The report “Snack Pellet Equipment Market Product Type (Potato-Based, Corn-Based, Rice-Based, Tapioca-Based, Multigrain-Based), Form (2D, Tridimensional, Die-Faced), Equipment Type (Extrusion, Mixing, Cutting, Drying, Frying, Seasoning), and Region – Global Forecast to 2025″ The snack pellet equipment market is estimated to account for nearly USD 1.0 billion in 2019 and is projected to reach a value of nearly USD 1.4 billion by 2025, recording a CAGR of 5.2% from 2019. Due to busy lifestyles and professional commitments, individuals have limited time to prepare food at home. The snack pellet market is driven by the increasing need for convenience foods due to the busy lifestyles of consumers. Thus, increasing consumer preference for processed foods indirectly contributes to the growing demand for snack pellets as they require less time and efforts to prepare. This, in turn, is projected to drive the growth of the snack pellet equipment market.
- To define, segment, and project the global market size for snack pellet equipment
- To understand the structure of the snack pellet equipment market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To project the size of the market and its submarkets, in terms of value, with respect to regions (along with their respective key countries)
- To understand the competitive landscape and identify major growth strategies adopted by players across key regions
- To analyze the competitive developments such as expansions & investments, new product launches, mergers & acquisitions, joint ventures, and agreements
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The extrusion segment is estimated to dominate the global snack pellet equipment market in 2019.
By equipment type, the extrusion segment is estimated to dominate the global snack pellet equipment market in 2019. The food industry requires high-quality and reliable equipment with advanced functionalities to produce effective results and satisfy the needs of consumers. Manufacturers in the snack pellet extrusion market are mainly focusing on producing various forms of snack pellets for their customers globally. With the advancements in technology, the designs of extrusion screws have improved over the years with new innovations. The two major types of extrusion equipment are single-screw extruder and twin-screw extruder. The demand for these screws remains high due to their enhanced productivity and ability to manufacture snack pellets of high-quality at low cost. At the design stage of the extrusion process, it is crucial to evaluate the performance of the screw.
The multigrain-based segment is projected to grow at the highest CAGR during the forecast period in the snack pellet equipment market.
By product type, the multigrain segment is estimated to grow at the highest CAGR during the forecast period. Multigrain snack pellets are made of various grain types that have high nutritional value. Earlier, a single grain type was used to produce snack pellets, which limited the nutritional value of the products. Currently, the consumer demand for multigrain snack pellets has increased rapidly as these have high fiber content. With low-fat content, they have higher health and taste benefits as compared to the potato- and corn-based snack pellets. The rising health consciousness among young population has led to an increase in the demand for multigrain snacks, as they are easy to produce, healthy fillers between meals, and convenient to digest. Due to the rising demand, snack pellet manufacturers have added new shapes, forms, and flavors to their existing product portfolio, which in turn, has led to an increase in the demand for snack pellet equipment.
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The Asia Pacific market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific is projected to witness the fastest growth during the forecast period. Population growth, rapid urbanization, and the rise in consumer awareness about the benefits of snack pellet are key factors driving the demand for snack pellet equipment in the region. The region is the third-largest potato producer in the world. Potato production has rapidly increased in the last two decades due to the expansion of the land area in the Indo-Gangetic Plains. Due to these factors, consumption has also increased in parallel with the increasing popularity and demand as a vegetable in urban diets.
Key Market Players:
Key players in this market include Clextral (France), GEA Group (Germany), Buhler AG (Switzerland), N.P. & Company, Inc. (Japan), Kiremko B.V. (Netherlands), JAS Enterprises (India), Grace Food Processing & Packaging Machinery (India), Tsung Hsing Food Machinery Co., Ltd. (Taiwan), AC Horn Manufacturing (US), Jinan Dayi Extrusion Machinery Co., Ltd (China), Mutchall Engineering Pvt. Ltd (India), and Radhe Equipments India (India).
- In November 2017, GEA (Germany) acquired Pavan Group (Italy) to expand in the snack pellet equipment market and increase their market share.
- In December 2016, Clextral launched EVOLUM+ twin-screw extruders, which is equipped with advanced technology and provides high flexibility and control for developing high product quality and stability.
- In May 2013, Kiremko BV expanded its French-fries production facility by new building a, which is a French fries production line in Belgium. It has a capacity of nearly 16 ton/hr of French fries with a fast-food specification.