Europe Extruded Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Raw Material (Roots and Tubers, Cereals and Grains, Pulses and Lentils, and Others), Category (Second Generation Snacks and Third Generation Snacks), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
The extruded snacks market in Europe is expected to grow from US$ 16.49 billion in 2022 to US$ 24.62 billion by 2028; it is estimated to grow at a CAGR of 6.9% from 2022 to 2028.
Growing popularity of ready-to-eat, convenience, and on-the-go snacking is one of the major factors propelling the growth of extruded snacks market. The need for on-the-go items that offer a quick feeling of fullness in a busy schedule is mostly driven by the growing number of people entering the formal workforce, which results in their stressed and chaotic lifestyles. In a busy workday, these handy portable packets provide you a little energy boost. Due to the ease and variety of product options that meet the demand for many eating times, the on-the-go snacking trend is becoming more and more popular among millennials. Additionally, cereal-based savory snacks are performing well in stores thanks to their tasty bites and healthy qualities. The rising demand for cereal-based snacks helps the market expand. Furthermore, the demand for snacking increased significantly during COVID-19 pandemic owing to increased preference for convenience food. Moreover, the demand for savory snacks in is increasing owing to rising popularity of savory snacks such as crisp, crisp snacks, popcorn nuts, and amongst others. Consumers are seeking snacks with favorable organoleptic properties which is further surging the demand for extruded snacks during the forecast period. Thus, increasing demand for convenience and ready-to-eat products is surging the demand for extruded snacks during the forecast period.
Europe Extruded Snacks Market Revenue and Forecast to 2028 (US$ Billion)
Europe Extruded Snacks Market Segmentation
The Europe extruded snacks market is segmented into raw material, category, distribution channel, and country. Based on raw material, the market has been segmented into roots and tubers, cereals and grains, pulses and lentils, and others. The cereals and grains segment would dominate the market in 2022. The roots and tubers segment is further categorized into potato, tapioca, and others. The cereals and grains segment is subsegmented into corn, wheat, and others. Based on category, the Europe extruded snacks market has been divided into second generation snacks and third generation snacks . The second generation snacks segment would dominate the market in 2022. Based on distribution channel, the Europe extruded snacks market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others . The supermarkets and hypermarkets segment would dominate the market in 2022. Based on country, the Europe extruded snacks market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe would dominate the market in 2022.
Key players operating in the Europe extruded snacks market include AMICA CHIPS S.p.A.; Calbee; General Mills Inc.; Hain Celestial; Kellogg’s Company; Meiji Holdings Co. Ltd.; and PepsiCo, Inc.
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