Meticulous Research®, in its latest publication on the Snacks Processing Equipment Market, states that this market will grow at a CAGR of 6.6% from 2022–2029 to reach $1.80 Billion by 2029.
Consumers’ food habits are shifting from three meals a day to healthy snacks that can fulfill nutritional requirements and provide tasty snack options. Busy lifestyles are influencing the buying decisions of consumers. Consumers are changing their diet patterns to include snack food products based on convenience, brand, and health. In recent years, the consumption of snacks witnessed a significant increase. The growth of this market is attributed to the increasing global demand for snack food, innovations in snack processing equipment, and the growing trend of healthy snacking. In addition, the initiatives taken by numerous public organizations to enhance snack food processing are expected to provide significant opportunities for the growth of this market.
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Based on geography, in 2022, Asia-Pacific is estimated to account for the largest share of the snacks processing equipment market. The high growth of this regional market is driven by the easy availability of raw materials for food processing in India, lower labor costs, and lower overall production costs. In addition, the food processing sector in Asia-Pacific has experienced a large number of foreign direct investments due to favorable government and taxation policies in the region.
Based on equipment type, in 2022, the extruders 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 the high adoption of extrusion processing for snack foods, the growing consumption of extruded snack foods, and the cost-effectiveness offered by the extruders compared to other processing techniques.
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. There is a high concentration of snack food processing plants in developing countries in Asia-Pacific, where the adoption of manual/semi-automated equipment is the highest, as these types of equipment offer low capital cost and low & easy maintenance.
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Based on application, in 2022, the chips segment is estimated to account for the largest share of the snacks processing equipment market. 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.
To provide efficient analysis, Meticulous Research® has segmented the snacks processing equipment market 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.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on the key players operating in the snacks processing equipment market, such as 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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