The global food extruder market proudly showcases a substantial valuation of US$ 59.6 billion, and there's no sign of it losing momentum. Projections suggest a consistent Compound Annual Growth Rate (CAGR) of 3.9% throughout the forecast period, with expectations of it achieving an impressive US$ 87.2 billion by the year 2033.
Food extrusion, often regarded as a technological marvel, brings with it a multitude of advantages. Foremost among these is its sheer versatility. Extruders can process a wide range of ingredients, enabling the creation of diverse food products with varying textures, appearances, and colors. From the crispy delights of snacks and the wholesome goodness of breakfast cereals to the nutritious meals for our furry companions and the promising future of meat alternatives, the possibilities are virtually boundless.
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Driving Factors:
The evolving consumer lifestyle, characterized by an increasing preference for packaged and processed foods, propels food businesses to adopt advanced food extrusion technology. This technology not only enhances productivity but also promotes energy efficiency.
Innovation and Expansion:
Emerging companies are embracing food extruder systems to diversify their product portfolios, venturing into the production of various processed food items, including those made from grains and spices.
Key Highlights:
- The dominant product category is the single screw extruder, expected to flourish at a 3.2% CAGR (2023 – 2033). Its ease of maintenance and operational flexibility contribute to its sustained growth.
- Leading the end user segments, food processing is projected to expand at a 3.6% CAGR between 2023 and 2033. Its significant contribution to the food processing domain accounts for its robust growth rate.
- The US food extruder market has exhibited strong growth and is poised to achieve the highest CAGR of 3.0% throughout the forecast period. Valued at US$29.2 billion, this growth is propelled by a burgeoning food and beverages industry, coupled with a rising demand for nutritious processed bars.
- China, expected to secure the second-largest market share of US$5.8 billion by 2033, is anticipated to experience the second-highest CAGR of 2.9% between 2023 and 2033. This growth is attributed to an increase in per capita income and the prevalence of contemporary instant food trends in China.
Competitive Landscape:
Prominent companies within the food extruder market prioritize enhancing unit efficiency, speed, affordability, and reliability. Their strategies encompass employing techniques like mergers and acquisitions to bolster supply chains and diversify distribution channels. Key players in this market include Buhler, Baker Perkins, Coperion, Lindquist Machine, and Pavan SPA.
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Recent Market Developments:
- Baker Perkins has unveiled novel extruders that leverage twin-screw extrusion technology at the core of their versatile systems, enabling the production of a wide array of high-quality extruded ingredients.
- Buhler has expanded its processing unit's offerings with the integration of advanced extruders, catering to the production of aqua feed, pet food, breakfast cereals, and food ingredients. The rising demand for packaged and affordable processed foods is driving this innovation.
Food Extruder Market by Category:
By Type, the Food Extruders Market is Segmented as:
- Single Screw Extruders
- Twin Screw Extruders
- Contra Twin Screw Extruders
By End Use, the Food Extruders Market is Segmented as:
- Food Processing
- Bakery Confectionaries
- Others
By Sales Channel, Food Extruder Market is Segmented as:
- Direct
- Retail Sales
By Region, Food Extruder Market is Segmented as:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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