Rising consciousness among consumers towards different snacking options is expected to propel growth of the global extruded snacks market, says Fortune Business Insights in a report, titled “Extruded Snacks Market Size, Share and Industry Analysis, By Product Type (Potato, Rice, Corn, Tapioca, Mixed Grain, Others) By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Retail Stores, Online Stores, Others) and Regional Forecast, 2019-2026.” Rapid urbanization is expected to contribute significantly to the global extruded snacks market.
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According to the report, the increasing demand for convenience food products across the world is expected to create new growth opportunities for the global extruded snacks market. Growing innovation in food processing technology will further enable the growth of the global extruded snacks market. In addition, the rising adoption of efficient marketing strategies by key players is expected to boost the global extruded snacks market revenue.
An all-encompassing study on the developments of the extruded snacks industry is incorporated in the report. The report provides an all-encompassing synopsis of the extruded snacks market and discusses in detail the recent market trends besides elaborating on the segmentation and industrial development impacting its growth trajectory.
Increasing Innovation by Key Players Will Aid Expansion
Increasing innovation by market players along with the introduction of regional flavors in various extruded snacks to attract consumers is expected to accelerate the global extruded snacks market growth.
Rapid urbanization, as well as increasing consumer consciousness towards different snacking options, is expected to stimulate growth of the global extruded snacks market. Furthermore, the availability of affordable extruded snacks in the market is predicted uplift the global extruded snacks market shares in the forthcoming year.
Launch of Novel Line of Baked Chickpea Puffs Will Support Growth
Biena Snacks announced the launch of a novel line of Baked Chickpea Puffs for customers seeking better-for-you snacks. In April 2019, the company launched three exotic flavors of its newly launched extruded snacks namely Vegan Ranch, Aged White Cheddar, and Blazin’ Hot. The launch of the novel line of Baked Chickpea Puffs is expected to aid growth of the global extruded snacks market.
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Moreover, PepsiCo India unveiled the launch of Cornmeal snack Cheetos-Ocean Safari, an extruded snack that includes three grains namely corn rice, and wheat flour in its composition. The launch of cornmeal snack Cheetos-Ocean Safari is expected to propel growth of the global extruded snacks market.
However, health concerns associated with over-consumption of extruded snacks along with growing competition from local players is expected to restrict the growth of the global extruded snacks market.
Growing Population Will Facilitate Growth In Asia Pacific
Asia Pacific is expected to dominate the global extruded snacks market during the forecast year owing to the availability of a variety of extruded snacks at affordable and budget-friendly prices. The growing population along with high consumer inclination towards exotic snack products is predicted to boost the global extruded snacks market revenue in Asia Pacific.
Furthermore, the launch of extruded snacks by small and large market players is expected to further aid the growth in the region. The extruded snacks market is expected to grow significantly in North America and Europe during the forecast period owing to the escalating demand for healthy snacking options and increasing innovation by market players.
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