Snacks Pellets Market Set for Rapid Growth by 2024 – ZMR News Magazine

Snacks Pellets Market Set for Rapid Growth by 2024

With the presence of a large pool of participants, the global snacks pellets market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Grupo International Miche, Pasta Foods Ltd., Balance Foods Inc., Intersnack Group GmBh & Co, and Leng-Dor S.A. are some of the key vendors of snacks pellets across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the snacks pellets market study.

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Citing an instance, in August 2018, Prataap Snacks Ltd, one of the rapidly emerging snack foods firms in India, declared the acquisition of Avadh Snacks Private Limited, a leading snack food manufacturer of Gujarat, for INR 1.48 billion.

As estimated in this report, the global snacks pellets market stood at US$ 5.50 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this snacks pellets market is expected to reach US$ 7.75 billion by the end of the forecast period. The main types available in this snacks pellets market are potato, mixed grains, rice, and tapioca. Among them, the demand for potato-based snack pellets is relatively higher and the trend is anticipated to remain so over the next few years, notes the snacks pellets market research report.

Escalating Healthy Snack Food Demand To Proliferate Market Size   

“Rise in intake of healthy snack foods along with easy availability of raw material availability for producers will spur the product demand over the coming years,” says the author of this snacks pellets market study. Apart from this, high investments by manufacturers in R&D activities for developing new products are projected to steer the business growth in the ensuing years. In addition, elongated product shelf life and ease of transportation is anticipated to trigger the snacks pellets market growth over the forthcoming years.

Increase in the number of new entrants into the business is likely to make the market more price-competitive, thereby obstructing the expansion of snacks pellets industry in the near future. Nevertheless, introduction of new technologies and untapped potential of emerging markets is likely to generate a huge scope for the business, thereby normalizing the impact of hindrances on the snacks pellets market, reports the study.

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High Preference for Savory Foods To Support Europe’s Regional Dominance

Regionally, Europe has been leading the worldwide snacks pellets market and is anticipated to continue on the dominant position in the years to come, states the snacks pellets market study. Mounting demand for savory foods in the region is the main factor behind the dominance of the Europe snacks pellets market. Swelling popularity of healthy snacks in Europe is another significant factor that is supporting the growth of this regional snacks pellets market.

The global snacks pellets market is segmented as follows:

By Type

  • Potato
  • Corn
  • Rice
  • Tapioca
  • Mixed Grains
  • Others

By Form

  • Laminated
  • Die-face
  • Tridimensional
  • Gelatinized
  • Others

By Equipment

  • Single Screw
  • Twin Screw Extruders

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By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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