The Food Extrusion Global Market Report 2023 by The Business Research Company, provides food extrusion market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Food Extrusion Global Market Report 2023, the market size is expected to grow from$79.69 billion in 2022 to $86.59 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the food extrusion market is expected to grow to $114.26 billion in 2027 at a CAGR of 7.2%.
The rapid growth in the consumption of processed food is expected to propel the growth of the food extrusion market going forward. Processed products refer to products that are cooked and packed. It is a process of converting agricultural products into food, they are also called ready-to-eat food. The food extrusion process in packaged and processed food improves the digestibility of proteins and starches and destroys the anti-nutritional factors in food. The changing lifestyles and increased disposable incomes for the people are leading to the increasing demand for ready-to-eat products as they reduce time and effort for the people.
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The food extrusion market is segmented:
1) By Extruder: Single Screw, Twin Screw, Contra-Twin Screw
2) By Process: Cold, Hot
3) By Product Type: Savory Snacks, Breakfast Cereals, Breads, Flours and Starches, Textured Protein, Functional Ingredients, Other Product Types
Technological innovations have emerged as the key trend gaining popularity in the food extrusion market. Major companies operating in the food extrusion market are developing new technological innovations to sustain their position in the market. For instance, in August 2021, GEA, a German-based company that designs and manufactures food extrusion machinery launched its high-capacity extruder named as Tru Twin series based on screw assembly technology. By using this Tru Twin series, users can increase the production capacity up to 40%. This model is used for both the food and pet food industries. This model of the Tru Twin series helps to increase the production capacity of the plants.
The food extrusion market report table of contents includes:
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Top Major Players
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