The snack pellets market size in Latin America was worth USD 782.18 million in 2023. The Latin American market is estimated to be growing at a CAGR of 5.7% from 2024 to 2029 and be valued at USD 1090.8 million by 2029 from USD 826.7 million in 2024.
The Latin American market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rapid development in the food industry. Snack pellets are instant non-expanded food items. These are semi-finished items and are usually processed like frying and hot air baking to turn them into finished and expanded snacks. The snack pellets are present in different textures, shapes, colors and flavors.
The growing demand for instant foods, the increase in health awareness amongst the public, and the rising demand for food items with low energy, saturated fats, and salt, and minimum investment propel the snack pellets market in Latin America.
Prevalence of alternative products and the growth in rates of raw materials in under-developed areas are the constraints to the growth of the Latin American snack pellets market.
The Latin America snack pellets market does not have a huge market share as of 2023 but is expected to show significant growth during the forecast period due to the presence of developing countries like Brazil and Mexico.
Intersnack Group GmBH & Co. KG, J.R. Short Milling Company, Quality Pellets A/S, Balance Foods Inc., Dalmaza Food Industries Co. and Grupo Industrial Michel are some of the noteworthy players in the Latin American snack pellets market.
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