Snack Pellets Market to See Major Growth by 2023 | Key Players are – Limagrain Cereales Ingredients, Liven S.A., Grupo Michel, Pellsnack-Products GmbH

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Snack Pellets Market to See Major Growth by 2023 | Key Players are – Limagrain Cereales Ingredients, Liven S.A., Grupo Michel, Pellsnack-Products GmbH

February 26
13:30 2020
Snack Pellets Market to See Major Growth by 2023 | Key Players are - Limagrain Cereales Ingredients, Liven S.A., Grupo Michel, Pellsnack-Products GmbH

The snack pellets market is estimated to account for about USD 2.0 billion in 2018 and is projected to reach a value of about USD 2.5 billion by 2023, growing at a CAGR of 5.3% from 2018.

The snack pellets market, in terms of value, is estimated to account for about USD 2.0 billion in 2018 and projected to grow at a CAGR of 5.3% to reach about USD 2.5 billion by 2023. In terms of volume, it is projected to reach 1,840.3 KT by 2023, growing at a CAGR of 3.9% from 2018. The global snack pellets market in the food & beverage industry has been growing significantly in accordance with the processed food industry. The growing awareness about health and wellness has led to an increased demand for healthy food ingredients, thereby contributing to the demand for healthier and multigrain-based snack pellets products.

Snack Pellets Market

Government initiatives and investments to expand the processed and extruded food sectors will provide growth opportunity.

The demand for extruded snacks is expected to rise in emerging markets such as China, India, Brazil, and Russia, due to increasing consumer preference toward ready-to-eat food products. To tap these markets, snack manufacturers are increasing their production, due to which the requirement for food extruders is increasing in the region. Globally, the demand for extruded snacks is increasing. This is encouraging snack pellet manufacturers to expand and improve their production facilities. In Europe, high demand is witnessed for processed snack products. The European Snacks Association (ESA) has supported the markets for snacks and snack pellets by bringing together various stakeholders associated with the snacks industry. The association arranges various trade shows, conferences, and publishes technical insights for promoting trade by sharing knowledge. The ESA takes the responsibility to inform the members of the current and emerging trends of the association. Also, the North American Association of Food Equipment Manufacturers provides all the support in terms of technical expertise and other guidance to set up, expand, or upgrade businesses. Such initiatives by governments are helping snack pellet manufacturers to expand their business, hence creating an opportunity for the growth of the snack pellet market.

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Operational complexity during food processing is a major challenge for the snack pellets market.

The viscosity, screw speed, temperature, and pressure, along with the complexity of the mathematical descriptions of the process, are closely inter-related. These dynamics present a challenge for accurate dynamic modeling of the extrusion process. Also, there are several load variables for viscosity regulations, depending on the choice of the manipulation variable, which may present disturbances. Extra caution needs to be taken while processing functional products, as there may be a loss of nutrients of the ingredients during processing. Such factors are the major challenges in snack pellets processing, and hence, can hinder the growth of the overall snack pellets market.

The snack pellets market is witnessing a strong growth due to the increasing usage of twin-screw extruders in the snack industry.

Twin-screw extruders consist of two intermeshing and co-rotating screws mounted on splined shafts in a closed barrel. This equipment offers numerous advantages over single-screw extruders. As a result, these extruders witness an increasing demand from various manufacturers in the food processing industry. Twin-screw extruders have various possible configurations for producing different shapes of snack pellets with the help of counter-rotating screws, as compared to the single-screw extruders. These extruders also offer various advantages, such as extrusion of heat-sensitive products, rapid mixing characteristics, and reduced volatilization of flavors, to end users.

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North America is estimated to dominate the snack pellets market in 2018.

North America is estimated to account for the largest market share for snack pellets in 2018. Because of the abundant availability of raw materials and the presence of a strong food processing industry, North America holds the largest share of the snack pellets market, in terms of both volume and value. Additionally, snacks made from potatoes are highly preferred by consumers. These factors are responsible for the largest share of potato-based snack pellets in the region.

This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies in the snack pellets market. It includes the profiles of the leading companies such as Limagrain Céréales Ingrédients (France), Liven S.A. (Spain), Grupo Michel (Mexico), Leng dOr S.A. (Spain), and Pellsnack-Products GmbH (Germany).

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