Global Extruded Snack Market to Reach $57B by 2022

A new forecast by market research firm IMARC Group posits that the global market for extruded snacks – including pasta, processed cheese, and breakfast cereals – will reach a value of $57 billion by 2022, growing at a compound annual growth rate (CAGR) of 2.3% from its 2016 value of $50 billion.

“In today’s fast-paced lifestyle and long working hours, extruded snack foods offer consumers a substitute to the tedious cooking methods and do not involve complicated cooking procedures,” a press release announcing the firm’s findings said. “This represents the primary driving factor for the market.”

The introduction of new varieties, shapes and flavors of extruded snack foods are offering consumers, especially younger demographics, more appealing options to meet their needs. IMARC researchers said that extruded snacks like cereal crisps and energy and nutrition bars have helped the segment appeal to a wide array of people.

Europe is the world’s largest market for extruded snacks, followed by the United States and the Asia-Pacific region, according to researchers. Nestle, Kellogg’s, Diamond, General Mills, PepsiCo, and Kraft Heinz were identified as key players in the forecast period.

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