Extruded Snacks Market to Grow 4.9% Annually Through 2023

The global extruded snacks market is forecast to expand at a CAGR of 4.9% between 2018 and 2023, according to a report by Market Research Future. The growth is primarily attributed to a growing consumer preference for healthier snack alternatives and the convenience of ready-to-eat packaged foods.

The extrusion process, which blends mixing, cooking, and shaping, allows for the creation of nutritious and appealing snacks. Savory extruded snacks currently dominate the market. While potato-based products are the most common source ingredients, rice and corn-based snacks are expected to experience significant growth. Innovations in flavors and effective marketing strategies are also contributing to the market's upward trajectory.

Store-based retail channels, particularly hypermarkets and supermarkets, lead in distribution due to extensive product variety and customer choice. Geographically, the Asia Pacific region holds the largest market share, driven by affordability and wide product availability, with India being a key contributor. North America and Europe are also showing substantial growth powered by rising health consciousness.

Key players in the market include Calbee, Inc., Kellogg Co., and Frito-Lay North America. Recent industry developments, such as GEA's acquisition of Pavan Group and Prataap Snacks' new product launches, highlight the dynamic nature of this sector.