets market outlook.
The global snack pellets market report points towards the various factors that are propelling the growth of the global market. The simplified storage, convenient and cost-effective transportation and the inclination towards new and different tastes are dominating the market growth. The rising capital of income and the adoption of global latest trends are some of the reasons that are leading to the rise in the global snack pellets market. Globalization is being considered as the stimulant in the demand for snack pellets in the forecast period until 2030.
Regional analysis
Geographically, the regions of North America, Asia-Pacific, Europe, the Middle East, and Africa are witnessing the high demand for snack pellets owing to the rise in the consumption of such products. Countries like China and India are the rising economies, supporting the snack pellets as a convenient food item. Moreover, the marketing schemes and the strategic development plans that are used in the market are driving the market in these regions. North America is also showing a rapid growth in the snack pellets market attributing to the increase in the number of snack brands that are driving the Millenials to consume such snack pellets.
Market segmentation
There are various reasons why the global snack pellets market is surging at a faster pace. The major key players are focusing on the research and development investments via joint ventures that will augment the market growth in the coming years. The introduction of the new participants that are introducing new ingredients along with good recipes that are changing the customer needs is also fuelling the growth of the global snack pellets market share. On the basis of the market segmentation based on the global snack pellets market, by type, the market can be classified into:
- Corn-based snack pellets
- Potato-based snack pellets
- Tapioca-based snack pellets
- Rice-based snack pellets
- Multi Grain-based snack pellets
- Others
By the form, the global snack pellets market can be classified into:
- Die-face
- Laminated
- Three-dimensional
- Gelatinized
- Others
Industry news
Nestle, one of the world’s leading brand in packaged food items and chocolates, believe that snacks are as important as essential food items. Nestle is striving to meet demands. According to the company, it is considering to meet demands on priority. Nestle also confirms that it is working towards its 2030 goals and all of its businesses, even those in the premium category, are doing well.
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