Increased Consumption of Packaged Foods Due to a Busy Lifestyle Has Largely Boosted the Demand for Snack Pellets Market

Increased demand for food products such as chips, crackers, and all the snack pellets ultimately drives the growth of packaged food products. As the urban population and the number of working individuals are increasing tremendously, the consumption of fast-food products such as snacks and snack pellets is also gaining pace. Private sectors have a hectic schedule, and it is tiring for employees to spend long hours cooking food. Hence, they prefer packaged food products, such as potato chips, cereal-based chips, crackers, puffs, and others which reduces the time of consumers and helps their busy lifestyle. Therefore, the global snack pellets market is estimated to increase rapidly in the near future.

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Data Bridge Market Research analyses that the snack pellets market is expected to grow at a CAGR of 5.8% in the forecast period of 2022 to 2029 and is expected to reach USD 12,145.66 million by 2029. Furthermore, consumers spending more time working and studying from home, increased their consumption of savory snacks, thus, boosting the demand for snack pellets across the globe. With rising demand and the inability of the brick and mortar stores to fulfill it, consumers shifted their buying preference to online stores. As a result, the savory snacks and snack pellets manufacturers capitalized on such opportunities to optimize their operations and product availability in stores to cater to the growing demand.

Snack Pellets Market

Availability of Various Flavors in Chips and Crackers is expected to drive the Market's Growth Rate

Chips and crackers are usually made with a vegetable oil such as olive oil, which contains omega-6 fatty acid, the linoleic acid. When it comes to snacking, consumers always prefer potato chips as they are light, crispy, and full of good taste. Furthermore, consumers generally opt for flavorful chips & crackers to enhance the taste. Thus, manufacturers fulfill these demands of consumers by consistently launching new flavors of potato-based, cereal-based chips, and crackers. In addition, manufacturers use it as a marketing strategy and launch new products in the market. For instance, According to DRUG STOR NEWS, In April 2021, Goldfish launched hot sauce-flavored crackers under brand Frank’s RedHot. Thus, by launching and introducing a variety of flavored chips and crackers manufacturers are attracting consumers of snack pellets which are driving the growth of the market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020(Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Type (Crackers, Chips, Puffs, and Others), Form (Laminated, Die Faced, Gelatinized, Punched, Die Distance, Tridimensional and Two Dimensional), Shape (Round, Oval, Ring, Triangular, Square, Star, and Others), Ingredients (Potato, Corn, Rice, Tapioca, Multigrain, and Others), Processing Method (Greasy Snack Pellet and Non-Greasy Snack Pellet), Nature (Organic and Conventional), Technique (Single-Screw Extruder and Twin-Screw Extruder),  Brand (Branded and Private Label), Flavor (Plain and Flavor), Application (Household and Commercial), Distribution Channel (Direct and Indirect)

Countries Covered

U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa

Market Players Covered

BACH SNACKS SAL (Lebanon), Calbee (Japan), McFills Enterprises Pvt. Ltd. (India), Sibell (Aubagne), J.R. Short Snack Products (U.S.), GRUPO MICHEL (Mexico), LC America, Inc. (U.S.), Akkel Group. (Syria), Almounajed Food Industries (Egypt), Chhajed Foods Pvt. Ltd (India), Fiorentini Alimentari S.p.A. (Italy), Gustinos (Mexico), Jedność Sp. z o. o (Mexico), Productos Alimenticios La Moderna S.A. de C.V. (Poland), Le Caselle SPA (Italy), Noble Agro Food Products Private Limited (India), Oriental Food Industries Sdn. Bhd. (Malaysia), Snack Creations Ltd. (U.K.), Palmex (Mexico), GUANGDONG YUSHENG FOOD INDUSTRIES CO., LTD. (China), VMF (Van Marcke Foods) Continental Snacks (Netherlands), Roger&Roger (Belgium)

Data Points Covered in Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Segment Analysis:

The global snack pellets market is segmented into eleven notable segments based on type, form, shape, ingredients, processing method, nature, technique, brand, flavor, application and distribution channel.

