The Extruded Products Market is there to witness a stupendous form of growth in the near future. The food vertical is likely to witness the influx of ghost kitchens. Herein, the operators do establish aa menu and brand and go on to promote openings on the social media. Kitchen facilities get rented out for preparing the meals and also register with well-known delivery apps in anticipation of getting orders.
Advancements in extrusion technologies have led to an increment in the use of extruded products in various food applications. Furthermore, food manufacturers are using these technologies to produce different types of products. These innovative technologies, which include twin screw extrusion, cracking, and jellification, are useful to ensure retention of nutrients and reduce the fat content in extruded products. Extruded products market has witnessed substantial growth in the past few years, and this growth is expected to continue increasing throughout the forecast period of 2019-2029. Sales of extruded products will account for a market value of US$ 170 Bn by the end of 2019. Products such as swurves, chip’ins, and slim chips (circular popcorn chips), are some of the notable examples of products which are popular among consumers. Consumers want every food product to fulfil their nutritive requirements, while adhering to dietary restrictions.
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- Extruded products including breakfast cereals, snacks, noodles, and pasta will witness strong consumption rates in future. According to the FAO (Food and Agriculture Organization), the global cereal production is estimated to expand by 12% by the end of 2025. This is anticipated to boost profit margins of the manufacturers of extruded products.
- Organic extruded products are projected to gain traction during the forecast period of 2019-2029. The thriving trend of ‘go organic’ is also positively impacting the consumption of extruded products. European Union alone has witnessed 47.7% increment in the retail sales of organic food products between 2012 and 2016.
- Grain-based extruded products are projected to create lucrative opportunities for the extruded products market owing to their as high protein and fiber content.
- Developing regional markets are projected to show substantial growth rates in the extruded products market, particularly in case of breakfast cereals, pastas, frozen food, and confectionery.
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Players in extruded products market are adapting their market strategies as per the current trends in the market. Leading manufacturers are using strategies including acquisitions, segment specific investments, and enhancing production capacities of their units. Additionally, these companies are also focusing on investments in research and development facilities to further provide tailored solutions for the various extruded products.
- For instance, in 2018, Calbee U.K., one of the prominent snack company in world, has acquired Seabrook Crisps, one of the U.K.-based extruded products such as potato crisp manufacturer. This acquisition has given a platform for Calbee Inc. to expand its product portfolio in the European market.
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