(Entertainment-NewsWire.com, July 09, 2019 ) According to the latest report by IMARC Group, titled “Global Pretzel Market Research Report and Forecast 2019-2024”, the global pretzel market size is growing at a stable rate. A pretzel is a baked snack which is characterized by a twisted-knot shape. It is usually prepared using wheat flour dough along with other ingredients including yeast, sugar, salt, vegetable oil, corn starch and water. It is widely available in the market in hard and soft varieties with a shiny, brown outer surface. Salt is the most common seasoning on pretzels, while other seasonings include cheese, sugar, chocolates and nuts. These snacks are gaining popularity among consumers as they are relatively lower in calories as compared to potato-based snacks. Consequently, they have emerged as a preferred snacking option in many countries across the globe.
Busy schedule in today’s globalized world has created a high dependency on convenience foods including pretzels. Furthermore, owing to growing health-consciousness among consumers across the globe, manufacturers are launching cholesterol- and gluten-free variants of pretzels containing non-GMO whole grain flour. Additionally, the introduction of a variety of exotic flavors including mocha, banana, garlic, barbecue, honey mustard, and bacon and cheddar caters to the diversified tastes of consumers, thus boosting the product sales. Furthermore, the distribution of these snacks through online retail channels has provided a thrust to the market since these channels offer enhanced convenience and better price points for a vast range of products. Other factors influencing the product demand include rising disposable incomes and rapid urbanization. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 2% during 2019-2024.
Based on the distribution channel, supermarkets and hypermarkets represent the dominant market segment. Other major segments include convenience stores, specialist retailers, online retailers and others.
Market Breakup by Region:
1. Europe 2. North America 3. Asia Pacific 4. Middle East and Africa 5. Latin America
On the geographical front, North America holds the leading position in the market. Other key regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market. These include Johnson Auntie Anne's, Boulder Brands, ConAgra Foods, Frito-Lay, Herr Foods, Intersnack, J & J Snacks, Mars, Mr. Pretzel, Old Dutch Foods, Philly Pretzel Factory and Pretzels Inc.
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