South and Central America Extruded Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Raw Material, Category, and Distribution Channel

The extruded snacks market in South & Central America is expected to grow from US$ 5.65 billion in 2022 to US$ 7.33 billion by 2028; it is estimated to grow at a CAGR of 4.4% from 2022 to 2028.

The demand for fortified extruded snacks is increasing owing to changing consumer preferences toward healthy snacking options, rising awareness regarding health benefits, and increasing number of health-conscious population. The demand for healthy food products has surged, replacing traditionally used corn starch, wheat starch, and other raw materials with healthy nutritional raw materials. Consumers are looking for nutritional statements and free-from claims, such as grain-free, gluten-free, GMO-free, animal-free (vegan), and allergen-free. They also want added protein, fiber, and nutrients. Furthermore, the increasing demand for healthy food products has pushed manufacturers to opt for healthy alternatives such as extruded snacks with a protein boost. Manufacturers are engaged in developing new forms of starch, which are healthier compared to traditional starch used for extruded snacks. The growing demand for healthier snacks has surged the use of tubers as a raw material for manufacturing extruded snacks, which will help develop snacks with better nutritional, functional, and sensory characteristics. Thus, the increasing requirement for fortified extruded snacks is expected to pose a growth opportunity for the extruded snacks market.

South & Central America Extruded Snacks Market Segmentation

The South & Central America extruded snacks market is segmented into raw material, category, distribution channel, and country.

• Based on raw material, the market has been segmented into roots and tubers, cereals and grains, pulses and lentils, and others. The cereals and grains segment would dominate the market in 2022. The roots and tubers segment is further categorized into potato, tapioca, and others. The cereals and grains segment is subsegmented into corn, wheat, and others.
• Based on category, the South & Central America extruded snacks market has been divided into second generation snacks and third generation snacks . The second generation snacks segment would dominate the market in 2022.
• Based on distribution channel, the South & Central America extruded snacks market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others . The supermarkets and hypermarkets segment would dominate the market in 2022.
• Based on country, the South & Central America extruded snacks market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America would dominate the market in 2022.

The key players operating in the South & Central America extruded snacks market include General Mills Inc.; Kellogg’s Company; Meiji Holdings Co. Ltd.; and PepsiCo, Inc.