North America Snack Pellets Market – Industry Trends and Forecast to 2029

 Market Analysis and Insights

North America snack pellets market is gaining significant growth due to the growing food & beverage industry and the rise in demand for a variety of flavors as well as different shaped packaged food products. Growing consumption of snack pellets or packaged food products due to hectic life schedules is also boosting the growth of the North America snack pellets market. However, fluctuating prices of raw materials are expected to restrain the market growth of the snack pellets market during the forecast period.

Data Bridge Market Research analyses that the North America snack pellets market will grow at a CAGR of 5.9% during the forecast period of 2022 to 2029.

Market Definition

Snack pellets are a semi-finished ingredient which means that once produced by manufacturers, they are ready for the customers to manufacture into their finished innovative products. Snack pellets are a versatile, innovative way to disrupt the snacking category. There are many benefits for snack brands to consider pellets within their portfolio. Air-popped/ zero oil new and on-trend bases can be used. Snack pellets can also work without seasoning. Snack pellets hold flavor well. These include various types, flavors, and shapes.

North America Snack Pellets Market Dynamics

Drivers

• Increasing replacement of meals with healthy snacks

A snack is generally defined as any food eaten between main meals. Many people snack at least once during the course of a day, and there are several reasons why consumers prefer snacking as they experience a dip in energy levels that a small bite can remedy. Also, they look forward to experiencing the taste of certain snack foods. Another important reason is the busy lifestyle of consumers that is enabling them to switch to snacks for at least one meal replacement. People prefer healthy snack pellets as they are full of nutrients and help the hunger of the consumers.

Thus, the demand for snack pellets in the market is anticipated to grow due to the increasing working population, growing per capita disposable income, rising per capita expenditure on convenience food, changing taste preferences of people, and the change in lifestyle among affluent consumers.

• Availability of various flavors in chips and crackers

Increasing demand for flavorful chips and crackers among consumers coupled with rising demand for convenient food products is one of the major reasons for the high demand for savory snacks such as chips, and crackers, among others. Thus, manufacturers fulfill these demands of consumers by consistently launching new flavors of potato-based, cereal-based chips and crackers. In addition, manufacturers use it as a marketing strategy and launch new products in the market. The aforementioned factor is anticipated to boost the demand for the market.

Opportunities

• The emergence of healthy snack pellets

Healthy snacking is no longer a short-lived trend as it has become essential for consumers owing to increased health awareness. To meet the strong consumer expectations and demands, manufacturers are developing healthy snack pellets with an improved nutritional profile. Furthermore, consumers are concerned about the broad spectrum of health concerns, which are related to immunity and various diseases. Thus, consumers are opting for organic and cereal-based food to maintain their health. Thus, snack pellet manufacturers are launching organic and healthy snack pellets to attract consumers.

Restraints/Challenges

• Fluctuating prices of raw materials

As the price of raw materials increases, it affects the whole supply chain from the manufacturers-distribution channel-marketing company and mostly the consumers with low income. If raw material prices increase, the prices of the finished product will also increase. This is the major restraining factor for the snack pellets market. The raw material needed for snack pellets are potatoes, corn, rice, tapioca, multigrain, and others. Increasing prices of these raw materials are expected to hinder the growth of the snack pellets market as snack pellets manufacturers find it difficult to buy raw materials such as potatoes, rice, tapioca, and others amid the fluctuating prices.

Post COVID-19 Impact on North America Snack Pellets Market

Post COVID-19, the demand for snack pellets is increased in the North America region due to changes in the buying pattern of consumers and a gradual shift towards packaged food products. Due to the discontinuation of many strict mandates and restraints, manufacturers and producers are able to fulfill the demand for snack pellets in the region. In addition, the increasingly busy work schedules enable consumers to shift towards snacks that can help their hunger which is anticipated to propel the market's growth.

The increased demand for different flavored snack pellets enables manufacturers to launch innovative and flavored snack pellets, which ultimately increases the demand for snack pellets, which is expected to help the market grow.

Recent Developments

• In December 2019, PepsiCo, a leading company in the food & beverage industry, announced its acquisition of the BFY Brands, which is a private company that manufactures snacks all across the North American region. This acquisition has increased the company's product portfolio and helped the company gain more revenue.
• In March 2020, according to food business news, the companies which manufacture packaged food such as snacks and snack pellets in the U.S. retail sales were expected to grow by as much as 15% to 30% on average from March to May 2020 period.

North America Snack Pellets Market Scope

North America snack pellets market is segmented into eleven notable segments based on type, form, shape, ingredients, processing method, nature, technique, brand, flavor, application and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Type

• Crackers
• Chips
• Puffs
• Others

On the basis of type, the North America snack pellets market is segmented into crackers, chips, puffs, and others.

Form

• Laminated
• Die faced
• Gelatinized
• Punched
• Die distance
• Tridimensional
• Two dimensional

On the basis of form, the North America snack pellets market is segmented into laminated, die faced, gelatinized, punched, die distance, tridimensional, and two dimensional.

Shape

• Round
• Oval
• Ring
• Triangular
• Square
• Star
• Others

On the basis of shape, the North America snack pellets market is segmented into round, oval, ring, triangular, square, star, and others.

Ingredients

• Potato
• Corn
• Rice
• Tapioca
• Multigrain
• Others

On the basis of ingredients, the North America snack pellets market is segmented into potato, corn, rice, tapioca, multigrain, and others.

Processing Method

• Greasy Snack Pellet
• Non-Greasy Snack Pellet

On the basis of the processing method, the North America snack pellets market is segmented into greasy snack pellet and non-greasy snack pellet.

Nature

• Organic
• Conventional

On the basis of nature, the North America snack pellets market is segmented into organic and conventional.

Technique

• Single-Screw Extruder
• Twin-Screw Extruder

On the basis of technique, the North America snack pellets market is segmented into a single-screw extruder and twin-screw extruder.

Brand

• Branded
• Private label

On the basis of brand, the North America snack pellets market is segmented into branded and private label.

Flavor

• Plain
• Flavor

On the basis of flavor, the North America snack pellets market is segmented into plain and flavor.

Application

• Household
• Commercial

On the basis of application, the North America snack pellets market is segmented into household and commercial.

Distribution Channel

• Direct
• Indirect

On the basis of distribution channel, the North America snack pellets market is segmented into direct and indirect.

North America Snack Pellets Market Regional Analysis/Insights

The North America snack pellets markets is analyzed, and market size insights and trends are provided based on as referenced above.

The countries covered in the North America snack pellets markets report are U.S., Canada, and Mexico.

The U.S. is expected to dominate the North America snack pellets marketing in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing demand for snack pellets for the fulfillment of consumer demand. Snacks are an important part of people's diet. In the region, people prefer snacks throughout the day, which is expected to drive the market's growth.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of manufacturers and their challenges faced due to high competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and North America Snack Pellets Market Share Analysis

The North America snack pellets market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the North America snack pellets market.

Some of the key players in the North America snack pellets market are BACH SNACKS SAL, Calbee, J.R. Short Snack Products, GRUPO MICHEL, LC America, Inc., Almounajed Food Industries, Chhajed Foods Pvt. Ltd, Fiorentini Alimentari S.p.A., Gustinos, Productos Alimenticios La Moderna S.A. de C.V., Le Caselle SPA, mafin, Palmex, Universal Robina Corporation, JLM Global Foods, Limagrain – Ingrédients, Quality Pellets, Pellsnack Products GmbH, BFY BRANDS, Attaybat, TTK, Intersnack Group GmbH & Co. KG, Leng-d'Or, YUPI SAS, among others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, North America vs. Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.