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Pharmacy benefit management market
INDUSTRIAL FOOD EXTRUDER MARKET REPORT OVERVIEW
The global industrial food extruder market size was USD 55390 million in 2022 and will touch USD 70200 million by 2028, exhibiting a CAGR of 4% during the forecast period.
Remarkable advancements have been observed by the food extruder industry because of the versatility and efficiency with which these devices make food products. It is a food-processing technique with a potential to create a wide spectrum of treats, cereals and pet food products with a desired uniform quality and texture. Manufacturers are making a substantial investment in research and development of extruder performance, which helps them improve their methods of production, & to produce more novel types of food. The market demand for modern food products is growing. Furthermore, incorporating technologies like energy-saving and eco-friendly extrusion systems in addition to the environmental strategy programs of the industry is stimulating market expansion.
In addition, the synergism in smart manufacturing and automation has an extraordinary impact on the industrial food extruder market. Implementation of intelligent control systems or automated production lines allows a production system to be more precise, more energy-efficient, and more consistent regarding product quality. This tendency is advantageous especially in the case of the small and medium enterprises (SMEs) that will be able to maintain a winning outlook on the market. Since the issue of food supply continues to be dominated by productivity and quality, the urgency for advanced extrusion at the food industry will most likely remain high, triggering significant innovation and the creation of new market opportunities.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Lockdown Restrictions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The global supply chain was disturbed with manufacturing and trading being affected too because of that. Those distractions resulted in a reduction in terms of production and distribution processes. Less consumption by customers and changes in how they spent their money demonstrated a weakness in demand for the extruded food products, and this in turn affected the general usefulness of food extruders across the industry. In addition, food safety and hygiene fears as a result of the looming issues contributed to the postponing of stock and investments. The sales and revenue were reduced for the industrial food extruder market because of the pandemic which had a negative impact on the industrial food extruder market.
LATEST TRENDS
"Customization Driven Innovation to Reshape the Market"
A prominent trend in the industrial food extruder market is the growing need for high quality customized extrusion solutions that will satisfy the unique food processing needs of each company. While manufacturers provide more and more tailor made and moldable extrusion systems capable of producing diverse products which go from soft to crispy, they are also capable of providing a wide range of texture, shape and associated characteristics. This trend is the consumers' demand for the food to be tailored for them or niche like products and also this is needed to be more flexible in food production. In the food industry, personalization is gaining momentum, we can expect this trend to spark innovations and direct the industrial presse development.
INDUSTRIAL FOOD EXTRUDER MARKET SEGMENTATION
By Type
Based on type the global market can be categorised into Single Crew, & Twin Crew.
- Single Crew: These extruders feature a single screw or auger within the extrusion chamber, where the raw materials are fed and processed. These extruders are typically used for simpler applications and products that require less precise control over processing parameters.
- Twin Crew: These extruders are equipped with two parallel screws that work in tandem to mix, convey, and process the raw materials. This configuration offers greater flexibility and control over the extrusion process, making Twin Crew extruders suitable for a wide range of complex food products with varying textures, shapes, and ingredients.
By Application
Based on application the global market can be categorised into Savory Snacks, Breakfast Cereals, Functional Ingredients, & Others.
- Savory Snacks: They represent one of the largest segments in the market, where extrusion technology is widely used to produce a variety of snack products such as chips, crackers, and puffed snacks.
- Breakfast Cereals: They form another significant application area, with extruders utilized to manufacture cereal flakes, loops, and shapes.
- Functional Ingredients: This includes protein-rich snacks, fiber-enriched products, and fortified foods, showcasing the versatility of extrusion technology in incorporating nutritional elements into food products.
- Others: This category encompasses a diverse range of applications, including pet food production, textured vegetable protein (TVP), and meat analogs.
DRIVING FACTORS
"Demand for Healthy Snacking to Fuel the Market Growth"
Consumers' desire for snacking alternatives that are convenient and healthy is one of the most prominent driving forces behind the industrial food extruder market growth. The consumers are becoming more health-aware and are looking for snacks which not only taste good, but also offer some nutritional benefits with convenience to eat. Industrial food extrusion machines are those major actors that help the world in responding favorably to the market demand of providing numerous healthy snack choices. The shift towards healthy snacking is undeniably the primary factor influencing the market uptrend. The worldwide brands are investing heavily in extrusion technologies to economically benefit from the segment of health-conscious consumers.
