The global extruded products market is currently valued at USD 214.86 billion for 2024 and is projected to grow steadily at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031, reaching approximately USD 283 billion by 2031. This growth is primarily driven by increasing consumer demand for healthier and more convenient food options, including protein-packed snacks, multigrain-based extruded products, and baked goods, according to Fairfield Market Research.
Market Insights
The demand for extruded products is rising due to their expanding applications across various food segments, including snacks, baked goods, and processed foods. As consumers prioritize healthy eating, manufacturers are increasingly introducing products that cater to these preferences, facilitating market expansion. Functional foods-such as extruded snacks made from plant-based proteins and multigrain ingredients-are becoming more popular due to their health benefits and convenience.
Key Drivers
1.Growing Demand for Protein-Packed Snacks: The global trend toward health and fitness is a significant driver of the extruded products market, particularly for high-protein snacks. Consumers are actively seeking functional and fortified foods that combine convenience with nutritional benefits. Protein-enriched extruded snacks, derived from both plant-based and animal-based sources, are designed to provide on-the-go, nutrient-dense options for active lifestyles.
2.Increasing Popularity of Multigrain-Based Extruded Snacks: Cereal grains, which are key components of extruded products, are rich in carbohydrates, fiber, proteins, and essential micronutrients. Multigrain extruded snacks, which combine various grains, have gained popularity as healthier alternatives to traditional snacks like corn and potato chips. Companies like The Kellogg Company are capitalizing on this trend by offering grain-based snacks and breakfast cereals that cater to the growing interest in grain-enriched diets.
3.Expansion of E-Commerce Platforms in Developing Regions: The rise of e-commerce, particularly in developing countries, has made it easier for consumers to access extruded products. The expansion of online platforms has enabled manufacturers to reach new markets and offer a broader variety of products. Leading companies such as San Carlo Gruppo Alimentare, Shearer's Foods, and Wyandot Snacks are focusing on enhancing their online presence and distribution capabilities to leverage this growing sales channel.
Challenges
A primary challenge facing the extruded products market is the stringent regulations imposed by food safety authorities, particularly in North America and Europe. Regulatory bodies such as 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 over the formation of harmful substances like Acrylamide during the extrusion process have led to increased regulatory scrutiny. These regulations can elevate production costs and potentially slow market growth if companies find it difficult 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 rising urbanization, an expanding working population, and increasing demand for processed foods. Countries such as India and China are witnessing a shift in consumer behavior, with "snackification"-the trend of replacing traditional meals with snacks-gaining traction. These trends position Asia-Pacific as a highly lucrative market for extruded products.
2.Strong Demand for Baked Goods: The global market for extruded baked products is valued at USD 39.3 billion for 2024 and is projected to grow at a CAGR of 3.9%. The increasing variety of extruded bakery items, along with rising consumer interest in novelty baked goods, is expected to further stimulate demand in the coming years.
Regional Insights
North America and Europe 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 strong consumer interest in organic and healthy extruded snacks, particularly as the focus on wellness continues to grow.
Competitive Landscape
Major players in the extruded products market are actively expanding their product portfolios to meet the rising demand for healthy and functional foods. Companies are also investing in supply chain improvements 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.
Market Segmentation of Extruded Products
By Nature:
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