  • On the basis of type, the global snack pellets market is segmented into crackers, chips, puffs and others (if any). In 2022, the chips segment is expected to dominate the market, growing with a CAGR of 6.3% in the forecast period of 2022 to 2029 owing to the increased demand for various types of chips such as potato, rice, wheat and others. In addition, the easy availability and variety of flavors available in chips is expected to grow the market in coming years.
  • On the basis of form, the global snack pellets market is segmented into laminated, die faced, gelatinized, punched, die distance, tridimensional and two dimensional. In 2022, the tridimensional segment is expected to dominate the market, growing with a CAGR of 7.3% in the forecast period of 2022 to 2029 owing to its unique shape and texture.
  • On the basis of shape, the global snack pellets market is segmented into round, oval, ring, triangular, square, star and others (if any). In 2022, the oval segment is expected to dominate the market, growing with a CAGR of 7.4% in the forecast period of 2022 to 2029 as it is the most traditional and ideal shape when it comes to chips, crackers and snacking and consumers tend to prefer the oval shaped snack pellets.
  • On the basis of ingredients, the global snack pellets market is segmented into potato, corn, rice, tapioca, multigrain and others. In 2022, the multigrain segment is expected to dominate the market, growing with a CAGR of 6.7% in the forecast period of 2022 to 2029 increased demand for healthy and organic food products. In addition, consumers replacing their meal with snacking and demand snacks with nutritional value that is driving the growth of the segment.
  • On the basis of processing method, the global snack pellets market is segmented into greasy snack pellet and non-greasy snack pellet. In 2022, the greasy snack pellets segment is expected to dominate the market, growing with a CAGR of 5.9%

The greasy snack pellets segment is expected to dominate the market

In 2022, the greasy snack pellets segment is expected to dominate the market, growing with a CAGR of 5.9% in the forecast period of 2022 to 2029 owing to enhanced flavor and texture that can be achieved by greasy or deep frying. In addition, consumers prefer crispy and enhanced textured snacks which is achieved by greasing method that is driving the segments growth.

  • On the basis of nature, the global snack pellets market is segmented into organic and conventional. In 2022, the conventional segment is expected to dominate the market, growing with a CAGR of 5.7% in the forecast period of 2022 to 2029 due to the increase in demand for conventional snack pellets globally due to its easy availability and affordability.
  • On the basis of technique, the global snack pellets market is segmented into single-screw extruder and twin-screw extruder. In 2022, the single screw extruder segment is expected to dominate the market, growing with a CAGR of 5.6% in the forecast period of 2022 to 2029 owing to its easy to use nature and affordable prices.
  • On the basis of brand, the global snack pellets market is segmented into branded and private label. In 2022, the branded segment is expected to dominate the market with a 76.44%market share and is expected to reach USD 9,204.64 million by 2029, growing with a CAGR of 5.7%in the forecast period of 2022 to 2029 as consumers prefer branded food products to ensure the quality of the food in order to stay safe and maintain the hygiene.
  • On the basis of flavor, the global snack pellets market is segmented into plain and flavor. Flavor is further sub-segmented into mint, chile, BBQ, lemon, tomato, chocolate, cheese, caramelized, honey, black pepper, herb, jalapenos, garlic, chipotle, salsa and others. In 2022, the flavor segment is expected to dominate the market, growing with a CAGR of 6.1%

The flavor segment is expected to dominate the market

In 2022, the flavor segment is expected to dominate the market, growing with a CAGR of 6.1% in the forecast period of 2022 to 2029 as consumers are more inclined toward enhanced tastes and flavors and they want to try new flavors that is driving the growth of the segment.

