Snack Pellets Market is expected to rise from its initial estimated value of USD 1.98 billion in 2018 to an estimated value of USD 3.03 billion by 2026, registering a CAGR of 5.5% in the forecast period of 2019-2026. The rising preference of packaged and convenience foods is driving this market growth for snack pellets.
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Snack pellets are half-done eatable products, which need to be processed by either frying or hot air baking, before consumption. The availability of these snack pellets in a variety of flavours, shapes, colours, tastes, and ingredients are driving the market growth providing the consumer with a large diversity. The busy lifestyle of consumers and increasing preference of packaged, ready-to-eat foods is also driving the market growth.
- Increase in preference of packaged and convenience food is expected to drive the market growth
- Greater diversity and innovations related to snack pellets and expanding retail landscape in all the regions is also expected to drive the market growth
- Rising levels of health concerns due to the consumption of packaged foods and potato snacks
- Presence of acrylamide in processed and packaged foods, and harmful concerns related to high exposure to acrylamide is also expected to act as a restraint to the market growth
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Competitive Analysis: Global Snack Pellets Market
The global snack pellets market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of snack pellets market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Market Segmentation: Global Snack Pellets Market
- By Ingredient
- Cereal Grains Other Than Rice or Corn
- Other Vegetables
- By Product
- By Equipment
- Single-Screw Extruder
- Twin-Screw Extruder
- By Process
- Hot Air Baking
- By Flavour
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
Key Market Competitors: Global Snack Pellets Market
Few of the major competitors currently working in the Snack Pellets Market are Limagrain Céréales Ingrédients SAS, Liven, Grupo Industrial Michel, PELLSNACK PRODUCTS GMBH, Pasta Foods, NOBLE AGRO FOOD PRODUCTS PVT.LTD., Le Caselle, Van Marcke Foodgroup, Akkel Group, Balance Foods LLC., Chhajed Foods, Bunge Limited, Quality Pellets, Intersnack Group GmbH & Co. KG, Classic Foods, and Prataap Snacks Ltd.
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