New York, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Growing technological advancement in food equipment, a rising demand for processed foods, and innovative designs of food products are key factors contributing to high CAGR of Food Extrusion market during the forecast period.
According to the current analysis of Reports and Data, the global Food Extrusion market was valued at USD 58.75 Billion in 2018 and is expected to reach USD 87.86 Billion by year 2026, at a CAGR of 5.1%. Food extrusion is an important part of food processing technology, as it aids in manufacturing various food products of specific shapes and sizes. Major reasons driving market growth are the changing consumer lifestyles and the growing demand for healthy processed foods and snacks. Food extrusion also has many attached benefits in the form of bringing down the number of microorganisms in foods and removing natural toxins, thereby making the foods safer for consumption.
Research has shown that cooking fibers by the process of extrusion can produce changes in the structural characteristics of the fiber and physiochemical properties, while the main effect being a redistribution of the insoluble fiber to soluble fiber. Proteins are more reactive and can undergo many changes during the extrusion process of which the most important being denaturation. Enzymes, which are also a type of proteins, lose their activity after being submitted to the extrusion process due to the high temperatures and pressure.
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By region, Asia Pacific holds the largest share in the global market and will also grow at a fast rate on account of an expanding consumer base and growth in food technologies. The stringent food regulation mechanisms in some countries along with high processing time for product approvals form some significant barriers for the growth of the market. Top market players are adopting various growth strategies such as undertaking investments in new facilities, forming partnerships and exploiting the demand for functional foods in the market. Market players are exploiting market opportunities for functional foods by providing equipment that aid fast extrusion and efficient mixing outputs. The focus is at enlarging the processing sizes, while simultaneously delivering uniformity in sizes.
Further key findings from the report suggest
- By product type, the savory snacks segment holds the largest share in the food extrusion market. Changing customer lifestyles and a western trend in diets in the developing economies is increasing use of food extrusion in these segments.
- As of 2018, savory snacks held a share of 35.6% in the market and were the dominant category, by product.
- By product type, the functional ingredients segment held a market share of 11.4% in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period.
- Breakfast cereals are a growing application segment of food extrusion. Manufacturers have experimented with cereal designs for several years in order to make them more appealing for the customers, while standing out in the market. The application segment is growing fast because of high demand in the developing economies.
- By extruder type, the twin extruder segment holds the dominant market share. Their popularity arises out of the fact that they consumer significantly lower energy in comparison to single screw extruders.
- Single screw extruders hold the second largest share in the global food extrusion market. Most extruders till date are designed as being single-screwed, where this screw helps in imparting the required shape to the products.
- Top companies are exploiting market opportunities for functional foods by providing equipment that aid fast extrusion and efficient mixing outputs. The focus is at enlarging the processing sizes, while simultaneously delivering uniformity in sizes.
- By process, the hot extrusion segment holds the larger market share. The method is very popular as it helps in developing a fixed cross-sectional profile for various products such as breakfast cereals.
- By region, Asia Pacific holds the largest share in the global food extrusions market. The growing demand for extruded snacks and processed foods in the region along with the rising disposable incomes of the consumers are driving market growth.
- Europe is also a growing region for the food extrusion market. The high demand for functional foods along with experimentation in product designs by manufacturers is driving the growth of the market. The region is forecasted to grow at a CAGR of 4.8% through the forecasted period.
- The food extrusion market is home to many new innovations,that are helping in advanced and up-to-date product offerings. For example, in December 2018, Bruno Peter AG expanded its production facility by procuring a specific model of Coperion’s twin screw extruder.
- Key players profiled in the report include American Extrusion International, Bühler, The Bonnot Company, Baker Perkins, Akron Tool & Die, Coperion, Flexicon, Groupe Legris Industries, Triott Group, Lindquist Machine.
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Food Extrusion market on the basis of product type, extruder, process and region:
Product Type (Revenue, USD Million; 2016–2026)
- Savoury Snacks
- Breakfast Cereals
- Bread
- Flours & Starches
- Textured Protein
- Functional Ingredients
- Others
Extruder (Revenue, USD Million; 2016–2026)
- Single Screw Extruders
- Twin Screw Extruders
- Contra Twin Screw Extruders
Process (Revenue, USD Million; 2016–2026)
- Cold Extrusion
- Hot Extrusion
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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