Middle East and North Africa Extruded Snack Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Extrusion cooking is one of the most popular processes to prepare snacks and ready-to-eat foods by using a variety of ingredients such as corn, tapioca, oats, potatoes, wheat, etc. After extrusion, these snacks are processed and converted into semi-cooked or pre-cooked food products. This helps in the elimination of toxins and micro-organisms produced naturally while making these snacks healthier as well as safer for consumption. In recent years, extruded snack foods have witnessed strong growth in the MENA region. According to the latest report by IMARC Group, titled “Middle East and North Africa Extruded Snack Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the MENA extruded snack food market reached a value of US$ 1,987 Million in 2017.
In the MENA region, rapid industrialization and urbanization have resulted in a significant shift towards western food cultures. This remains one of the primary forces catalyzing the growth of the market. In addition, the region represents one of the fastest growing populations across the globe. This coupled by low median age groups and rising disposable incomes have positively influenced the growth of this market. Looking forward, the market value is projected to reach US$ 2,555 Million by 2023, expanding at a CAGR of more than 4% during 2018-2023.
On the basis of raw material, the market has been segmented into potato, corn, rice, tapioca and mixed grains. Amongst these, potato represents the biggest segment.
Based on the distribution channel, the market has been segregated into supermarkets/hypermarkets, convenience stores, specialty food stores and online retail. Currently, supermarkets and hypermarkets dominate this market.
Country-wise, Saudi Arabia represents the largest market, holding the majority of the MENA extruded snack food market share. Saudi Arabia is followed by UAE, Egypt, Iran and Israel.
This report provides a deep insight into the MENA extruded snack food market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the MENA extruded snack food market in any manner.
Key Questions Answered in This Report:
How has the MENA extruded snack food market performed so far and how will it perform in the coming years?
What are the key regions in the MENA extruded snack food market?
Which are the popular raw materials in the MENA extruded snack food market?
What are the major distribution channels in the MENA extruded snack food market?
What are the price trends of extruded snack foods?
What are the various stages in the value chain of the MENA extruded snack food market?
What are the key driving factors and challenges in the MENA extruded snack food market?
What is the structure of the MENA extruded snack food market and who are the key players?
What is the degree of competition in the MENA extruded snack food market?