The global pretzel market size is projected to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing consumption of pretzel in emerging economies.
Pretzel, a baked pastry, is made from dough usually in the shape of knot. A consumer has variety of pretzel choices, which distinguishes in shapes, flavors, and sizes. The traditional pretzel shape is symmetrically form, with a long dough roll intertwined in the end and then twisted back into shape.
Pretzel founded in Germany is originally a snack-food. It is sprinkled with salt and can be topped with sesame seed, poppy seed, or even cheese. The key to success of the market was the introduction of the new mass production methods, which increased the availability and quantity, opening up of multiple joints for distribution at convenience and grocery stores, and entertainment venues such as movie theaters and sport stadiums.
The COVID-19 pandemic had resulted in the supply chain disruption, which led to the delay in the production of pretzels. However, the relaxation in restrictions due to opening of entertainment centers and food outlets is expected to positively influence the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Changing lifestyle is expected to propel the market growth.
- Increasing preference for snacks among young population is anticipated to foster the growth of the market.
- Increasing competition with other healthy snacks can impede the market growth.
- Fluctuation in raw material prices can create challenges to the growth of the market.
- Growing investment in marketing to establish pretzel a global icon snack can creative lucrative opportunities for the market.
Key Players
- Pretzels Inc.
- Mr. Pretzels
- Campbell’s Soup Company
- PepsiCo Inc.
- Focus Brand
Competitive Landscape
Key players competing in the pretzels market are Pretzels Inc.; Mr. Pretzels; Campbell’s Soup Company; PepsiCo Inc.; and Focus Brands.
In March 2021, Pretzels Inc. introduced Almond Butter Filling to expand its product’s portfolio.
In October 2018, Pretzel Inc., a leading supplier of pretzels and extruded snack products, acquired an affiliate of Peak Rock Capital, a leading middle-market private equity firm.
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