The Business Research Company's Food Extrusion Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The food extrusion market has experienced significant growth in recent years. It is projected to increase from $85.1 billion in 2023 to $91.25 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. This historical growth can be linked to the rising demand for processed and convenience foods, the growing popularity of snack foods, cost-effective food production methods, the expansion of the pet food sector, and improvements in product shelf life.
What Is the Anticipated Growth Rate and Market Size of the Global Food Extrusion Market?
The food extrusion market is anticipated to continue its robust growth in the coming years, with projections estimating it will reach $125.92 billion by 2028, achieving a compound annual growth rate (CAGR) of 8.4%. The factors driving this growth include an increasing demand for healthy snack alternatives, a rise in plant-based and alternative protein products, the expansion of the functional food market, greater adoption in developing regions, and a shift toward sustainable and eco-friendly practices in food production.
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What Is The Primary Growth Driver Of The Food Extrusion Market?
The growing adoption of vegan diets is projected to significantly influence the food extrusion market in the future. A vegan diet focuses on avoiding animal products and emphasizes the consumption of plant-based foods, which has gained traction among health-conscious consumers. Food extrusion plays a crucial role in this trend, as it is a vital manufacturing process for producing a wide range of plant-based foods, including meat alternatives, snacks, cereals, and pasta. This method allows for the efficient creation of diverse textures and flavors, catering to the rising demand for vegan products while supporting the overall growth of the food extrusion market.
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Which Market Leaders Are Behind the Growth of the Food Extrusion Market?
Key players in the food extrusion market include Snactek Food Machines Pvt. Ltd., Bunge Loders Croklaan Group B.V., Hiwant International Inc., Techtronics Machinery Pvt. Ltd., Arca Continental S.A.B de C.V., GEA Group AG, Coperion GmbH, Schenck Process Holding GmbH, Bühler Holding AG, Groupe Legris Industries, Aasted ApS, Axium Foods Inc., Clextral Inc., Baker Perkins Ltd, Wenger Manufacturing Inc., The Bonnot Company, Reading Bakery Systems, PacMoore Products Corporate, Amandus Kahl GmbH & Co. KG, C.A.PICARD SAS, Pavan SPA, American Extrusion International, FBF Italia Srl Company, Akron Tool & Die Co Inc, Doering Systems Inc., Grace Food Processing & Packaging Machinery, Almex USA Inc., Shandong Light M&E Co. Ltd, Diamond America Inc., Snacks Développement SAS
What Key Trends Are Impacting The Size Of The Food Extrusion Market?
Major companies in the food extrusion market are increasingly emphasizing product innovations, such as the introduction of electrically heated twin-screw extruders designed for both laboratory and pilot plant applications. This advanced type of extrusion equipment is particularly valuable in the food processing sector, as it enhances the efficiency and precision of material processing.
How Is The Global Food Extrusion Market Segmented?
1) By Extruder: Single Screw, Twin Screw, Contra-Twin Screw
2) By Process: Cold, Hot
3) By Product Type: Savory Snacks, Breakfast Cereals, Breads, Flours and Starches, Textured Protein, Functional Ingredients, Other Product Types
Regional Insights: Europe Paving the Way in the Food Extrusion Market
Europe was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Food Extrusion Market?
Food extrusion enhances the digestibility of various plant components, including starches and proteins, leading to improved quality and digestibility of food products. This technique applies mechanical force to the raw materials, allowing them to flow through a polished plate or die opening. As a result, food extrusion not only shapes and sizes the final products but also modifies their texture, making them more palatable and easier to digest.
The Food Extrusion Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Food Extrusion Market Report: Trends, Opportunities, Strategies, and More
The Food Extrusion Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into food extrusion market size, food extrusion market drivers and trends, food extrusion competitors' revenues, and food extrusion market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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