  • On the basis of application, the global snack pellets market is segmented into household and commercial. In 2022, the commercial segment is expected to dominate the market with a 62.74% market share and is expected to reach USD 7,711.20 million by 2029, growing with a CAGR of 6.0% in the forecast period of 2022 to 2029 as snack pellets manufacturers’ sale these products for commercial purpose in major amounts.
  • On the basis of distribution channel, the global snack pellets market is segmented into direct and indirect. In 2022, indirect segment is expected to dominate the market with a 71.17% market share and is expected to reach USD 8,610.09 million by 2029, growing with a CAGR of 5.7% in the forecast period of 2022 to 2029 due to the change in the buying pattern of consumers and easy accessibility of products in nearby stores, online portals, specialty stores etc. is expected to increase the demand for snack pellets in the direct distribution channel.

Major Players

Data Bridge Market Research recognizes the following companies as the major snack pellets market players in snack pellets market are BACH SNACKS SAL (Lebanon), Calbee (Japan), McFills Enterprises Pvt. Ltd. (India), Sibell (Aubagne), J.R. Short Snack Products (U.S.), GRUPO MICHEL (Mexico), LC America, Inc. (U.S.), Akkel Group. (Syria), Almounajed Food Industries (Egypt), Chhajed Foods Pvt. Ltd (India), Fiorentini Alimentari S.p.A. (Italy), Gustinos (Mexico), Jedność Sp. z o. o (Mexico), Productos Alimenticios La Moderna S.A. de C.V. (Poland), Le Caselle SPA (Italy), Noble Agro Food Products Private Limited (India), Oriental Food Industries Sdn. Bhd. (Malaysia), Snack Creations Ltd. (U.K.), Palmex (Mexico), GUANGDONG YUSHENG FOOD INDUSTRIES CO., LTD. (China), VMF (Van Marcke Foods) Continental Snacks (Netherlands), Roger&Roger (Belgium) 

Snack Pellets Market

Market Development

  • In January 2022, Clearlake Capital Group decided to sell Hain Celestial ParmCrisps, a fast-growing, better-for-you brand that offers delicious, simple consumer favorites products. The acquisition strengthens Hain's position in the snacking market and is critical to establishing Hain as a worldwide healthy food brand with strong development potential.
  • In January 2022, Chipita Global S.A. has been acquired by Mondelez International. The acquisition is a significant step forward in the company's strategic plan, which aims to accelerate growth in core snacking areas while also increasing its footprint in key regions.
  • In February 2020, Be & Cheery, also known as Hanfzhou Haomusi Food Co Ltd, was acquired by PepsiCo. Pepsico was able to expand its snack assortment as a result of the acquisition. It also expanded its customer base in China by leveraging Be & Cheery's long-standing brand, production and sourcing knowledge, and innovation and consumer insights capabilities.

Regional Analysis

Geographically, the countries covered in the snack pellets market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in snack pellets market during the forecast period

Asia-Pacific dominated the snack pellets market owing to the constantly increasing population's consumption of snacks and convenience foods. Asia-Pacific will continue to dominate the snack pellets market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the fact that snacks are becoming more popular in developing economies like China and India as a convenient dietary item to support their hectic schedules in this region. 

North America is estimated to be the fastest-growing region in snack pellets market

North America is expected to grow during the forecast period due to the expanding number of snack companies in this region. In addition to this, a variety of interesting flavors and forms are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

COVID-19 has disrupted the supply chain and reduced the growth of the snack pellets market. Disruptions have led to delayed stock as well as lower access, supplies, and consumption of snack items. With the persistence of COVID-19, there have been restrictions on transportation, import, and export of food & beverage products. Also, with the movement restriction on workers as well, the manufacturing of snack pellets has been affected, due to which the demand for consumers has not been fulfilled.

Also, with restrictions on import and export, it became difficult for the manufacturers to supply the raw materials and their end products across the country, which has impacted the prices of snack pellets. Thus, due to COVID-19, the supply chain for food was disrupted, which has created a major challenge for the market. However, manufacturers are now coping with the situation as many of the restrictions have been removed.

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