North America Extruded Snacks Market Sales, Trends, Region Forecast and Manufacturers in 2023-2028
The extruded snacks market in North America is expected to
grow from US$ 13.13 billion in 2022 to US$ 18.91 billion by 2028; it is
estimated to grow at a CAGR of 6.3% from 2022 to 2028.
The rapid emergence of the retail chain is one of the driving
factors for extruded snacks market. Retail chains are key contributors to
increasing awareness about extruded snacks among consumers. The strong presence
of retail chains across the region is contributing to the growth of the market.
Penetration of retail chains is increasing across the region. According to the
National Retail Federation, in 2021, the total number of retail stores
established across the US increased and grew over 70% in the last three years
totaling approximately 3,950 stores across the US.
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Furthermore, expansion
plans of major retailers across rural and semi-urban areas across the region
are expected to increase consumer awareness and availability of extruded
products in the coming years, thereby driving the market. The increasing
foreign direct investment in various emerging countries is further posing a
growth opportunity for the extruded snacks market. Furthermore, some retailers
are introducing their private label products in order to cater to the rising
consumer demand for extruded snacks market. Thus, the increasing penetration of
the retail chain is driving the extruded snacks market.
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Calbee
General Mills Inc.
Hain Celestial
Kelloggโs Company
Meiji Holdings Co. Ltd.
Mikesellโs Snack Food Company
Old Dutch Foods, Inc.
Pepperidge Farm Incorporated
PepsiCo, Inc.
Regional variations in consumer
preferences and market dynamics are significant in the extruded snacks market.
For example, in North America and Europe, there is a strong demand for
healthier and more innovative snacks, while in developing markets like Asia-Pacific
and Latin America, affordability and accessibility are key factors. The
Asia-Pacific region, in particular, is experiencing rapid growth in the
extruded snacks market, driven by rising disposable incomes, urbanization, and
changing dietary habits.
Sustainability is becoming an
increasingly important consideration for both manufacturers and consumers in
the extruded snacks market. Concerns about the environmental impact of
packaging waste and resource depletion are driving the demand for more sustainable
packaging solutions, such as biodegradable and recyclable materials.
Manufacturers are also focusing on reducing their carbon footprint by
implementing more energy-efficient production processes and sourcing
ingredients from sustainable sources. Furthermore, the reduction of food waste
through efficient processing and packaging is gaining importance.
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