Global Snack Pellets Market - 2023-2030

Market Overview

Global Snack Pellets Market reached US$ 2.9 billion in 2022 and is expected to reach US$ 4.3 billion by 2030 growing with a CAGR of 5.1% during the forecast period 2023-2030.

Snack pellets serve as the base material for producing various types of snacks, including extruded snacks, puffed snacks, and grain-based pellets. Extruded snacks are snacks that are made by forcing snack pellet dough through a die under high pressure and temperature. This process gives them their characteristic expanded and crispy texture. Extruded snack pellets are popular for creating products like cheese puffs, cheese balls, and crunchy twists.

Consumers are becoming more conscious about the ingredients used in their snacks. They are looking for clean-label products that contain natural and recognizable ingredients. Snack pellet manufacturers are responding by incorporating natural ingredients and avoiding artificial additives, flavors, and preservatives.

Market Dynamics

Rise in Demand for Prepared and Convenient Food is Driving the Snack Pellets Market

Modern lifestyles are increasingly fast-paced, with many people having limited time for meal preparation. This has led to a growing demand for prepared and convenient food options, including snacks that can be consumed on the go or quickly prepared. Snack pellets provide a convenient solution as they can be easily stored, transported, and prepared into a variety of snack products.

The demand for on-the-go snacking options has risen due to factors such as busy work schedules, commuting, and increased travel. Snack pellets can be transformed into portable and convenient snacks that can be easily carried and consumed anywhere, fulfilling the need for quick and accessible food.

Increasing Demand for Healthy and Natural Snacks is Expected to Foster the Snack Pellets Market

Consumers are more informed about the nutritional content of the foods they consume. The overall volume of snacks being consumed is rising, with 54% of UK consumers admitting to snacking when they are bored. They are looking for snacks that offer nutritional benefits such as higher fiber content, whole grains, lower sodium levels, and reduced saturated fats. Snack pellets can be formulated with nutritious ingredients, allowing manufacturers to meet the demand for healthier snacks.

Whole grains and plant-based ingredients are gaining popularity due to their perceived health benefits. Snack pellets made from whole grain flours or plant-based ingredients like legumes or vegetables can provide a healthier snacking option for consumers seeking wholesome and nutrient-dense snacks.

High Acrylamide Content in Snack Foods is Holding Back the Snack Pellets Market

Acrylamide is a chemical compound that can form naturally in certain foods during high-temperature cooking processes, such as frying, baking, or roasting. It is a concern because studies have suggested that high levels of acrylamide consumption may have potential adverse health effects. Regulatory agencies in various countries have implemented guidelines or regulations to mitigate acrylamide levels in food products, including snack foods. For instance, the European Union has set maximum limits for acrylamide content in certain food categories. These regulations require snack food manufacturers to monitor and reduce acrylamide levels in their products to comply with the regulatory standards.

Increasing consumer awareness of acrylamide and its potential health risks has led to a preference for snack products with lower acrylamide levels. Health-conscious consumers may actively seek out snacks with reduced acrylamide content or opt for alternative snack options that are perceived to have lower acrylamide levels.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global snack pellets market is segmented based on type, form, flavor, and region.

By Form, the Gelatinized Segment is Estimated to have Significant Growth During the Forecast Period

Gelatinized snack pellets have gained popularity due to their versatility in terms of flavor, texture, and shape. They can be easily molded into various forms such as tubes, rings, balls, and more. This versatility allows snack manufacturers to cater to a wide range of consumer preferences, enhancing their market appeal.

Gelatinized snack pellets expand significantly when subjected to high temperatures, such as during frying. This expansion leads to a light and crispy texture, which is highly desirable in the snack industry. The resulting product offers a satisfying crunch, which is a key characteristic that many consumers seek in snack products.

Geographical Analysis

Asia Pacific is the Fastest Growing Market in the Snack Pellets Market

The Asia Pacific region has the largest population globally, with countries such as China and India having high population densities. The rising population, coupled with increasing urbanization and changing lifestyles, has led to an increased demand for convenient and ready-to-eat snacks, including snack pellets. This demographic trend contributes to the growth of the snack pellets market in the region.

The Asia Pacific region has witnessed significant economic growth in recent years. Rapid industrialization, increased disposable income, and a burgeoning middle class have fueled consumer spending and purchasing power. According to the National Library of Medicine, studies show among adults estimates of snacking in young children under seven years old in Japan and Hong Kong approximates 20-22% of total energy intake. As a result, there is a growing demand for packaged and convenience foods, including snack pellets, which are seen as affordable and convenient snack options.

Competitive Landscape

The major global players in the market include Archer Daniels Midland, Takasago International Corporation, Huabao International Holdings Limited, Symrise AG, Kerry Group, Plc., Firmenich SA, Robertet SA, Frutarom Industries Ltd., Sensient Technologies Corporation, and Givaudan International SA.

Why Purchase the Report?

• To visualize the global snack pellets market segmentation based on type, form, flavor, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of snack pellets market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global snack pellets market report would provide approximately 61 tables, 60 figures and 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies