The extruded snacks market in Asia Pacific is expected to grow from US$ 20.16 billion in 2022 to US$ 32.54 billion by 2028; it is estimated to grow at a CAGR of 8.3% from 2022 to 2028.
Snacking is becoming more popular with an increased demand for convenience food and ready-to-eat food products. The extruded snacks market is fragmented with the presence of a large number of international as well as domestic players. However, the major market of extruded snacks is being captured by a few players with a strong consumer base. Further, in order to retain customers, major players in the market are continuously involved in developing and innovating their product portfolio with new varieties of extruded snacks, such as products including regional flavors. They are also launching attractive products to capture a new customer base. For instance, in August 2021, Bikano one of the major snack producers acquired the license for India’s famous character “Chota Bheem” to launch their new range of extruded products. The launch was aimed to cater to the wider consumer base of kids and youngsters in the country. In May 2019, PepsiCo, Inc introduced the “papadam,” a South Indian flavored extruded snack, to its product portfolio. The launch was aimed to cater to the South Indian customer base. Therefore, the increasing development of new varieties of extruded snacks in order to cater to a new consumer base is a significant trend in the overall extruded snacks market.
Asia Pacific Extruded Snacks Market Revenue and Forecast to 2028 (US$ Billion)
Asia Pacific Extruded Snacks Market Segmentation
The Asia Pacific extruded snacks market is segmented into raw material, category, distribution channel, and country. Based on raw material, the market has been segmented into roots and tubers, cereals and grains, pulses and lentils, and others. The cereals and grains segment would dominate the market in 2022. The roots and tubers segment is further categorized into potato, tapioca, and others. The cereals and grains segment is subsegmented into corn, wheat, and others. Based on category, the Asia Pacific extruded snacks market has been divided into second generation snacks and third generation snacks . The second generation snacks segment would dominate the market in 2022. Based on distribution channel, the Asia Pacific extruded snacks market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others . The supermarkets and hypermarkets segment would dominate the market in 2022. Based on country, the Asia Pacific extruded snacks market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China would dominate the market in 2022.
Key players operating in the Asia Pacific extruded snacks market include Calbee; General Mills Inc.; Hain Celestial; Kellogg’s Company; Meiji Holdings Co. Ltd.; and PepsiCo, Inc.
At 8.3% CAGR, the Asia Pacific Extruded Snacks Market is speculated to be worth US$ 32.54 billion by 2028, says The Insight Partners
According to The Insight Partners’ research, the Asia Pacific extruded snacks market was valued at US$ 20.16 billion in 2022 and is expected to reach US$ 32.54 billion by 2028, registering an annual growth rate of 8.3% from 2022 to 2028. The growing demand for convenience and on-the-go products and rising development of new varieties of extruded snacks are the critical factors attributed to the market expansion.
Growing popularity of ready-to-eat, convenience, and on-the-go snacking is one of the major factors propelling the growth of extruded snacks market. The need for on-the-go items that offer a quick feeling of fullness in a busy schedule is mostly driven by the growing number of people entering the formal workforce, which results in their stressed and chaotic lifestyles. In a busy workday, these handy portable packets provide you a little energy boost. Due to the ease and variety of product options that meet the demand for many eating times, the on-the-go snacking trend is becoming more and more popular among millennials. Additionally, cereal-based savory snacks are performing well in stores thanks to their tasty bites and healthy qualities. The rising demand for cereal-based snacks helps the market expand. Furthermore, the demand for snacking increased significantly during COVID-19 pandemic owing to increased preference for convenience food. Moreover, the demand for savory snacks in is increasing owing to rising popularity of savory snacks such as crisp, crisp snacks, popcorn nuts, and amongst others. Consumers are seeking snacks with favorable organoleptic properties which is further surging the demand for extruded snacks during the forecast period. Thus, increasing demand for convenience and ready-to-eat products is surging the demand for extruded snacks during the forecast period.
On the contrary, technological and processing challenges and high initial investment hurdles the growth of Asia Pacific extruded snacks market.