"Versatility in Product Innovation to Drive Demand in the Market"
Food industry is always focused on ways the products can stand out on the market allowing the to meet the varying consumer preferences; this stimulates demand for the processing solutions having a high level of adaptability. The industrial food extruders convey the versatility of producing wide varieties of foods products, which may start from regular snacks and may end with the development of TVP, meat alternatives, and functional foods. These elements in industrial food extruders are dominant factors in market expansion because they allow to create a unique flavor of food and to push forward novel food products, which are the trend in food business nowadays.
RESTRAINING FACTORS
"Cost Barriers to Impede the Market Expansion"
A critical bottle-neck in the industrial food extruder market is the high capital cost involved in purchasing and using the extrusion system. A high cost of commercial extruders and the essential operation infrastructure turning into obstacle barriers for the SME sector while paving the way to the market is another challenge. Furthermore, the high factor of complexity of extrusion processes and the need for and highly skilled labour also further contribute to the cost of adoption. The market will have to overcome these challenges to continue growing at its true potential.
INDUSTRIAL FOOD EXTRUDER MARKET REGIONAL INSIGHTS
"Asia Pacific Leads the Market with Thriving Food Processing Industry"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
The Asia Pacific region has been dominant in the industrial food extruder market share for many reasons. The primary one is the outstanding development of food processing due to the rapid urbanization, the change of consumer lifestyles, and the increase of incomes. The emerging markets of China, India, and Japan are ones which are establishing not only significant growth but also demand for processed food products. As a result, this represents a huge market opportunity for industrial food extruders. Also, the policy driven environment with supportive measures of government and plans for industry development in the agricultural field helps the region build its supremacy in the industrial food processing market. With lots of economic development and urbanization in the Asia-Pacific region, and its growing trend, Asia-Pacific countries will still dominate among all regions in the near future.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The main industrial companies for the food extruders are the ones behind the trends in the market and they are influencing the market. Top industry players, for instance, are those globally recognized for very diversified product portfolios, disruptive technologies, and wide presence on the covered market. These leading companies are spending vast amounts of money on research and development to bring out latest extrusion solutions that work in line with changing people's preference and prevailing trends on the market. The focus on engineering and optimizing operating protocols allows them to develop custom-made extrusion systems adjusted to the specifications of the foods producing enterprises of varieties of industries.
List of Market Players Profiled
- Baker Perkins (UK)
- Coperion (Germany)
- Bühler (Switzerland)
- AKRON TOOL & DIE (US)
- Groupe Legris Industries (Belgium)
- Pavan (Italy)
- Flexicon (US)
- Triott (Netherlands)
- The Bonnot (US)
- AMERICAN EXTRUSION (US)
INDUSTRIAL DEVELOPMENT
July 2022: One recent innovation in the market is the emergence of Integration of Advanced Process Control Systems. These systems employ sensors, data analytics, and machine learning to optimize processing parameters, real time monitoring, & recipe development & automation.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 55390 Million in 2022 |
Market Size Value By |
US$ 70200 Million by 2028 |
Growth Rate |
CAGR of 4% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the industrial food extruder market expected to touch by 2028?
The industrial food extruder market is expected to reach USD 70200 million by 2028.
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What CAGR is the industrial food extruder market expected to exhibit by 2028?
The industrial food extruder market is expected to exhibit a CAGR of 4% by 2028.
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Which are the driving factors of the industrial food extruder market?
Versatility in Product Innovation, and Demand for Healthy Snacking are some of the driving factors of the industrial food extruder market.
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What are the industrial food extruder market segments?
The industrial food extruder market segmentation that you should be aware of include: Based on type the market is classified as Single Crew, & Twin Crew. Based on application the market is classified as Savory Snacks, Breakfast Cereals, Functional Ingredients, & Others.