ID: MRFR/F-B & N/8758-HCR | 90 Pages | Published By Snehal Singh on March 2023
Packaged Pretzels Market Size is anticipated to reach USD 2,4.94 Billion by 2030, registering a CAGR of 6.2% during 2022-2030.
Global Packaged Pretzels Market Size is projected to reach USD 2,498.94 Million by 2026, at a CAGR of 3.2% from 2020 to 2026. The demand for packaged pretzels is increasing owing to consumer inclination toward convenience snacking. Nuts, sugar, salt, glazes, seeds, and chocolate are some of the common seasonings for pretzels. Packaged pretzels are hard pretzels that are manufactured with wheat flour, water, yeast, leavening agents, shortening, salt, and sugar. Manufacturers of packaged pretzels are offering innovatively packaged pretzels to stay ahead in the competition. For instance, Pretzels, Inc. offers packaged pretzels with fillings of peanut butter. Also, Mr. Pretzels offers chocolate pretzels, cinnamon pretzels, and sesame seed pretzels. The increasing demand for gluten-free products among consumers across the globe is also creating opportunities for the players, which are offering options of gluten-free pretzels to consumers.
The outbreak of COVID-19 globally has resulted in creating immense pressure across supermarkets & hypermarkets, convenience stores, and food suppliers. This has led to an increased sale of convenience foods such as packaged pretzels as the consumers are involving in pantry stockpiling of shelf-stable foods. The stockpiling practice has led to a sudden hike in the market value of the global packaged pretzels market in 2020, which will normalize with a stable situation from the outbreak. In response to coronavirus pandemic, consumers are put under lockdown with several countries imposing stay-at-home orders. This is rapidly accelerating the transition to e-commerce.
Global Packaged Pretzels Market has witnessed moderate growth in recent years. In recent years, consumers have shifted from traditional three-course meal per day to snacking or multiple small meals throughout the day. The rising number of consumer stores, increasing brand visibility along with changing eating habits among consumers have escalated the demand for packaged pretzels. To cater to the trending consumer needs, market players are focusing on the launch of innovative products such as gluten-free, and novel flavors. Moreover, manufactures have adopted innovative and unique packaging solutions that help to preserve the freshness and shelf life of the product.
Innovations in product flavors
By Distribution Channel
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Shape, Category and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Conagra Brands, Inc. (US), Auntie Anne's, Inc. (US), PepsiCo (US), Herr Foods Inc.(UK), J&J SNACK FOODS CORP (US), Mars, Incorporated (US), Nestle S.A. (Switzerland), Pretzels (US), Pretzels, Inc. (US), Snyder's-Lance, Inc. (US)|
|Key Market Opportunities||Innovations in product flavors|
|Key Market Drivers||
Packaged Pretzels Market size by 2026 can be USD 2,498.94 Million.
Packaged Pretzels Market is presumed to record a growth rate of 3.2% during the assessment period.
The demand for packaged pretzels growing in the market due to increasing owing to consumer inclination toward convenience snacking and the fact that manufacturers are offering innovatively packaged pretzels to gain higher position.
A notable growth restraint in the global Packaged Pretzels Market can be the competition from other snacks.
Twist is the shape-wise segment that has taken the lead in the Packaged Pretzels Market.