According to a report available on Radiant Insights, Inc the worldwide pretzel market is expected to accumulate lucrative revenue by 2021. It is anticipated to exhibit a significant CAGR over the forecast period (2011 to 2021). Surging demand for convenience foods triggered by hectic lifestyles is the key market driver. High disposable incomes and preference for healthy snacks are projected to further support the market growth.
Pretzels are baked products that are primarily made using flour dough. Available in a variety of shapes & sizes, pretzels are covered with glazes, seeds, and nuts for varied flavors & textures. Pretzels are the most-preferred snacks after chips. They are expected to cater to the growing demand for healthy snacks. They have less trans fats and calorie count than potato chips. Catholics prefer these snacks during Lent, when dairy and eggs are prohibited.
Food manufacturers adopt creative and unique packaging styles to attract more consumers. This can play crucial role in driving pretzel market over the forecast period. Production of gluten-free pretzels is aimed at health enthusiasts and patients of celiac disease. Recently, Snyder’s-Lance tapped into this trend by offering pretzel sticks in brand new flavors. Companies are launching limited edition snacks that are aimed at different festivities. Hard and soft pretzels are the two major types of pretzels. Recently, J&J Snack Foods introduced three new flavors to cater to the growing consumer demand.
Browse the Full Global Pretzel Market - Global Scenario, Industry Outlook, Share, and Industry analysis, Size, Trends and Forecast, 2011 To 2021 Report at - http://www.radiantinsights.com/research/global-pretzel-2021
The global pretzel market is segmented on the basis of products, end-users, and regions. As per products, the segments are ordinary, gift packed, and others. Pretzels, Inc.; a United States based snacks company has created innovative packaging for its pretzel rods. This packaging is inspired from jerky manufacturers. Social media encourages companies to showcase their designs and generate an instant connect with the consumers. Private label manufacturers produce pretzels on a large scale and sell them at a lower rate. This can give them an advantage in this budding marketplace during the forecast period.
According to end-users, the market is divided into online stores, supermarkets, mini markets, and others. Supermarkets led the global market with more than 60% share in 2016. Demand for ready-to-eat products as well as their innovative packaging can boost the expansion in the near future. In addition, availability of assortment of pretzels is expected to further support market growth in the forthcoming years.
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On the basis of regions, the pretzel market is fragmented into India, Japan, China, Southeast Asia, North America, and Europe. North America and Europe may continue leading the global market over the forecast period. China and India have the potential to register substantial demand till 2022. High disposable income can drive this regional growth.
Notable players operating in the worldwide pretzel market include Snyder's-Lance, Inc.; Conagra Brands Inc.; PepsiCo, Inc.; Auntie Anne's LLC; and Intersnack. Snyder’s-Lance was one of the biggest manufacturers in 2015. It generated over USD 400 million in the same year. High demand for pretzel poppers in the healthy snacks category is one the key demand drivers. Pretzel production has faced bottlenecks with the launch of peanut-based pretzels. However, production of peanut-free pretzels can counter this challenge.
Read more related reports by Radiant Insights:
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