DUBAI, UAE / ACCESSWIRE / April 30, 2020 / The global snack pellets market is on a positive growth trajectory and is poised to witness a promising CAGR of 5.5% during the forecast period (2020-2029), according to a market study by Future Market Insights (FMI).
However, the market is likely to face an adversary in the form of COVID-19. With North America - the leading regional market - being severely affected by the outbreak, the market is likely to witness a decline in consumer demand. The numerous regulatory measures in place are hindering operations and disrupting supply chains. This can negatively impact market growth in the immediate future.
"Factors predominantly fueling the growth are the rising demand for processed foods, increasing trend of healthy snacking and the growing preference for fat-free and enhanced flavor snacks," says the FMI study.
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Gelatinized pellets segment is expected to capture a majority of market share on the back of their uniformity and thickness, which keeps them consistent during frying or toasting.
Tridimensional pellets segment is forecasted to grow at a higher CAGR as compared to gelatinized pallets during the forecast period.
Potato snack pellets segment also holds a respectable share in the global snacks pellets market owing to high consumer demand in the North American region.
Single-screw extruder technique will remain the most sought-out technique among end-users during the forecast period.
North America is anticipated to persist dominance as the leading regional market for snack pallets, backed by the ample supply of raw materials and the significant presence of a powerful food processing industry.
Europe is bestowing substantial revenue opportunities to players in the snack pellets market, and is expected to capture more than 1/3rs of the overall market share.
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Types covered: Potato-based snack pellets, rice-based snack pellets, corn-based snack pellets, multigrain snack pellets and tapioca-based snack pellets
Forms covered: Fie-face, tridimensional, laminated and gelatinized.
Regions covered: North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
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SOURCE: Future Market Insights