Selbyville, Delaware, May 23, 2024 (GLOBE NEWSWIRE) --
The snack pellets market valuation is estimated to be valued at USD 3.4 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing consumer demand for convenient, ready-to-eat snack options that fit modern lifestyles is driving the market growth. As urbanization and busy schedules become more common, consumers are looking for quick and easy-to-prepare snacks that do not compromise on taste or nutritional value.
As per Worldbank.org, by 2045, the urban population across the globe will grow to 6 billion. To meet the rising consumer requirement, snack pellets are largely consumed as they can be quickly fried to make a variety of snacks. The versatility of snack pellets also allows manufacturers to experiment with different flavors, shapes and ingredients that appeal to a wide range of consumers and suit different diets, such as gluten-free or low-fat options.
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Modern extrusion techniques are further making it possible to produce high-quality snack pellets with improved texture, composition, and shelf life, making them more attractive to both consumers and retailers. Moreover, manufacturers are attracted by the scale and cost-effectiveness of food pellet production leading to large-scale production and distribution. The growing popularity of private labels and the strong presence of snack pellets in retail chains and supermarkets will bolster the regional market growth.
The rice-based product type segment in the snack pellet market is likely to accelerate at a robust pace between 2023 and 2032. Rice-based snacks meet the growing consumer demand for nutritious and allergen-free snacks that are increasingly desired by health-conscious and dietary restricted people. Rice is a versatile ingredient that can be easily flavored and combined with other nutritious ingredients, allowing manufacturers to innovate and offer a variety of attractive snacks.
The gelatinized form segment in the snack pellets market will grow at a notable pace through 2032. This is owing to the unique texture it provides to pellets, resulting in satisfying crunchiness that appeals to consumers seeking a pleasurable snacking experience. The gelatinization process improves flavor absorption, allowing more distinct and enjoyable flavor profile. Manufacturers are also creating several flavored snacks taking advantage of the versatility offered by gelatinized granules. To that end, the ability to maintain structural integrity during frying will further favor the segment growth.
Europe snack pellets market is estimated to attain substantial valuation by 2032, driven by the increasing consumer preference for innovative and premium snack options that cater to diverse tastes and dietary needs. The focus on healthy eating and natural ingredients has increased the demand for snack pellets made from healthy sources, such as lentils, chickpeas, and quinoa. European consumers are also very receptive to snacks that are GMO-free, organic and devoid of artificial additives, encouraging manufacturers to develop cleaner and more sustainable snacks.
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Some of the prominent snack pellets market players include Limagrain Ingredients, Gopal Namkeen, Bach Snacks, Snack Creations, Liven S.A., Le Caselle SpA, Noble Agro Food, Quality Pellets, J.R. Short Milling, Mafin, Pasta Foods Ltd., Van Marcke Foods, Grupo Michel, Pellsnack products, and Leng d’Or S.A. These firms are focusing on innovations, mergers & acquisitions, and capacity expansions as part of their strategic initiatives. For instance, in January 2024, Chobani introduced Creations® Greek Yogurt, its new delectable dessert-inspired snack available in six enticing flavors.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Snack Pellets market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Product Type trends
2.4 Form trends
2.5 Equipment trends
2.6 Regional trends
Chapter 3 Snack Pellets Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Russia-Ukraine War Impact on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
