The market size of the Global Packaged Pretzels Market in the year 2021 is valued at 2.27 billion and is predicted to reach 3.14 billion by the year 2030 at an 3.77% CAGR during the forecast period.
Pretzels are baked appetizers made from dough made of wheat flour. The industry offers these products in a variety of shapes and hues. To give the products a suitable texture and flavour, pretzels are seasoned with salt and lye. The pretzels' flavor is enhanced by the additional seasoning, which includes, among other things, cheese, chocolate, cinnamon, and nuts. Snack-based food consumption is increasing, and this trend can be ascribed to the rising stress levels due to the younger generation's hectic lifestyle. To sate their hunger, customers worldwide are looking for comfort food products like packaged pretzels. Additionally, consumers' eating patterns are steadily changing from the customary three meals per day to a variety of smaller meals throughout the day. This has led to an increase in demand for products made for snacks like pretzels.
Secondly, pretzels are sold in more restaurants and retail stores due to the growing food sector. Moreover, the top producers are introducing a wide range of pretzel tastes, including butter and honey mustard, barbeque, parmesan, and garlic. Additionally, they have created prepared frozen pretzels and frozen pretzel dough. In addition, producers have begun creating all-natural, cholesterol-, trans-, and gluten-free food enriched with vital vitamins and minerals as the number of health-conscious consumers has increased.
Market Segmentation:
The Packaged Pretzels market is segmented based on shape, category and distribution channels. Based on shape, the market is segmented into Twists, Sticks, Minis and Others. Based on the category, Packaged Pretzels are segmented into Conventional and Gluten-Free. Based on distribution channel, the market is segmented into Store-Based (Supermarkets & Hypermarkets, Convenience Stores, Others) and Non-Store-Based.
Based on shape, the twists segment is accounted as a major contributor to the Packaged Pretzels market.
Based on shape, the market is segmented into Twists, Sticks, Minis and Others. Pretzels, in the shape of twists, currently hold the largest market share and are anticipated to continue growing steadily over the next few years. Consumer demand for packaged pretzels in twist shapes is projected to be fueled by the large range of goods offered by different manufacturers.
The gluten-free segment witnessed growth at a rapid rate.
Based on the category, Packaged Pretzels are segmented into Conventional and Gluten-Free. The market for gluten-free pretzels has been stimulated by the rising incidence of celiac disease worldwide and is anticipated to become the largest market shareholder in the following years. The prevalence of diabetes, obesity, and other food intolerance issues is spurring demand for the gluten-free variety of pretzels.
The North America Packaged Pretzels market holds a significant revenue share in the region.
The North America Packaged Pretzels market is expected to register the highest market share in revenue in the near future. It is projected that the customer preference for mid-meal snacks will increase demand for packaged pretzels. Packaged pretzels are also rising due to the expanding food sector and the availability of a huge range of goods from several producers. In addition, Asia Pacific is projected to grow rapidly in the global Packaged Pretzels market due to the emergence of pretzels in various flavors and forms that are healthier by vendors. The demand for pretzels in the APAC region is driven by the product's rising appeal and the customer base's burgeoning hectic lifestyle. Additionally, the region now offers a fresh and diverse range of product brands due to numerous players, particularly private labs.
Competitive Landscape
Some major key players in the Packaged Pretzels market are Snyder's-Lance, Inc., Pretzels Inc, Nestle S.A., Mars, Incorporated, J&J SNACK FOODS CORP, Herr Foods Inc., PepsiCo, Auntie Anne's, Inc, and Conagra Brands, Inc. among others.
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