Food Extruder Market Size Expands at Steady CAGR of 6%
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global food extruder market size at USD 77.09 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global food extruder market size to grow at a CAGR of 5.92% reaching a value of USD 108.86 billion by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global food extruder market size at USD 77.09 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global food extruder market size to grow at a CAGR of 5.92% reaching a value of USD 108.86 billion by 2029. As growing consumer demand for processed and convenience foods as a result of changing lifestyles and increased disposable incomes is one of the major development reasons for the global food extruder market. Additionally, manufacturers are increasingly focused on developing new products in order to increase their market penetration, which is anticipated to drive the global food extruder market growth during the forecast period.
Global Food Extruder Market – Overview
The food extruder is a compact bioreactor that allows continuous conversion of raw materials into a variety of finished goods. An extruder is the device that pushes the mixture through the die, and the mixture is referred to as the extrudate. It is mostly used to make pasta and dough. Raw materials are thermomechanically transformed by hot extrusion under pressure in a brief, high-temperature process. The primary purpose of this form of extrusion is to heat raw ingredients to create textured food and feed products.
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Global Food Extruder Market
Segmental Information
Global Food Extruder Market – By Product Type
Based on product type, the global food extruder market is segmented into breakfast cereals, savory snacks, flours & starches, bread, textured protein, and others. The savory snacks segment accounts for the highest market share. Extrusion technology enables food producers to create new product forms, sizes, and textures, enabling them to generate a variety of goods and broaden their product line to increase market revenue. Additionally, the ease of obtaining raw materials for savory snacks plays a crucial role in boosting its share in the market.
Impact of COVID-19 on the Global Food Extruder Market
The COVID-19 pandemic brought immense growth opportunities to the global food extruder market. The demand for convenience and ready-to-eat packed food products witnessed a huge spike in their demand due to consumers’ panic buying during the lockdown. Furthermore, the adoption of remote working and the closure of gyms directly influenced the demand for healthy and convenient packaged food products. As a result, the food manufacturers expanded their production capacities and improved their supply chains and logistics to meet the growing demand, which directly boosted the demand for food extruders in the market.
Competitive Landscape
Major players operating in the global food extruder market include Bühler, Kett Manufacturing, Clextral, DSM, Farell, Brabender, Leistritz Extrudertechnik, Baker Perkins, SPX Flow Technology, Haas & Sohn, Niro Soavi, Molinex, EREMA, Shennong Machinery, and Andritz. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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