The extruded snacks market is expected to increase to $31 billion by 2019 says a report by MarketsandMarkets, a global market research and consulting company based in the United States.
Dubbed "Extruded Snacks Market by Type (Potato, Corn, Rice, Tapioca, Mixed Grain and Others) & by Geography — Global Trends and Forecasts to 2019," the new report defines the extruded snack market and segments it into different types by ingredient and geography. It also provides readers with analyses and projections of the market size for each of these segments.
In 2013, the potato-based extruded snacks segment was the largest, followed by corn. The mixed grain-based products are estimated to grow at the fastest CAGR from 2014 to 2019. Many of the key players in this segment have invested in new product developments to meet the consumer demand and maintain a competitive edge in the market.
The report finds that these key players prefer new product launches and expansions as strategies to garner a larger share in the market. In addition, these companies have also entered into agreements and collaborations to market new products.
The report provides a complete analysis of key companies and a chronology of developments with respect to new products/technologies and their applications. It also analyzes the market dynamics, winning imperatives, and issues faced by leading players.
The report shows that the market is driven by the consumption habits of the consumers, marketing strategies of the companies and attractive packaging, pricing strategy, and the developing economies.
In 2013, Asia-Pacific was the largest extruded snacks market and is estimated to grow at the highest CAGR from 2014 to 2019.
The Indian market for extruded snacks is projected to grow at the highest CAGR of more than 12 percent from 2014 to 2019. The Latin American market is estimated to be the second fastest growing market.
The full report includes the marketing and development strategies, along with the product portfolio of leading companies. The company profiles include: Frito-Lay North America, Inc. (U.S.), Calbee, Inc. (Japan), and Grupo Bimbo, S.A.B. De C. V. (Mexico).
It also identifies the driving and restraining factors for the extruded snacks market with an analysis of the trends, opportunities, burning issues, and winning imperatives.
For more information, visit www.marketsandmarketsblog.com/market-reports/food-and-beverage.