Snack Pellets Market is expected to reach US$ 9,935.20 million by 2030

Rising Popularity of RTE Snacks Among Population to Drive Snack Pellets Market During Forecast Period

According to our latest market study on “Snack Pellets Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Source, Type, Form, and Geography,” the snack pellets market size is projected to grow from US$ 7,228.70 million in 2022 to US$ 9,935.20 million by 2030; the market is expected to register a CAGR of 4.1% from 2022 to 2030. The report highlights key factors driving the market and prominent players along with their developments in the market.

The surge in the consumption of high-quality convenience food owing to changing lifestyles is one of the biggest trends in the food industry. A hectic lifestyle and extended working hours drive the demand for ready-to-eat food as consumers want to save cooking time and effort. Moreover, the rising number of dual-income households in developed and developing countries contributes to the rising demand for packaged food. Ready-to-eat (RTE) snacks are also witnessing massive demand, especially among working professionals, due to the rising snacking trend in corporations. Small coffee and snack breaks to relieve work stress drive the demand for RTE snacks. Light snacks such as popcorn, chips, and puffs are popular among the younger population and children. Thus, the rising popularity of RTE snacks among consumers and growing innovations drive the global snack pellets market.

Snack Pellets Market Breakdown – by Region

The rising demand for RTE snacks is driving the global snack pellets market. Snack manufacturers are focusing on offering snacks with innovative shapes and textures to attract a large number of consumers. For instance, in June 2022, GEA Group developed a new snack format called “Cinderella’s Slippers," a snack pellet shaped like a slipper. The new format is developed to meet the challenge of dipping the snacks in the sauce without getting the fingers coated. The Cinderella Slippers snack pellet is available in three versions: Classic, Perforated, and Ribbed. Thus, the rising popularity of RTE snacks among consumers and growing innovations drive the global snack pellets market.

Bach Snacks SAL, Snack Creations Ltd, Balance Foods Inc, LENG-D'OR SAU, Quality Pellets AS, J.R. Short Milling Co, Le Caselle SpA, Mafin SRL, Noble Agro Food Products Pvt Ltd, and Societe Cooperative Agricole Limagrain are among the major players operating in the global snack pellets market. Market players are highly focused on developing high-quality and nutritious product offerings to fulfill the varied requirements of their customers. Moreover, these key players are adopting strategic development initiatives to expand their market presence. Manufacturers of snack pellets are trying to cater to the consumers’ metropolitan ways of life and add more appealing features to their products. To cater to the needs of consumers, market players are widening their product portfolios. In 2022, LENG-D'OR SAU, a Spain-based snack pellet manufacturer, announced its capacity expansion in Spain and the US to reach more than US$ 338.95 million per year. Such initiatives by key market players would aid the snack pellets market growth during the forecast period.

Impact of COVID-19 Pandemic on Snack Pellets Market

The food & beverages industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shuttering of various banks, manufacturing plants, and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa had further ill effects on supply chains, manufacturing, delivery schedules, and sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. Thus, suspended operations in various industries negatively impacted the snack pellets market growth. However, during pandemic, health consciousness among consumers across the globe increased significantly, subsequently the demand for organic, multi-grain products increased.

In 2021, various economies resumed their operations as different country governments announced relaxations in the previously imposed restrictions, which, in turn, bolstered the snack pellets market. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps. All these factors have been favoring the growth of the snack pellets market in the post-pandemic recovery period.

The report includes the segmentation of the snack pellets market as follows:

Based on source, the snack pellets market is divided into potato, corn, rice, tapioca, multigrain, and others. Based on type, the market is bifurcated into flavored and plain. On the basis of form, the snack pellets market is segmented into laminated, die face, tri dimensional, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The snack pellets market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The snack pellets market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The snack pellets market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

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