The increasing awareness about the health and intake of nutritional ingredients through ready to eat food is responsible for the research and development activities and penetration of new variety product in the snack market. The snack pellets market is one of the fastest-growing markets and has witnessed the strong growth trend over the last decade.
Increasing demand of the ready to eat snacks due to busier lifestyle among the consumers with the improved taste, ingredients, flavor is the leading driver of the global snack pellets market. The global market for the snack pellets is growing rapidly due to the great diversity of products in terms of shapes, textures, colors and flavors. The snack pellets own properties such as long shelf life, high-density features as well as simplifying storage process, leads to the growth of the global snack pellets market. The increasing health awareness and consumption of the nutrients, minerals, proteins, energy, saturated fats and salts through snacks have also enhanced the demand for the snack pellets.
However, the prices of the raw material used to manufacture the snack pellets are high in the developing and non-developed countries which may hamper the growth of the global snack pellets market.
In terms of geography, the global snack pellets market has been divided into five key regions, including North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). Europe has contributed the leading share to the global snack pellets market due to the rapidly growing demand for snack pellets as the substitute for the processed food. Asia Pacific region has also contributed the significant shares to the global snack pellets market due to increasing trend and demand for the snack pellets from the countries such as India, China. North America is also growing at a decent growth and expected to register the healthy CAGR over the forecast period. Latin America and MEA regions are at a nascent stage and anticipated to register the moderate growth over the forecast period.
Some of the key players of the global snack pellets market are Akkel Group, Dalmaza Food Industries Company, Intersnack Group GmbH & Co. KG, Pasta Foods Ltd., Leng-dOr S.A., LIVEN S.A., Classic Foods Inc., Limagrain Cereales Ingredients, Grupo Industrial Michel, J.R. Short Milling Company, Quality Pellets A/S and Balance Foods, Inc. Various global companies are contributed the descent growth.
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