The snack pellets market, in terms of value, is estimated to account for about USD 2.0 billion in 2018 and projected to grow at a CAGR of 5.3% to reach about USD 2.5 billion by 2023. In terms of volume, it is projected to reach 1,840.3 KT by 2023, growing at a CAGR of 3.9% from 2018. The global snack pellets market in the food & beverage industry has been growing significantly in accordance with the processed food industry. The growing awareness about health and wellness has led to an increased demand for healthy food ingredients, thereby contributing to the demand for healthier and multigrain-based snack pellets products.
Key players that have a strong presence in the snack pellets market include Limagrain Céréales Ingrédients (France), Liven S.A. (Spain), Grupo Industrial Michel (Mexico), Leng d Or S.A. (Spain), and Pellsnack-Products GmbH (Germany).
Major players in the market are mainly focusing on undertaking expansions for innovating and developing research centers to meet the growing requirements of consumers.
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The core strength of the key players identified in this market is their growth strategies such as agreements. Undertaking agreements enables the market players to enhance their presence in the snack pellets market. Key players such as Limagrain Céréales Ingrédients (France) undertook this strategy to improve its distribution network, gain a stronger foothold, and enhance its market share. This company is also focusing on offering a diverse range of snack pellets that comply with government regulations and policies across regions. In addition, the company is also focusing on expanding its production capacity in Europe by acquiring a 100% share of Unicorn Grain Specialities (the Netherlands). Adoption of these strategies by these players is projected to increase their market share and expand their overall customer base.
Limagrain Céréales Ingrédients is a subsidiary of Groupe Limagrain Holdings S.A. (France) and offers a wide range of snack pellets, which are produced using different 3D and lamination technologies. The agricultural cooperative group of the company is specialized in vegetable seeds, field seeds, and cereal products. The company offers authentic and functional cereal ingredients for the manufacturers in industries such as bakery, snacks, breakfast cereals, culinary and dairy products, nutrition, baby food, and convenience foods. The company, to sustain its lead in the global market, is focusing on adopting growth strategies such as agreements. In May 2018, Limagrain Céréales Ingrédients entered into an agreement to acquire 100% shares of Unicorn Grain Specialties (the Netherlands) to strengthen its position as a global supplier of a variety of snack pellets in the food industry.
Leng d Or S.A. is one of the leading producers of snack pellets and extruded particulate ingredients—in different product shapes & formulations—made from potato, corn, wheat, rice, soy, and multigrain ingredients. The company has established its presence in 4 continents and provides a balanced range of products, such as raw pellets and extruded products. It offers a wide range of rice bran products, which are used in cereals, baked goods, fiber beverages, and supplements. It offers snack pellets in a variety of forms such as sticks, popcorn, dufitos, balls, and grills.
Snack Pellets Market by Type (Potato, Corn, Rice, Tapioca, Multigrain), Form (Laminated, Tridimensional, Die-face, Gelatinized), Technique (Twin-screw extruder, Single-screw extruder), Flavor (Plain, Flavored, Nutritional), and Region – Global Forecast to 2023
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