Food Extrusion Market size is forecast to reach $ 66.3 billion by 2025, growing at a CAGR of 4.23% during the forecast period 2020-2025. Rising adoption of nutritional eatables intake including extruded snacks and growing demand for textured protein are the major factors driving the growth of the market. Rapid growth of the processed food industry in the developing countries and increasing consumption of convenience food products is set to further enhance the overall market demand of food extrusion market during the forecast period 2020-2025.
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Food Products- Segment Analysis
The savory snacks segment held the largest share in the food extrusion market in 2019 and is estimated to grow at a CAGR of 2.8% during the forecast period 2020-2025. The growth in this segment is owing to the easy availability of raw materials and high functional properties. Development in the production technology is also estimated to boost the food extrusion market by increasing the possibility of new shapes and sizes and textures using various raw materials. Extrusion technology gave a phenomenal boost to the food extrusion market. Savory snacks is estimated to be the fastest growing segment and is set to register a highest CAGR during the forecast period 2020-2025.
Extruder – Segment Analysis
Twin Screw extruder held the major share in the food extrusion market in 2019. This is owing to the advantages that it provides such as low cost of production, better control of process parameters, ease of functionality, remarkable mixing technology and high level of process flexibility. Single screw extruders have the second largest share in the global food extrusion industry. Many extruders to date are designed as single-screw, where this screw helps to give the necessary shape to the goods.
Geography – Segment Analysis
Europe dominated the food extrusion market in 2019 with a share of more than 42%, followed by North America. Europe dominates the food extrusion market owing to the rising consumer base and growth in food technologies and also owing to the stringent food safety regulations. Savory snacks utilize food extruder machines, and henceforth, rise in sales of savory snacks is supporting the food extrusion market growth for Europe. The cereal production and increase in bread consumption is also increasing the growth of food extrusion market in the Europe.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025. This is owing to the shift in the consumer preference Inсrеаѕіng glоbаlіzаtіоn, rіѕіng рrеfеrеnсе fоr fаѕt fооd оr rеаdу-tо-еаt fооd рrоduсtѕ, growing реr саріtа іnсоmе and ѕреndіng сарасіtу аmоng іndіvіduаlѕ іn соuntrіеѕ along with the rіѕіng рrеfеrеnсе fоr ехtrudеd ѕnасkѕ оf dіffеrеnt ѕіzе аnd ѕhареѕ, еѕресіаllу bу уоungеr рорulаtіоn аnd tоddlеrѕ іѕ ехресtеd tо drіvе dеmаnd fоr fооd ехtruѕіоn in this region.
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Drivers – Food Extrusion Market
With the increasing sustainable population resorting to veganism, the demand for textured protein is increasing. The textured protein are increasing owing to the entice vegetarian consumers. Meat substitute market size is also increasing owing to the growth of the textured protein and these products are prepared using food extruders. The textured proteins are more reactive and can undergo many changes during the extrusion process of which the most important being denaturation. The increase in the textured protein is estimated to increase the food extrusion market.
Reduction in the production cost along with the changing consumer lifestyles is increasing the growth of the food extrusion market. With the increasing lifestyles and increasing disposable incomes of the population, it has led to an enhanced demand for ready to eat food eatables as they help to save time and efforts. Food extrusion market has benefits in the form of bringing down the microorganisms in food and removing natural toxins and it makes the food safer for consumption. With the changing consumer lifestyles, there is a rapid increase in the industrialization and globalization has increased the growth of the food extrusion market.
Challenges – Food Extrusion Market
Some of the factors which can impede the growth of the food extrusion market are the global climatic conditions which is set to affect the production of the raw material. This in turn would led to the increasing prices of raw materials which would be a concern extruded food manufacturers.
In September 2018, РерѕіСо, Іnс. аnnоunсеd lаunсh оf brаndеd ехtrudеd ѕnасkѕ аnd роtаtо сhірѕ, іn оrdеr tо саtеr tо rіѕіng dеmаnd fоr hеаlthу ѕnасkѕ аmоng hеаlth-соnѕсіоuѕ соnѕumеrѕ.
Іn May 2018, Ѕnуdеr’ѕ Ваkеrу асquіrеd UЅ-bаѕеd G&Ѕ Fооdѕ/Таѕtуѕnасk Quаlіtу Fооdѕ, Іnс, іn оrdеr tо ехраnd іtѕ ехtrudеd аnd еnrоbеd рrоduсt оffеrіngѕ.
Food Extrusion Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the food extrusion market. In 2019, Food Extrusion Market share is consolidated by the top ten players present in the market. Food Extrusion Market top 10 companies are Coperion GmbH, Baker Perkins Limited, Groupe Legris Industries, The Bühler Holding AG, Akron Tool & Die Co. Inc., Flexicon Corporation, Pavan SpA, The Bonnot Company, Triott Group B.V., and American Extrusion International among others.
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