Extruded products are those products which pass through process of extrusion in which the food products are pushed through specific die which has some given shape. These products are mostly used in food industry to offer the products in form of different size and shape. Extruded food products have application in different products such as breakfast cereals, snacks, food ingredients, pet food etc. Generally extruded food products are rich in starch and used in food and feed products. In present scenario, demand of extrusion food at global level has increased due to change in preference, lifestyle and trend of consumers.
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Market Dynamics of Extruded Products
Extruded product market is driven by increasing demand of extruded products from the side of youth and teenagers as they mainly attracted towards the foodstuffs which are different in color, texture, shape, flavor, aroma and size. In addition to this, companies are also offering the same kind of foodstuff and by specifically focusing on culture and lifestyle of consumers of particular country. From last one decade market of extruded products has significantly increased due to innovation in design, shape, texture and color of extruded products. Availability of extruded products in different style as per the advancement in technology of extrusion process has also become one of the major factor for its growing demand. One of the factor which restraint the demand of extruded products in market is that these products are not generally rich in terms of nutritional components such as vitamins, minerals etc. Due to which its demand may affect from the side of health conscious consumers, if companies does not focus on nutritional content.
Market Segmentation of Extruded Products
Segmentation of extruded products has been segmented on the basis of types, raw material and end-user. Extruded products market is segmented on the basis of types includes hot extrusion food processing and cold extrusion food processing. Extruded products market is segmented on the basis of raw material such as cereals, corn, mixed grains and others. Among these segments corn coves the major share on the pie. Vaious forms of grains are used in the preparation of extruded products such as flour, grits, defatted meals etc. Extruded products market is segmented on the basis of end-user and divided into two parts, food products and pet food products. Further the market segment of food products by application is segmented into sub-segmented into snacks, cereals, bakery products and also as ready to eat food. On analyzing the market share of extruded products at global level, it is assessed on pie chart that majority of proportion in terms of market share is occupied by extruded products in terms of application segment. On the other side as an ingredient, it is sub-segmented as a taste enhancer and additives. Results of chart in terms of sub-segment market, it depicts that food products acquires the majority of percentage in terms of market share.
Companies which deal in the business of extruded products are constantly meeting the ever changing demand and requirements of consumers regarding extruded products. In past few years, demand of these products has increased not only from one section but from different sections that is whether it’s from health conscious people, youth and teenagers and also from fast food sector. Increase in population and increase in per capita income in developing economies of world also has led to rise in demand of food products which have different aroma, taste, flavor, shape, color etc. Majority of demand of extruded products is from the side of food market. Snacks, snack pellets, bakery products such as breads, crumbs etc. have higher demand from youth and teenagers sections of the society. As this moment extruded products are easily available in different size, shape, design and color with enhance taste recipe, it attracts the consumers to purchase. On the other side, demand of extruded products is also increasing from health conscious consumers and this demand is also fulfilling by the companies by offering extruded products as breakfast cereals, rice with enriched vitamins and many other extruded snacks which are rich in nutritional components.
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Regional Outlook of Extruded Products:
On the basis of regions the extruded products are segmented on the basis of seven different regions of the world. These regional segment are North America, Latin America, Eastern Europe, Western Europe and Asia-Pacific region, Japan, Middle East and Africa. From American market, U.S. is one of the leading producer of extruded products in world.
Some of the major market players in extruded food market are Frito-Lay, The Real Deal Snacks, Bag Snacks, Michel, Calbee, Kelloggs, Nature’s Path, Ralston Foods, Intersnack Group and Lengdor. These companies operate their business at both global as well as regional level.