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Based on product type, the potato-based snack pellets segment held over USD 0.73 billion revenue in 2022. These pellets are known for their crispy texture and are often utilized in the production of various savory and flavored snacks, contributing to their dominant market position. Corn-based snack pellets follow closely, reflecting a substantial market share, owing to their characteristic light and crunchy texture, as well as their ability to serve as a base for a diverse range of snack products such as tortilla chips and cheese puffs.
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Based on form, the laminated segment accounted for 55.05% of the snack pellets market share in 2022. Laminated snack pellets are widely used in the production of multilayered and filled snacks, offering a diverse range of textures and flavors to cater to consumer preferences. Tridimensional snack pellets also account for a significant portion of the market share, known for their three-dimensional shapes and unique textures that enhance the overall snacking experience. These pellets are often utilized in the production of intricately shaped and textured snack products, appealing to consumers seeking visually appealing and novel snack options.
Based on equipment, the market is segmented as Single-Screw Extruders, Twin-Screw Extruders. Single-screw extruders currently hold a significant share in the market, known for their cost-effectiveness and versatility in processing various raw materials into different types of snack pellets. These extruders are widely utilized in the production of a diverse range of snack products, offering manufacturers a practical and efficient solution for producing high-quality snack pellets at a relatively lower cost.
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Asia Pacific snack pellets market size held over USD 0.76 billion in 2022. Asia Pacific, comprising diverse and populous countries such as China, India, and Japan, serves as a key hub for snack pellet production and consumption. The region's robust market share can be attributed to several factors, including the increasing population, rapid urbanization, and changing consumer lifestyles, which have collectively contributed to the growing demand for convenient and ready-to-eat snack products. The expanding middle-class population and rising disposable incomes have led to an increased inclination towards premium and value-added snack products, driving the demand for high-quality and innovative snack pellets in the region.