Meticulous Research®—leading global market research company published a 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.'
According to this latest publication from Meticulous Research®, the snack processing equipment market is expected to grow at a CAGR of 6.6% to reach $1.80 billion by 2029.
Consumers' food habits are shifting towards snacks over three meals a day. The high demand for snack food, technological advancements in processing equipment, and the rising trend of healthy snacking are driving the growth of the snack processing equipment market. In addition, rapid urbanization, rising disposable income, and improved consumer lifestyle have accelerated the demand for convenient, on-the-go food products.
Snack Processing Equipment Market: Future Outlook
The snack processing equipment market is segmented based on equipment type (extruders, mixers, dryers, fryers, seasoning and flavoring equipment, other equipment), mode of operation (automated, semi-automated/manual), application (chips, extruded & puffed snacks, nuts & seeds, 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, the snack processing equipment market is segmented into extruders, mixers, dryers, fryers, seasoning and flavoring equipment, and other equipment (belts & conveyors, control systems, depositors, dividers & rounders). In 2022, the extruders segment is estimated to account for the largest share of the market. Extrusion is a commonly involved process in snack preparation. The demand for extruded snacks is also high globally. Furthermore, the cost-effectiveness offered by the extruders compared to other snack processing equipment 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 snack 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.
Based on application, the snack processing equipment market is segmented into chips, extruded & puffed snacks, nuts & seeds, and other snacks. 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.
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, The Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), and the Middle East & Africa.
In 2022, Asia-Pacific is estimated to account for the largest share of the snack processing equipment market. The rapid growth of this regional market is attributed to the growing production capacities of snack processing companies in the region, rising investments to strengthen the food processing sector, and the increasing number of government initiatives to support foreign direct investments.
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).
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