Vantage Market Research
Dec 04, 2021
Demand for Processed Food Product to Upsurge:
In the food industry, the Food Extrusion Market has been emerging in accordance with the processed food industry. The influence of busy lifestyles in emerging economies has motivated the growth of the processed food market; therefore, there is an upsurge in demand for extruded product types. In the midst of the COVID-19 emergency, the Global Food Extrusion Market is valued at USD 68.32 Billion for the year 2020 and further estimated to touch a revised size of USD 18.63 Billion for the year 2028, expanding at a CAGR of 7.1% over the inspection period of 2021-2028.
Flours and Starches, one of the sub-segments examined in the report, is anticipated to grow at a significant CAGR of 7.5% in the forecast period and is expected to dominate the segment. This is followed by the Savoury snacks sub-segment. Changing trends have moderately reduced the tradition of a three-course meal a day. Thus, food services provide an opportunity for the key players to increase their production and promote their product brands among buyers and drive sales in the retail channel.
In the year 2020, Italy is estimated to have the highest CAGR for the food extrusion market for the European region.
The Market Size for the Year 2028:
Our report on Food Extrusion Market has covered the study of the latest developments and investments in Food Extrusion. The market drivers, restraints, and opportunities have been provided for the forecast period, which drives from 2021 to 2028 with 2020 as the base year. The Global Food Extrusion Market is valued at USD 68.32 Billion in 2020 and is expected to reach USD 118.63 Billion in 2028.
Some of the key players in the food extrusion market are Bühler, Akron Tool & Die, Baker Perkins, Coperion, GEA, KAHL Group, Triott Group, Flexicon, Groupe Legris Industries, The Bonnot Company, American Extrusion International, Shandong Light M&E Co., Ltd, Snack, Doering systems, inc., PacMoore, Egan Food Technologies, Schaaf Technologie GmbH, Wenger Manufacturing, Inc., Brabender GmbH & Co. KG, Jinan Darin Machinery Co., Ltd., among others.
Owing to the expanding consumer base in food technologies, Europe dominated the Food Extrusion Market in 2020; Italy is projected to be dominating in Europe. However, the countries such as India and China in the Asia Pacific are expected to grow at the fastest CAGR of 7.8% over the forecast period of 2021-2028.