At 3.5% CAGR, North America Snack Pellets Market is Projected to be Worth US$ 2,804.88 Million by 2030, says Business Market Insights

According to Business Market Insights’ research, the North America snack pellets market was valued at US$ 2,136.08 million in 2022 and is expected to reach US$ 2,804.88 million by 2030, registering a CAGR of 3.5% from 2022 to 2030. Rising trend of healthy snacking and rising popularity of RTE snacks among population are among the critical factors attributed to drive the North America snack pellets market growth.

Consumers increasingly seek snack options that align with their health and wellness goals, prompting manufacturers to provide innovative, nutritious, and better snack choices to cater to health-conscious consumers.

One noteworthy aspect of this trend is the introduction of gluten-free products in the North America snack pellets market. As gluten sensitivity and awareness of gluten-related health issues grow, there is a rising demand for snacks that cater to individuals with dietary restrictions. Manufacturers have responded by developing gluten-free variants of snack pellets, often using alternative flour and grains such as rice or corn. This expansion into gluten-free options addresses specific dietary needs and broadens the market’s appeal to a wider range of consumers looking for allergen-friendly and healthier snack choices. There has been a rise in popularity of insect flour due to its high protein content and sustainable alternative to conventional protein sources such as meat, poultry, seafood, among others. Therefore, manufacturers of snack pellets are incorporating insect flour in their products to attract new, potential customers. For instance, Quality Pellets, a Denmark-based company has started developing new snack pellets with insect flour. The products are tested in selected locations and the company is looking forward for consumer feedback. Such developments are expected to positively impact the North America snack pellets market over the coming years. Further, there has been an increasing demand for multi-grain snacks and seaweed-based snacks due to their health benefits and variety of flavor, texture, and shapes. Recently in September 2022, Pringles, a snack brand of Kellogg Company, launched multigrain and sweet potato crisps with non-HFSF (non-high in fat, sugar, and salt) claims. These crisps are made of wheat, barley, black beans, and sweet potatoes which are great sources of fiber, protein, and good carbs and are available in innovative flavors such as Sea Salt, Smoky BBQ, Homestyle Ranch, and Farmhouse Cheddar. Thus, the rising demand for multi-grain snacks is expected to boost the overall North America snack pellets market over the next few years. The rising focus on healthy snacking prompts ingredient selection and formulation innovation in the North America snack pellets market. Manufacturers are incorporating natural and functional ingredients such as superfoods, seeds, and nutrient additives to enhance the nutritional value of their products. By using ingredients known for their health benefits, snack pellets are positioned to meet the demands of wellness-conscious consumers. Thus, rising demand for healthy snacks is expected to provide strong growth potential to the snack pellets manufacturers over the forecast period.

On the contrary, growing production cost hampers the growth of North America snack pellets market.

By source, the North America snack pellets market is segmented into potato, corn, rice, tapioca, multigrain, and others. The potato segment held 31.9% share of North America snack pellets market share in 2022, amassing US$ 682.05 million. It is projected to garner US$ 853.42 million by 2030 to register 2.8% CAGR during 2022–2030.

In terms of type, the North America snack pellets market is segmented into plain and flavored. The plain segment held 80.4% share of North America snack pellets market share in 2022, amassing US$ 1,717.02 million. It is projected to garner US$ 2,227.59 million by 2030 to register 3.3% CAGR during 2022–2030.

Based on form, the North America snack pellets market is segmented into laminated, die face, tri dimensional, and others. The laminated segment held 31.8% share of North America snack pellets market share in 2022, amassing US$ 679.07 million. It is projected to garner US$ 866.33 million by 2030 to register 3.1% CAGR during 2022–2030.

Based on country, the North America snack pellets market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 75.7% share of North America snack pellets market in 2022. It was assessed at US$ 1,615.95 million in 2022 and is likely to hit US$ 2,115.94 million by 2030, registering a CAGR of 3.4% during 2022–2030.

Key players operating in the North America snack pellets market are Balance Foods Inc, JR Short Milling Co, Le Caselle SpA, LENG-D'OR SAU, Mafin SRL, and Societe Cooperative Agricole Limagrain, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com