Extruded Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, Geographic Coverage and By Company)

The global extruded products market, currently valued at USD 214.86 billion for 2024, is forecasted to experience steady growth at a 4.0% CAGR from 2024 to 2031. According to analysis by the publisher, the market is expected to reach USD 283 billion by 2031. This growth is driven by increasing consumer demand for healthier and more convenient food options, including protein-packed snacks, multigrain-based extruded products, and baked goods.

Market Insights:

The rising demand for extruded products comes from their growing use across various food segments, such as snacks, baked goods, and processed foods. As consumers continue to prioritize healthy eating, manufacturers are increasingly offering products that cater to these preferences, resulting in market expansion. Functional foods, such as extruded snacks made from plant-based proteins and multigrain ingredients, are gaining popularity for their health benefits and convenience.

Key Drivers:

1. Growing Demand for Protein-packed Snacks:

The global health and fitness trend is a major driver of the market for extruded products, particularly high-protein snacks. Consumers are seeking out functional and fortified foods that offer both convenience and nutritional benefits. Protein-enriched extruded snacks, made from plant-based or animal-based protein sources, meet this demand. These products are designed to provide consumers with on-the-go, nutrient-dense snack options that support active lifestyles.

2. Increasing Popularity of Multigrain-based Extruded Snacks:

Cereal grains, a key component of extruded products, are rich in carbohydrates, fiber, proteins, and essential micronutrients. Multigrain extruded snacks, which combine various grains, have grown in popularity as healthier alternatives to traditional corn and potato chips. Companies like The Kellogg Company have capitalized on this trend by offering grain-based snacks and breakfast cereals, which cater to consumers’ increasing interest in grain-enriched diets.

3. Expansion of E-Commerce Platforms in Developing Regions:

The rise of e-commerce, especially in developing countries, has made it easier for consumers to access extruded products. Online platforms have expanded significantly, allowing manufacturers to reach new markets and offer a wider variety of products. Leading companies such as San Carlo Gruppo Alimentare, Shearer’s Foods, and Wyandot Snacks have focused on strengthening their online presence and distribution capabilities to take advantage of this growing sales channel.

Challenges:

One of the primary challenges facing the extruded products market is the stringent regulations imposed by food safety authorities, particularly in regions such as North America and Europe. Regulatory bodies like the U.S. Food and Drug Administration (FDA) and the Centers for Disease Control and Prevention (CDC) have implemented strict guidelines for the production of processed foods to ensure consumer safety. Concerns related to the formation of harmful substances like Acrylamide during the extrusion process have led to increased oversight. These regulations can increase production costs and may slow market growth if companies struggle to comply with safety standards.

Business Opportunities:

1. Growth Potential in Asia-Pacific:

The extruded products market in East and South Asia is expected to grow at a rate of 4.7% in the coming years. This growth is driven by the region's rising urbanization, expanding working population, and increasing demand for processed foods. Countries such as India and China are seeing a shift in consumer behavior, with snackification - replacing traditional meals with snacks - gaining popularity. These trends make Asia-Pacific a highly lucrative market for extruded products.

2. Strong Demand for Baked Goods:

Extruded baked products are in high demand, with the global market valued at USD 39.3 billion for 2024 and projected to grow at a 3.9% CAGR. The increasing variety of extruded bakery items, along with consumer interest in novelty baked goods, is expected to further boost demand in the coming years.

Regional Insights:

North America and Europe continue to dominate the global extruded products market, holding a combined value share of over 40%. North America’s market is valued at USD 82.6 billion, while Europe’s is estimated at USD 35.7 billion for 2024. These regions are characterized by high consumer interest in organic and healthy extruded snacks, particularly as the focus on wellness grows.

Competitive Landscape:

Major players in the extruded products market are actively expanding their product portfolios to meet growing consumer demand for healthy and functional foods. Companies are also investing in strengthening supply chains and forming strategic alliances with distributors to enhance their market presence. Key market players include:

• PepsiCo
• Conagra Foods, Inc.
• The Kellogg Company
• Premier Foods PLC
• Calbee, Inc.
• Clextral S.A.S
• Shearer’s Foods, LLC
• Intersnack Group GmbH & Co KG, among others.

Extruded Products Market Segmentation

By Nature:

• Organic
• Conventional

By Source:

• Potato
• Corn
• Rice
• Tapioca
• Grains
• Cereals
• Fish, Meat & Poultry
• Other

By Product Type:

• Food Products
• Breakfast Cereals
• Snacks
• Noodles & Pasta
• Bakery Products
• Baby Foods
• Confectionery
• Frozen Food
• Feed

By Extrusion Process:

• Hot Extrusion
• Cold Extrusion

By Distribution Channel:

• Business to Business
• Business to Consumer
• Hypermarket/Supermarket
• Convenience Store
• Online Retail
• Other Retail Stores

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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