The Global Expanded Market has witnessed significant growth in recent years, with a size of USD 54.7 billion in 2022. Looking ahead, it is projected to reach USD 81.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period. Several key factors contribute to this growth trajectory.
One of the primary drivers of the Expanded market is the increasing consumer demand for ready-to-eat snacks. As people's lifestyles become more fast-paced and hectic, there is a growing preference for convenient food options that can be easily consumed on the go. Expanded, such as chips and puffs, fulfill this need by offering a quick and hassle-free snacking experience.
Moreover, the rising popularity of healthy snacks is fueling the demand for Expanded. Consumers are becoming more health-conscious and are actively seeking snack options that align with their dietary preferences. Many Expanded now come in healthier variants, offering low-fat, low-sodium, and whole-grain options. This trend is particularly appealing to individuals who desire both taste and nutrition in their snacks.
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Top Leading Players in Expanded Market:
- PepsiCo Inc.
- General Mills Inc.
- Kellogg Company
- Conagra Brands Inc.
- Nestlé S.A.
- Mondelez International Inc.
- The Hershey Company
- Blue Diamond Growers Inc.
- Old Dutch Foods Inc.
- Diamond Foods Inc.
- JFC International Inc.
Various Factors Expanded Market:
- Changing Consumer Tastes and Preferences: The evolving tastes and preferences of consumers play a crucial role in shaping the Expanded market. As urbanization continues and disposable incomes rise, consumer demands for convenient, ready-to-eat snacks have increased. Manufacturers have responded by offering a wide variety of flavors, textures, and shapes to cater to diverse consumer preferences.
- Convenience and On-the-Go Lifestyles: With busy schedules and hectic lifestyles becoming the norm, consumers are seeking convenient food options that can be easily consumed on-the-go. Expanded, such as chips, puffs, and sticks, fit perfectly into this trend, offering portable and ready-to-eat snacks that require no preparation.
- Health and Wellness Consciousness: The growing emphasis on health and wellness has also impacted the Expanded market. Consumers are increasingly seeking healthier snack alternatives that provide both taste and nutritional value. Manufacturers have responded by introducing healthier versions of Expanded, such as baked or multigrain options, low-fat varieties, and snacks made with natural ingredients.
- Longer Shelf Life and Convenience: The extrusion process used in the production of Expanded contributes to their longer shelf life. This characteristic is highly desirable for both consumers and retailers, as it allows for extended storage periods and reduces the risk of product spoilage. The longer shelf life makes Expanded an attractive choice for stocking in stores and purchasing in bulk.
- Availability and Retail Channels: The accessibility of Expanded through various retail channels has played a significant role in driving market growth. These snacks are readily available in supermarkets, hypermarkets, convenience stores, and online platforms. The wide distribution network ensures that consumers can easily find and purchase their favorite Expanded, further contributing to their popularity.
Expanded Market Segmentation:
By Type Outlook-
- Expanded
- Expanded
- Co-extruded
By Raw Material Outlook-
- Wheat
- Potato
- Corn
- Rice
- Multigrain
- Oats
- Other Raw Materials ( meat, peas, fruits, pulses)
By Method of Manufacturing Outlook-
- Single-screw extruder
- Twin-screw Extruder
- By Distribution Channel Outlook-Convenience Stores
- Hypermarkets & Supermarkets
- E-commerce Platforms
- Other Distribution Channels (Non grocery, mixed retailers, etc)
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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