According to the new market research report "Snack Pellets Market by Type (Potato, Corn, Rice, Tapioca, Multigrain), Form (Laminated, Tridimensional, Die-face, Gelatinized), Equipment (Twin Screw Extruder, Single Screw Extruder), & by Region - Global Forecasts to 2020", published by MarketsandMarkets™, the The market for pine-derived chemicals is projected to reach USD 7 Billion by 2020, at a CAGR of 6.0%
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The snack pellets market is considered as a niche segment but is one of the fastest-growing segments of the snack market due to the increasing consumer preference for convenience food products. The global snack pellets industry has witnessed strong growth trends in the last five years. The snack pellets market is driven by the rising demand for healthier snack foods.
Snack pellets helps snack manufacturers in offering a clean label to their products by offering pellets that have the same expansion and texture and satisfying consumer demand for safe and healthy snacking options. Low impact of regulations, low investments, low cost of maintaining distribution channel, and significant demand from consumers encourage manufacturers to innovate and expand in tandem with the market growth. However, manufacturers face intense competition from inter- and intra-industry peers in sourcing raw material, ultimately restraining the market growth to a significant extent.
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The snack pellets market is growing in accordance with the advancement of the processed food industry. Transforming lifestyles in the urban households of consumers result in increasing dependence on processed food products. Busier lifestyles also induce the need for ready-to-eat snack foods such as snack pellets. Availability of snacks pellets in a variety of shapes, colors, and flavors also attracts consumer of lower age groups, creating a separate consumer segment.
The regions covered in this report are North America, Europe, Asia-Pacific, Latin America, Africa, and RoW. The market is further segmented on the basis of the key countries in these regions. Types of these pellets have been analyzed based on the trends of the regional markets.
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Key players profiled in the report include Intersnack Group GmbH & Co. KG (Germany), Leng-d'Or S.A. (Spain), Limagrain Cereales Ingredients (France), Grupo Industrial Michel (Mexico), J.R. Short Milling Company (U.S.), LIVEN S.A. (Spain), Quality Pellets A/S (Denmark), Dalmaza Food Industries Company (Saudi Arabia), Pasta Foods Ltd (U.K.), and Balance Foods, Inc. (U.S.).
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