Food Extrusion Market Size Augmented Due to Consumer’s Preference towards Convenient Foods Including Savory Snacks

The rapid urbanization coupled with the changing lifestyle of working population has given rise to a consistent demand for processed food, which is significantly disrupting the global food and beverages (F&B) industry. The food extrusion market is much benefited by this contemporary region of the F&B industry, because food extruders are a commonplace in making processed food. Furthermore, the growing trend of healthy snacking for weight loss which is making consumers resort to breakfast cereals such as oats and cornflakes is also contributing to the growth of the food extrusion market size that was evaluated at $53.7 billion in 2018. Another significant factor creating the food extrusion market revenue sources is the growth of ready-to-eat foods, especially in urban areas due to lack of time for cooking. Ready-to-eat foods such as savory snacks are made by extruder machine. Aluminum extrusion process and twin screw extruder are also used for food extrusion. Additionally, the trend of meat substitutes that has given rise to the growth of the extruded protein consumption is increasing the food extrusion market size. The dynamics of the food extrusion market in terms of requirement from the end-use segments are evident with the diversification products by the players. For instance, Coperian GmbH, a prominent player in the food extrusion market added a new laboratory extruder in STS series in April 2019. This extrusion machine is specifically designed for R&D tasks, which evinces the on-going research on food extrusion. Owing to growing requirement from various segments of the F&B industry such as savory snacks, breakfast cereals, bread, textured proteins, and others, the food extrusion market will grow at a CAGR of 4.23%, during the forecast period 2019-2025. Europe Food Extrusion Market Growth and Opportunities for the Vendors: Europe is the most lucrative region with the maximum food extrusion market share of 42% in 2018. This is attributable to the fact that the region has an abundance of arable land for cereal cultivation. The cereal production creates a subsequent requirement for extrusion in the region. Furthermore, there is also a palpable proliferation of the ready-to-eat food trend across European countries such as the UK, France, Germany, and Italy, which is also driving the food extrusion market growth in the region. Here are some factors that are contributing to the food extrusion market growth in Europe: · Growth in the Sales of Savory Snacks in Europe– There is a perceptible shift in consumer’s preference when it comes to snacking. These days, the trend of healthy snacking is booming which has boosted the growth of the savory snacks market in Europe. With abundance of ingredients such as ancient grains or sustainable proteins such as soy, Europe is witnessing growth in the savory snacks market. Savory snacks utilize food extruder machines, and henceforth, rise in sales of savory snakes is supporting the food extrusion market growth for Europe. ·Cultivation of Cereal across European Countries– According to the World Bank, Europe has 24.9% of arable land, which enables the cultivation of cereals which are amongst the predominant end-use segments of the food extruding machine.

• Increase in Bread Consumption in Europe–

Bread is bought by 99.8% of British households, which equates nearly 11 million loaves sold each day. Furthermore, as per the government’s National Diet and Nutrition Survey, median bread consumption per person is approximately evaluated at 90 grams/day. This makes up for a lucrative bread market in the U.K. Similarly, the residents of countries such as France, Belgium, Spain, Germany, and Denmark substantially rely on bread, when it comes to food. Extruder machines are used to make breads of different shapes, hence a mature bread market of Europe creates opportunities for the food extrusion market players in the region. Food Extrusion Market– Global Scenario and Growth Drivers:

• Key Application in the Food Extrusion Market: Savory Snacks –

Savory snacks is a key application in the food extrusion market, and it is projected to grow at a CAGR of 2.8% through to 2025. This is attributable to the global growth of the savory snacks market, and extruded snacks and nuts & seeds are important segments of the same. The growth of the extruded snacks market is evident with the trade value in the parent industry that includes snacks such as pasta and others. According to the International Trade Centre (ITC), the trade of pasta and other extruded snacks were evaluated as $9.58 billion in 2018, and the trade had witnessed a year on year growth of 4%. The upcoming years foresee further growth in the trade value, owing to expansion of the savory snacks market, owing to rise in demand for convenient food products. This will be making a positive impact on the food extrusion market.

• Growth in Demand for Textured Protein–

With a substantial population resorting to veganism or vegetarianism, the demand for textured food products have increased. The F&B industry leaders are coming up with textured protein in order to entice vegetarian consumers. The growth of the textured food market is tangible in the increasing meat substitute market size, which was evaluated as $4.5 billion-$4.8 billion in 2018. Furthermore, the market will grow between a CAGR of 6.1%-6.6% through to 2025. This rise in the meat substitute market value will translate to the growth in the trend of textured protein, and these products are prepared using food extruders. Henceforth, the increase in the demand for textured protein will expand the food extrusion market scope.

• Global Bread Market Creating Food Extrusion Market Revenue Sources –

Bread is predominantly consumed in breakfast by people across the world, and the food product has gained prominence in the developing countries of APAC such as India and China too. This can be further fathomed by the APAC bakery market, which is growing due to rise in disposable income and a growth of convenience food. This has translated to an increasing demand for bread– a significant segment of the bakery market. Another factor driving the bread segment of the bakery market in APAC is the growing consumption of food products such as sandwich that offer high nutrition value. In addition to APAC, North America and South American population significant relies on bread for nutrition. The consistent consumption of bread worldwide creates a sustainable food extrusion marketplace. Food Extrusion Market Companies: The prominent food extrusion market companies that are expanding geographically in order to capitalize on the growing demand are Coperion GmbH, Baker Perkins Limited, Groupe Legris Industries, The Bühler Holding AG, Akron Tool & Die Co. Inc., Flexicon Corporation, Pavan SpA, The Bonnot Company, Triott Group B.V., and American Extrusion International.