Pretzel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Pretzel Market: Snapshot
Pretzel, a German baked bread and mixture based foodstuff that is in the form of the bent bunch. It is fresh and weak in nature. It is also available in a wide range of shapes and sizes in the market with a variety of external appearances. Coats, chocolates, seeds, and sugars are some of the different seasonings of pretzels. It can be delicate or hard; delicate ones must be eaten soon, while hard ones have a longer life span.
Rising focus on baking in different shapes and by using different grains is driving growth of the pretzel market. Additionally, the manufacturers are trying to improve production per batch due to high demand from buyers. Moreover, its availability globally at movie theaters, concert halls, arenas, street corners, and sports stadiums is another factor driving the growth of the global pretzel market to some extent.
North America to Witness Higher Demand for Pretzel
Regionally, North America is expected to account for the largest share of global pretzel market followed by Europe. Rising demand for the bakery or ready-to-eat products due to busy lifestyles and rising dependency on fast food is boosting the pretzel market in the region. Additionally, rising inclination toward convenient snacks is one of the key factors augmenting the growth of the pretzel market globally. However, the market in the Asia Pacific is expected to expand at a robust CAGR as the adoption of the bakery products in the developing countries. Moreover, the factors such as demand for gluten-free products coupled with rising disposable income in these countries are boosting the market growth.
Auntie Annes, Herr Foods, ConAgra, Mars, Boulder Brands, Pretzels Inc., Frito-Lay, Mr. Pretzel, J & J Snacks, and Snyders-Lance are some of the key players in the global pretzel market. The global pretzel market is predictable to witness aggressive competition owing to the presence of several regional and international players globally.
Global Pretzel Market: Introduction
Pretzel is a mixture based, baked bread food item, which is typically bent bunch formed, fresh, and weak in nature. It is available in a wide scope of shapes and sizes in the market with sparkling external surface appearance. Salt combined with washing soft drink is considered as the most widely recognized flavor for pretzels. Sugars, coats, seeds, chocolate, and nuts are a portion of different seasonings of pretzels. Pretzel can be either delicate or hard, among which delicate ones are eaten soon after planning, while hard ones have longer time span of usability.
Global Pretzel Market: Novel Developments
"This flavor is a malted dessert blended with milk chocolate pretzel balls. It's the ideal sweet and salty treat," the organization reported.
The global pretzel market is likely to witness an aggressive competition due to emergence of several regional and international players across the globe. The key players are competing on the factors for example, taste, quality, cost, and brand name. As a result to survive in the competition, it is of utmost importance that firms should have a distinct offerings in terms of product and services. Besides, in a cut throat competition with respect to price, firms need to work very closely for the marketing of their products to have highest share of global pretzel market.
Some of the most prominent competitors operating in the competitive landscape of global pretzel market include –
Global Pretzel Market Dynamics
Rising Trend to Consume Healthy Snacks Propels Growth in Pretzel Market
The rising spotlight on solid ingredients is one of the essential drivers for market development. Iron, nutrients, folate and other fundamental supplements are added to the flour while preparing pretzels to take into account the interest for more advantageous bites. A portion of the new items additionally contain multigrain flours that are rich in fiber. Besides, pretzels contain next to no fat and in this manner add less calories when contrasted with different tidbits. Sellers are presenting various assortments in pretzels as there is a huge interest for sans gluten and fiber-rich pretzels among purchasers. The inclination towards the utilization of healthy snacks is one of the developing market slants that will probably drive the development of the pretzel market amid the figure time frame.
The rising spotlight on extending creation abilities is another key pattern being seen in the global pretzel market. Makers are focusing on upgrading their generation ability to take into account the expanding request from buyers. For example, Snyder's of Hanover brand offers pretzel minis, sticks, poppers, and sandwiches that are famous among families. To offer without allergen snacks, the organization additionally as of late settled a shelled nut free production center.
North America to Lead Global Pretzel Market in Future
On the basis of geography, in 2016, the North America held the highest share of global pretzel market. The region is expected to sustain its lead in the span of upcoming years too. The increasing number of buyers indulging into busy lifestyles and dependent on fast food, and convenient snacks is among the key factors augmenting the growth of pretzel market across the region. Besides, rising preference towards gluten free food items is also foreseen to support the rising demand in the regional market of North America.
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