Global snack pellet equipment market is anticipated to grow from US$ 1800 Mn in 2023 to US$ 2,988.3 Mn by 2032, with overall sales accelerating at 5.2% CAGR throughout the forecast period (2023 and 2033).
Snack pellet equipment market is being driven by an increase in demand for packaged and processed products, as well as an increase in demand for food safety.
The snack pellet equipment business is a mature industry that is undergoing a period of change because of rising customer demand for better food safety, sustainability, and quality. Rising demand for healthy snacks, flourishing fast food industry, and changing consumer preferences are expected to boost the snack pellet equipment market during the forecast period.
Similarly, introduction of advanced snack pellet equipment with improved machine efficiency and increased speed, and increased usage of automated processing systems are likely to propel the global snack pellet equipment market forward during the next ten years.
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Various governments are helping snack pellet equipment manufacturers to produce snack pellet equipment at a large scale by providing subsidies and interest-free loans to support meat processing and related industries.
Automation and innovation in snack pellet equipment have cut down various costs which used to occur while manufacturing snack pellets equipment machines. As a result, majority of snack pellet manufacturing companies today are employing these machines in their facilities.
Key Takeaways from the Snack Pellet Equipment Market Study:
- By product type, the multigrain-based segment is expected to grow at the highest CAGR during the forecast period.
- Based on equipment type, extrusion segment is likely to retain its dominance in the global snack pellet equipment market during the assessment period.
- North America will continue to remain at the top of the ladder in the global snack pellet equipment market over the next ten years.
- Asia Pacific is poised to grow at a higher pace during the projected period of 2023-2033.
- The U.S. currently holds around 44% share of the North America snack pellet equipment market and it is poised to grow at a significant pace between 2023 and 2033.
- The U.K. snack pellet equipment market size reached around US$ 213.1 Mn in 2023.
Rising demand for fast food products and technological advancements in manufacturing machinery are projected to boost snack pellet equipment market during the next ten years”, says the FMI analyst.
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Who is winning?
Top Players in snack pellet equipment market include Clextral, GEA Group, Buhler AG, N.P. & Company, Inc., Kiremko B.V.
These players are continuously adopting strategies such as new product launches, partnerships, mergers, acquisitions, and collaborations to solidify their positions and expand their global presence.
Get Valuable Insights into Snack Pellet Equipment Market
FMI, in its new offering, provides an unbiased analysis of the Snack Pellet Equipment market presenting historical demand data (2017-2023) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Snack Pellet Equipment Market based on Product Type (Potato-Based, Corn-Based, Rice-Based, Tapioca-Based, Multigrain-Based), Form (2D, Tridimensional, Die-Faced), Equipment Type (Extrusion, Mixing, Cutting, Drying, Frying, Seasoning), & Region.
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