Snack Processing Equipment Market by Equipment Type (Extruders, Dryers, Fryers, Flavoring, Seasoning), Mode of Operation (Automated, Semi-automated, Manual), and Application (Chips, Extruded Snacks, Nuts, Other Snacks) - Global Forecast to 2029
Redding, California, May 04, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Snack Processing Equipment Market by Equipment Type (Extruders, Dryers, Fryers, Flavoring, Seasoning), Mode of Operation (Automated, Semi-automated, Manual), and Application (Chips, Extruded Snacks, Nuts, Other Snacks)—Global Forecast to 2029,’ published by Meticulous Research®, the snacks processing equipment market is expected to grow at a CAGR of 6.6% from 2022–2029 to reach $1.8 Billion by 2029.
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Snacking is a prominent dietary habit worldwide. Snacking habits have increased significantly among consumers in recent years. As per the data released in the Nutrition Journal, more than 50% of adults snack twice or thrice a day. In Canada, more than 80% of the population snack at least once a day.
Consumers are shifting from the conventional three meals a day to more frequent snacking, even replacing meals. Additionally, millennials are shifting their food habits to snacks to supplement their nutritional needs. The most commonly preferred snack foods include corn puffs, fried extruded snacks, chips, and nuts & seeds.
The snack buying behavior has also shifted to healthier snacking options. The consumer demand for snack food is higher for food products that are high in protein and fiber, calcium-fortified, low in carbs, and rich in vitamins and minerals, antioxidants, probiotics, and collagen. Thus, a shifting preference for healthier snacking options is reshaping the snacks processing equipment market. Apart from the rising trend of healthy snacking, technological innovations in snack food equipment and the growing demand for snacks processing equipment drive the growth of this market.
Impact of COVID-19 on the Snack Processing Equipment Market
The COVID-19 pandemic positively impacted the snack food industry. The nationwide lockdowns imposed in different countries created significant opportunities for snack food products due to their high storage shelf life, easy accessibility, and better palatability, increasing their consumption. The outbreak of the COVID-19 pandemic highlighted the importance of functional ingredients in diets, resulting in the increased demand for healthy snacking options. For instance, as per the data released by the International Food Information Council in 2021, 85% of Americans changed their diet patterns after the COVID-19 outbreak.
The extended lockdowns across various countries led consumers to become more dependent on processed food, including different types of snacks such as potato chips, dips, and tortillas. Furthermore, during the lockdowns, there was an increase in the sales of snack food products due to their longer shelf life. Additionally, e-commerce platforms selling these products have witnessed a significant increase in recent years, increasing accessibility to these products and driving the demand for snack food processing equipment.
The COVID-19 pandemic moderately affected the demand for snack food due to disruptions in supply chains. However, these effects were temporary and gradually reduced without significantly affecting the snacks processing equipment market.
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The snack processing equipment market is segmented based on equipment type (extruders, mixers, dryers, fryers, seasoning & flavoring equipment, other equipment), mode of operation (automated, semi-automated/ manual), application (chips, extruded & puffed snacks, nuts & seeds, and others) and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on equipment type, in 2022, the extruders segment is estimated to account for the largest share of the snacks processing equipment market. Extrusion is among the most commonly used manufacturing processes. Extruders offer several economic benefits by allowing the processing of multiple products on a single processing line. Additionally, the rising demand for extruded snacks drives the market growth of this segment.
Based on mode of operation, in 2022, the semi-automated/manual segment is estimated to account for the largest share of the snacks processing equipment market. The large market share of this segment is attributed to its cost-effectiveness. The snack processing industry is concentrated in developing countries in Asia-Pacific, where the adoption of automated equipment is still in its nascent stage. Thus, the integration of automated technologies with manual equipment offers low capital cost and low and easy maintenance, resulting in the increased adoption of semi-automated/manual equipment. However, the automated segment is slated to register the fastest market growth during the forecast period. The rapid growth of this segment is driven by the increasing need for automation in snack food processing to meet the growing snack food demand. Furthermore, automation enables snack processing companies to reduce contamination, improve plant conditions, and minimize manual interaction, improving precision and accuracy in the process.
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Based on application, in 2022, the chips segment expected to account for the largest share of the market. Chips are among the most common snacking foods in the U.S. and European countries. The growth of this segment is attributed to the growing consumption of chips across all age groups, the introduction of new flavors by the leading chips brands, and the introduction of new processing techniques enabling the production of healthy chips with low-fat content. However, the nuts & seeds segment is estimated to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is driven by the changing lifestyle patterns and the rising health-conscious population, resulting in an increased demand for nuts. The role of snack foods is changing and shifting towards replacing meals. Consumers are replacing meals with multiple snacks involving nuts and seeds. The consumption of minimally processed nuts and seeds is increasing as they offer a convenient and healthy way to include proteins and fibers into the diet.
Based on the geography, Asia-Pacific is slated to register the fastest market growth during the forecast period. The growth of this regional market is driven by the expansion of snack food manufacturing plants, the rising number of investments in the food processing sector, and favorable initiatives to strengthen the food processing sector.
The report also includes an extensive assessment of the key strategic developments adopted by leading market participants during 2019–2022. The snacks processing equipment market has witnessed several product launches, collaborations, agreements, and mergers & acquisitions in the last couple of years.
Some of the key players operating in the snack processing equipment market are Clextral (France), GEA Group AG (Germany), The Bühler Holding AG (Switzerland), N.P. & COMPANY INC. (Japan), Kiremko B.V. (Netherlands), Tsung Hsing Food Machinery Co., Ltd. (Taiwan), AC Horn Manufacturing (U.S.), DAYI MACHINE (China), Intraco, Inc. (U.S.), Ishida Europe Limited (U.K.), Kiron Food Processing Technologies LLP (India), Grace Food Processing & Packaging Machinery (India), and Jinan Sunward Machinery Co., Ltd. (China).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/snack-processing-equipment-market-5275
Snack Processing Equipment Market, by Equipment Type
Note: Other equipment includes belts & conveyors, control systems, depositors, dividers & rounders.
Snack Processing Equipment Market, by Mode of Operation
Snack Processing Equipment Market, by Application
Note: Other snacks include noodles and nutrition/cereal bars/balls.
Snack Processing Equipment Market, by Geography
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Amidst this crisis, Meticulous Research® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research
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