FOOD EXTRUSION MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Food Extrusion Market Size and Trends

The Food Extrusion Market is estimated to be valued at USD 88.30 Bn in 2024 and is expected to reach USD 137.22 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

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Extruded food products offer significant advantages over other processing methods as they can be produced in a single, continuous process and also lead to improved texture and nutritional profile of finished products. Additionally, growing demand for convenience and ready-to-eat snacks and foods is further expected to drive the market growth. Improving economic conditions and rising disposable incomes in developing countries will also contribute to the market growth as consumers spend more on packaged and processed food products. However, stringent regulations regarding food safety and quality may hamper the growth to some extent over the forecast period.

Increasing demand for convenient, processed foods

The fast-paced, hectic lifestyle that many people around the world seem to adopt has significantly boosted demand for convenient, processed foods that save on time spent in the kitchen. Extruded food products like ready-to-eat cereals, savory snacks and breakfast bars have become extremely popular as they can be easily prepared and consumed on the go. Busy consumers appreciate how extruded items do not require much preparation work and can be eaten anywhere without the need for cooking utensils or appliances. This direct appeal of extruded foods to harried urban populations has encouraged food companies to expand their portfolios of convenient snack options. Furthermore, the growth of nuclear families where both parents work means greater demand for time-saving, kid-friendly breakfast and snack ideas. Extrusion being a high-volume production technology allows the mass manufacturing of convenient fiber-fortified cereal bars, puffed snacks, etc., offering affordable options to time-starved households. Rising health awareness about balanced nutrition has also prompted the development of extruded snacks containing whole grains, proteins, and fiber. The convenience and perceived wellness factors together are major contributors to the increasing preference for extruded packaged foods.

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Focus on nutrition and wellbeing

In recent years, consumers across the world seem to be paying greater attention to the link between diet and overall health and wellbeing. This has upped the demand for wholesome, nutritious foods that provide functional benefits beyond basic sustenance. The extrusion process enables fortifying staple grains with essential micronutrients to address nutritional deficiencies. It also aids producing foods that are enriched with proteins, fibers, prebiotics and omega-3 fatty acids known to promote health. Manufacturers are actively developing extruded products focused on specific health aspects like cognitive function, gut health, heart health, etc. For example, fiber-rich multi-grain cereals for regularity and weight management, protein-enriched snacks for muscle recovery. Even savory snacks are incorporating vegetables, legumes, and ancient grains through extrusion. The growing wellness-oriented consumer base is gravitating towards extruded options perceived as naturally nutritive. Additionally, individuals with food allergies and lifestyle-based diets like veganism and paleo are driving diversification in specialized extruded foods suitable for their requirements.