(Entertainment-NewsWire.com, September 07, 2017 ) Asia Pacific Extruded Snacks Market was worth USD 9.84 billion in 2016 and estimated to be growing at a CAGR of 4.6%, to reach USD 12.32 billion by 2021. The market is showcasing evident potential in the mentioned forecasting period. Extruded snack foods are made by the extrusion of various ingredients such as corn, tapioca, oats, potatoes, wheat, etc. Some of the most prevalent extruded snack foods include breakfast cereals, onion rings, pasta, jelly beans, macaroni, processed cheese, breads, etc. The extrusion process gives the freedom of choosing the ingredients and how one wants to process them.
The food industry is a huge industry with various segments and sub-segment markets. Being based directly off agriculture, the foods industry caters to various demographics. With a vast scope of opportunities from fast food to food safety, the food industry will continue to grow with such a momentum for the foreseeable future.
Despite reaching maturity levels in the developed markets, the demand for extruded snack foods is expected to increase in the emerging markets over the forecast period driven by a number of growth inducing factors. As a result of the rising urbanisation, a vast majority of population lives a fast-paced lifestyle. The long working hours make it difficult for individuals to have proper meals. As a result, they resort to ready-to-eat food including many extruded snacks. Widespread availability of different snacking options is made available at pocket friendly prices in the Asia-Pacific region. Furthermore, consumers in this region are product cost conscious and competitive prices offered from prime companies ultimately boosts product demand in this region.
One major factor which could be restraining the growth of the market is people’s rising consciousness towards their health and lifestyle. These food products are loaded with carbohydrates and fats. Most of them use white refined flour which contains a lot of fat. Majority of them are fried in oil again making them unfit for consumption.
Market Segmentation
• Type o Potato o Corn o Rice o Tapioca o Mixed Grains o Others o Y-o-Y Growth Analysis, By Type o Market Attractiveness Analysis, By Type
• Distribution channel o Hypermarkets o Independent retailers o Convenience stores o Market Attractiveness Analysis, By Distribution channel o Market Share Analysis, By Distribution channel
Geographically, the Asia-Pacific report is analysed under various regions like- China, India, Japan, Australia and South Korea. The Indian market is projected to grow at a CAGR of 12% making it the fastest growing market. Some of the major companies dominating the market, by their products and services are Nestle Australia, Otsuka Holdings, , Kellogg’s, ITC, Old Dutch Foods, Frito-lay and Amica Chips, Mondelez International, JFC International, Aperitivos Flaper, Bag Snacks, Universal Robina and Arca Continental, Keystone Foods
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