North America Extruded Snacks Market Forecast to 2028

North America Extruded Snacks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Raw Material (Roots and Tubers, Cereals and Grains, Pulses and Lentils, and Others), Category (Second Generation Snacks and Third Generation Snacks), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

Report Code : BMIRE00025877 | Region : North America | Industry : Food and Beverages | Published Date : 13/Sep/2022

The extruded snacks market in North America is expected to grow from US$ 13.13 billion in 2022 to US$ 18.91 billion by 2028; it is estimated to grow at a CAGR of 6.3% from 2022 to 2028.

The rapid emergence of the retail chain is one of the driving factors for extruded snacks market. Retail chains are key contributors to increasing awareness about extruded snacks among consumers. The strong presence of retail chains across the region is contributing to the growth of the market. Penetration of retail chains is increasing across the region. According to the National Retail Federation, in 2021, the total number of retail stores established across the US increased and grew over 70% in the last three years totaling approximately 3,950 stores across the US. Furthermore, expansion plans of major retailers across rural and semi-urban areas across the region are expected to increase consumer awareness and availability of extruded products in the coming years, thereby driving the market. The increasing foreign direct investment in various emerging countries is further posing a growth opportunity for the extruded snacks market. Furthermore, some retailers are introducing their private label products in order to cater to the rising consumer demand for extruded snacks market. Thus, the increasing penetration of the retail chain is driving the extruded snacks market.

North America Extruded Snacks Market Revenue and Forecast to 2028 (US$ Billion)

North America Extruded Snacks Market Segmentation

The North America 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 North America 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 North America 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 North America extruded snacks market is segmented into the US, Canada, and Mexico. The US would dominate the market in 2022.

The key players operating in the North America extruded snacks market include Calbee; General Mills Inc.; Hain Celestial; Kellogg’s Company; Meiji Holdings Co. Ltd.; Mikesell’s Snack Food Company; Old Dutch Foods, Inc.; Pepperidge Farm Incorporated; and PepsiCo, Inc.

At 6.3% CAGR, the North America Extruded Snacks Market is speculated to be worth US$ 18.91 billion by 2028, says The Insight Partners

According to The Insight Partners’ research, the North America extruded snacks market was valued at US$ 13.13 billion in 2022 and is expected to reach US$ 18.91 billion by 2028, registering an annual growth rate of 6.3% from 2022 to 2028. The growing demand for fortified extruded snacks and increased penetration of retail chains are the critical factors attributed to the market expansion.

The demand for fortified extruded snacks is increasing owing to changing consumer preferences towards healthy snacking option, rising awareness regarding healthy benefits, and rising number of health-conscious population. With growing demand for healthy food products has surged replacing traditional used corn starch, wheat starch, and other raw materials with healthy nutritional raw materials. Consumers are looking for the nutritional statements and are looking for free-from claims, such as grain-free, gluten-free, GMO-free, animal-free (vegan), and allergen-free. They also want added protein, fiber, and nutrients, and amongst others. Furthermore, increasing demand for healthy food products has surged manufacturers opting for healthy alternatives such as extruded snacks with protein boost. Manufacturers are engaged in developing new form of starch which are healthier as compared to traditional starch used for extruded snacks. Growing healthier snack trends has surged the use of tubers as a raw material for manufacturing of extruded snacks, which will help develop snacks with better nutritional characteristics, functional, and sensory. Thus, increasing demand for fortified extruded snacks is expected to pose a growth opportunity to the extruded snacks market.

On the contrary, technological and processing challenges and high initial investment hurdles the growth of North America extruded snacks market.

Based on raw material, the North America extruded snacks market has been segmented into roots and tubers, cereals and grains, pulses and lentils, and others. The cereals and grains segment held 54.7% market share in 2022, amassing US$ 7.18 billion. It is projected to garner US$ 10.41 billion by 2028 to expand at 6.4% CAGR during 2022–2028. Based on roots and tubers the market is further sub-segmented into potato, tapioca, and others. Based on cereals and grains the market is further sub-segmented into corn, wheat, and others.

Based on category, the North America extruded snacks market has been divided into second generation snacks and third generation snacks. The second generation snacks segment held 72.4% market share in 2022, amassing US$ 9.50 billion. It is projected to garner US$ 13.50 billion by 2028 to expand at 6.0% CAGR during 2022–2028.

Based on distribution channel, the North America extruded snacks market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. With 55.7% share of the domain, the supermarkets and hypermarkets segment dominated the market in 2022. It accrued US$ 7.31 billion in 2022 and is estimated to generate US$ 10.87 billion by 2028 to grow at a CAGR of 6.8% over the forecast period.

Based on country, the North America extruded snacks market is categorized into the US, Canada, and Mexico. Our regional analysis states that US captured 72.9% market share in 2022. It was assessed at US$ 9.57 billion in 2022 and is likely to hit US$ 14.10 billion by 2028, exhibiting a CAGR of 6.7% during the forecast period.

