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Increasing technological development in equipment are likely to increase the market growth of the Snack Pellet Equipment Market report.

HYDERABAD, TELANGANA, INDIA, November 22, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Snack Pellet Equipment market size is forecast to reach $1.7 billion by 2026, growing at a CAGR of 5.5% during the forecast period 2021-2026. Snack pellets are ready-to-eat food products. The majority of customers prefer them because they have a longer shelf life, are more stable, and have a higher bulk density. Snack pellets are manufactured from a variety of grains and cereals such as maize, wheat, rice, tapioca, potatoes, and other vegetables. It is semi-finished items that are offered to snack manufacturers. They cook it in various ways, such as frying, hot air baking, and so on by adding different ingredients. There are various equipment used for preparing snack pellet such as twin Screw Extruder, seasoning, frying, drying and many others. Increasing consumption of convenience food products coupled with growing demand for extruded snacks are the major factors driving the growth of the market. Changing lifestyle of the people coupled with increasing disposable income is set to further enhance the overall market development of the Snack Pellet Equipment Market for the period 2021-2026.

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Key takeaways:

This IndustryARC report on the Snack Pellet Equipment Market highlights the following areas -

1. Asia-Pacific dominated the Snack Pellet Equipment Market in 2020 owing to changing eating habits of the people coupled with rising consumption of convenience food products. The Snack Pellet Equipment Market scope for different regions will be provided in the final report.

2. Increasing technological development in equipment are likely to increase the market growth of the Snack Pellet Equipment Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Snack Pellet Equipment Market report.

3. High price of Equipment is poised to create the hurdles for the Snack Pellet Equipment Market.

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Segmental Analysis:

Snack Pellet Equipment Market Segment Analysis – By Equipment Type : Extrusion held the largest share in the Snack Pellet Equipment Market in 2020 and is estimated to grow at a CAGR 6.0% during the forecast period 2021-2026.

Snack Pellet Equipment Market Segment Analysis – By Product Type : Multigrain Based held the largest share in the Snack Pellet Equipment Market in 2020 and is estimated to grow at a CAGR 6.2% during the forecast period 2021-2026.

Snack Pellet Equipment Market Segment Analysis – By Geography : Asia-Pacific dominated the Snack Pellet Equipment Market with a major share of 37.8% in 2020. This is owing to rising awareness about health advantages of snack pellet in this region.

Competitive Landscape:

The top 5 players in the Snack Pellet Equipment Industry are -

1. GEA group
2. Tsung Hsing Food Machinery Co., Ltd.
3. AC Horn Manufacturing
4. Grace Food Processing & Packaging Machinery
5. Kiremko B.V.

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