Based on raw material, the Asia Pacific extruded snacks market has been segmented into roots and tubers, cereals and grains, pulses and lentils, and others. The cereals and grains segment held 55.6% market share in 2022, amassing US$ 11.21 billion . It is projected to garner US$ 18.19 billion by 2028 to expand at 8.4% CAGR during 2022–2028.
Based on category, the Asia Pacific extruded snacks market has been divided into second generation snacks and third generation snacks. The second generation snacks segment held 75.7% market share in 2022, amassing US$ 15.27 billion . It is projected to garner US$ 24.35 billion by 2028 to expand at 8.1% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific extruded snacks market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. With 52.0% share of the domain, the supermarkets and hypermarkets segment dominated the market in 2022. It accrued US$ 10.48 billion in 2022 and is estimated to generate US$ 17.48 billion by 2028 to grow at a CAGR of 8.9% over the forecast period.
Based on country, the Asia Pacific extruded snacks market is categorized into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. Our regional analysis states that China captured 29.3% market share in 2022. It was assessed at US$ 5.91 billion in 2022 and is likely to hit US$ 10.42 billion by 2028, exhibiting a CAGR of 9.9% during the forecast period.
Key players dominating the Asia Pacific extruded snacks market are Calbee; General Mills Inc.; Hain Celestial; Kellogg’s Company; Meiji Holdings Co. Ltd.; and PepsiCo, Inc among others.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. APAC Extruded Snacks Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Expert Opinion
5. APAC Extruded Snacks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Convenience and On-the-go Products
5.1.2 Increased Penetration of Retail Chains
5.2 Market Restraints
5.2.1 Technological and Processing Challenges and High Initial Investment
5.3 Market Opportunities
5.3.1 Growing Demand for Fortified Extruded Snacks
5.4 Future Trends
5.4.1 Rising Development of New Varieties of Extruded Snacks
5.5 Impact Analysis of Drivers and Restraints
6. Extruded Snacks Market – APAC Analysis
6.1 APAC Extruded Snacks Market Overview
6.2 APAC Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
7. APAC Extruded Snacks Market Analysis – By Raw Material
7.1 Overview
7.2 APAC Extruded Snacks Market Breakdown, by Raw Material, 2021 & 2028
7.3 Roots and Tubers
7.3.1 Overview
7.3.2 Roots and Tubers: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.3.2.1 Potato: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.3.2.2 Tapioca: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.3.2.3 Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Cereals and Grains
7.4.1 Overview
7.4.2 Cereals and Grains: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.4.2.1 Corn: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.4.2.2 Wheat: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.4.2.3 Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Pulses and Lentils
7.5.1 Overview
7.5.2 Pulses and Lentils: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Extruded Snacks Market Analysis – By Category
8.1 Overview
8.2 APAC Extruded Snacks Market Breakdown, by Category, 2021 & 2028
8.3 Second Generation Snacks
8.3.1 Overview
8.3.2 Second Generation Snacks: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Third Generation Snacks
8.4.1 Overview
8.4.2 Third Generation Snacks: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Extruded Snacks Market Analysis – By Distribution Channel
9.1 Overview
9.2 APAC Extruded Snacks Market Breakdown, by Distribution Channel, 2021 & 2028
9.3 Supermarkets and Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets and Hypermarkets: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Convenience Stores
9.4.1 Overview
9.4.2 Convenience Stores: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
10. APAC Extruded Snacks Market– Country Analysis
10.1 Overview
10.1.1 APAC: Extruded Snacks Market, by Key Country
10.1.1.1 Australia: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Extruded Snacks Market, By Raw Material
10.1.1.1.1.1 Australia: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.1.1.2 Australia: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type
10.1.1.1.2 Australia: Extruded Snacks Market, by Category
10.1.1.1.3 Australia: Extruded Snacks Market, by Distribution Channel
10.1.1.2 China: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Extruded Snacks Market, By Raw Material
10.1.1.2.1.1 China: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.2.1.2 China: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type
10.1.1.2.2 China: Extruded Snacks Market, by Category
10.1.1.2.3 China: Extruded Snacks Market, by Distribution Channel
10.1.1.3 India: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Extruded Snacks Market, by Raw Material
10.1.1.3.1.1 India: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.3.1.2 India: Cereals and Grains Extruded Snacks Market, by Raw Material Type
10.1.1.3.2 India: Extruded Snacks Market, by Category
10.1.1.3.3 India: Extruded Snacks Market, by Distribution Channel
10.1.1.4 Japan: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Extruded Snacks Market, By Raw Material
10.1.1.4.1.1 Japan: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.4.1.2 Japan: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type
10.1.1.4.2 Japan: Extruded Snacks Market, by Category
10.1.1.4.3 Japan: Extruded Snacks Market, by Distribution Channel
10.1.1.5 South Korea: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Extruded Snacks Market, By Raw Material