Key players dominating the North America extruded snacks market are Calbee; General Mills Inc.; Hain Celestial; Kellogg’s Company; Meiji Holdings Co. Ltd.; Mikesell’s Snack Food Company; Old Dutch Foods, Inc.; Pepperidge Farm Incorporated; 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. North America 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. North America Extruded Snacks Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing 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 – North America Analysis

6.1 North America Extruded Snacks Market Overview

6.2 North America Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

7. North America Extruded Snacks Market Analysis – By Raw Material

7.1 Overview

7.2 North America Extruded Snacks Market Breakdown, by Raw Material, 2021 & 2028

7.3 Roots and Tubers

7.3.1 Overview

7.3.2 Roots and Tubers: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.1 Potato: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.2 Tapioca: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.3 Others: North America 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: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.4.2.1 Corn: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.4.2.2 Wheat: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.4.2.3 Others: North America 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: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Others

7.6.1 Overview

7.6.2 Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

8. North America Extruded Snacks Market Analysis – By Category

8.1 Overview

8.2 North America Extruded Snacks Market Breakdown, by Category, 2021 & 2028

8.3 Second Generation Snacks

8.3.1 Overview

8.3.2 Second Generation Snacks: North America 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: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

9. North America Extruded Snacks Market Analysis – By Distribution Channel

9.1 Overview

9.2 North America Extruded Snacks Market Breakdown, by Distribution Channel, 2021 & 2028

9.3 Supermarkets and Hypermarkets

9.3.1 Overview

9.3.2 Supermarkets and Hypermarkets: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Convenience Stores

9.4.1 Overview

9.4.2 Convenience Stores: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Online Retail

9.5.1 Overview

9.5.2 Online Retail: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

10. North America Extruded Snacks Market– Country Analysis

10.1 Overview

10.1.1 North America: Extruded Snacks Market, by Key Country

10.1.1.1 US: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 US: Extruded Snacks Market, by Raw Material

10.1.1.1.1.1 US: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type

10.1.1.1.1.2 US: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type

10.1.1.1.2 US: Extruded Snacks Market, by Category

10.1.1.1.3 US: Extruded Snacks Market, by Distribution Channel

10.1.1.2 Canada: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 Canada: Extruded Snacks Market, by Raw Material

10.1.1.2.1.1 Canada: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type

10.1.1.2.1.2 Canada: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type

10.1.1.2.2 Canada: Extruded Snacks Market, by Category

10.1.1.2.3 Canada: Extruded Snacks Market, by Distribution Channel

10.1.1.3 Mexico: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 Mexico: Extruded Snacks Market, by Raw Material

10.1.1.3.1.1 Mexico: Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type

10.1.1.3.1.2 Mexico: Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type

10.1.1.3.2 Mexico: Extruded Snacks Market, by Category

10.1.1.3.3 Mexico: 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

12.3 Calbee

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 Pepperidge Farm Incorporated

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 Kellogg's Company

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 General Mills Inc.

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

12.7 Meiji Holdings Co., Ltd.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Hain Celestial

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Old Dutch Foods, Inc.

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Mikesell’s Snack Food Company

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1.             North America Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

Table 2.             US Extruded Snacks Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 3.             US Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             US Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)

Table 5.             US Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 6.             US Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Canada: Extruded Snacks Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Canada Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type – Revenue and Forecast to 2028 (US$ Million)

Table 9.             Canada Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Canada Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Canada Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Mexico Extruded Snacks Market, by Raw Material – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Mexico Roots and Tubers Extruded Snacks Market, by Roots and Tubers Type– Revenue and Forecast to 2028 (US$ Million)

Table 14.          Mexico Cereals and Grains Extruded Snacks Market, by Cereals and Grains Type– Revenue and Forecast to 2028 (US$ Million)

Table 15.          Mexico Extruded Snacks Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 16.          Mexico Extruded Snacks Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 17.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           North America Extruded Snacks Market Segmentation

Figure 2.           North America Extruded Snacks Market Segmentation – By Country

Figure 3.           North America Extruded Snacks Market Overview

Figure 4.           North America Extruded Snacks Market: By Distribution Channel

Figure 5.           North America Extruded Snacks Market: By Country

Figure 6.           Porter's Five Forces Analysis: North America Extruded Snacks Market

Figure 7.           Expert Opinion

Figure 8.           North America Extruded Snacks Market Impact Analysis of Drivers and Restraints

Figure 9.           North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10.        North America Extruded Snacks Market Breakdown, by Raw Material, 2021 & 2028

Figure 11.        Roots and Tubers: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.        Potato: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Tapioca: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Cereals and Grains: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Corn: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Wheat: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Pulses and Lentils: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        North America Extruded Snacks Market Breakdown, by Category, 2021 & 2028

Figure 22.        Second Generation Snacks: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Third Generation Snacks: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        North America Extruded Snacks Market Breakdown, by Distribution Channel, 2021 & 2028

Figure 25.        Supermarkets and Hypermarkets: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        Convenience Stores: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        Online Retail: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        Others: North America Extruded Snacks Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29.        North America: Extruded Snacks Market, by key Country – Revenue (2021) (US$ Million)

Figure 30.        North America: Extruded Snacks Market Revenue Share, by Key Country (2021 and 2028)

Figure 31.        US: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

Figure 32.        Canada: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Mexico: Extruded Snacks Market –Revenue and Forecast to 2028 (US$ Million)

The List of Companies - North America Extruded Snacks Market

● Calbee

● General Mills Inc.

● Hain Celestial

● Kellogg’s Company

● Meiji Holdings Co. Ltd.

● Mikesell’s Snack Food Company

● Old Dutch Foods, Inc.

● Pepperidge Farm Incorporated

● PepsiCo, Inc.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America Extruded Snacks Market.

● Highlights key business priorities in order to assist companies to realign their business strategies

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● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Extruded Snacks Market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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