10.1.1.5.1.1 South Korea: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.5.1.2 South Korea: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type
10.1.1.5.2 South Korea: Extruded Snacks Market, by Category
10.1.1.5.3 South Korea: Extruded Snacks Market, by Distribution Channel
10.1.1.6 Rest of APAC: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Extruded Snacks Market, By Raw Material
10.1.1.6.1.1 Rest of APAC: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type
10.1.1.6.1.2 Rest of APAC: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type
10.1.1.6.2 Rest of APAC: Extruded Snacks Market, by Category
10.1.1.6.3 Rest of APAC: Extruded Snacks Market, by Distribution Channel
11. Industry Landscape
11.1 Overview
11.2 Business Planning and Strategy
11.3 Expansion & Collaboration
11.4 Product News
12. Company Profiles
12.1 PepsiCo, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Calbee
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Kellogg's Company
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 General Mills Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Meiji Holdings Co., Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Hain Celestial
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES.
Table 1. APAC Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Australia Extruded Snacks Market, By Raw Material– Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 6. Australia Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 7. China Extruded Snacks Market, By Raw Material – Revenue and Forecast to 2028 (US$ Million)
Table 8. China Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. China Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. China Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 11. China Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 12. India Extruded Snacks Market, By Raw Material – Revenue and Forecast to 2028 (US$ Million)
Table 13. India Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. India Cereals and Grains Extruded Snacks Market, by Raw Material Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. India Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 16. India Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 17. Japan Extruded Snacks Market, By Raw Material – Revenue and Forecast to 2028 (US$ Million)
Table 18. Japan Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Japan Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. Japan Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 21. Japan Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 22. South Korea Extruded Snacks Market, By Raw Material – Revenue and Forecast to 2028 (US$ Million)
Table 23. South Korea Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 24. South Korea Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. South Korea Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 26. South Korea Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 27. Rest of APAC Extruded Snacks Market, By Raw Material – Revenue and Forecast to 2028 (US$ Million)
Table 28. Rest of APAC Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)
Table 29. Rest of APAC Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of APAC Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of APAC Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 32. List of Abbreviation
LIST OF FIGURES.
Figure 1. APAC Extruded Snacks Market Segmentation
Figure 2. APAC Extruded Snacks Market Segmentation – By Country
Figure 3. APAC Extruded Snacks Market Overview
Figure 4. APAC Extruded Snacks Market: By Distribution Channel
Figure 5. APAC Extruded Snacks Market: By Country
Figure 6. Porter's Five Forces Analysis: APAC Extruded Snacks Market
Figure 7. Expert Opinion
Figure 8. APAC Extruded Snacks Market Impact Analysis of Drivers and Restraints
Figure 9. APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Extruded Snacks Market Breakdown, by Raw Material, 2021 & 2028
Figure 11. Roots and Tubers: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Potato: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Tapioca: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Cereals and Grains: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Corn: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Wheat: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Pulses and Lentils: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Extruded Snacks Market Breakdown, by Category, 2021 & 2028
Figure 22. Second Generation Snacks: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Third Generation Snacks: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC Extruded Snacks Market Breakdown, by Distribution Channel, 2021 & 2028
Figure 25. Supermarkets and Hypermarkets: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Convenience Stores: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Online Retail: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Others: APAC Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Asia Pacific: Extruded Snacks Market, by key Country – (2021) (US$ Million)
Figure 30. APAC: Extruded Snacks Market Revenue Share, by Key Country (2021 and 2028)
Figure 31. Australia: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. China: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. India: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34. Japan: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Figure 35. South Korea: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
Figure 36. Rest of APAC: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)
