Pretzel Market size is set to grow by USD 1.59 bn from 2024-2028, evolving taste preferences of consumers to boost the market growth, Technavio

NEW YORK, May 15, 2024 /PRNewswire/ -- The global pretzel market  size is estimated to grow by USD 1.59 bn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.74%  during the forecast period. 

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Key Market Trends Fueling Growth

In the dynamic pretzel market, packaging plays a pivotal role in brand creation and consumer perception. Effective packaging protects products, enhances shelf presence, and extends product life. Manufacturers prioritize portion control, focusing on cholesterol-free, gluten-free, and healthier pretzel options. E-commerce platforms and convenience stores stock various sizes and flavors, catering to regional preferences and on-the-go snacking needs. Ingredients, such as whole-grain, low-sodium, and gluten-free, contribute to healthier pretzel alternatives. Snack production adheres to consumer preferences for salty, portable snacks, with various chip and cracker options, veggie sticks, and pretzel production methods. Retailers offer a wide range of snack sizes and flavors to meet diverse consumer demands. 

Market Challenges

* Raw materials for pretzel production include flour, yeast, leavening agents, and shortening.
* Manufacturers aim to control raw material costs due to their significance in production.
* The gap between demand and supply has led to a substantial increase in raw material prices.
* Increased raw material costs result in higher manufacturing expenses and decreased profit margins for vendors.
* Competition in the market compels manufacturers to explore cheaper substitutes for raw materials.
* Suppliers hold the power to set competitive prices for raw materials.
* The cost of pretzel production is influenced by the price and availability of sugar, a major raw material used for growing and fermenting yeast.
* External factors such as weather conditions can impact the production of raw materials.
* For instance, in February 2020, the US experienced a sugar shortage due to bad weather in the Midwest, freezing temperatures in Louisiana, and drought in Mexico.
* Fluctuations in raw material prices are anticipated to impede market growth during the forecast period.

Keywords: raw materials, pretzels, manufacturing costs, profit margins, competition, substitutes, suppliers, sugar, weather conditions, market growth.

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Segment Overview 

This pretzel market report extensively covers market segmentation by

1. Type 
• 1.1 Salted
• 1.2 Unsalted
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Salted-  The pretzel market caters to diverse consumer preferences, with the retail sector and online platforms being significant distribution channels. Consumers show a strong affinity for various flavors and variations of pretzels, extending beyond the traditional savory, salty offerings. Western cuisines and evolving lifestyles have fueled the snacking trend, leading to the popularity of premium and gourmet snacks. Organic food products, free from artificial preservatives and additives, are gaining traction in the market. Manufacturers like Old Dutch Foods innovate with low calorie snacks, cholesterol-free variants, and gluten-free options to cater to health-conscious consumers. E-commerce platforms enable easy access to a wide range of healthy snacking items, including pretzels, which are often preferred as portable, on-the-go snacks. Regional preferences influence the production of regional and healthier pretzel options, such as whole-grain, low-sodium, and gluten-free alternatives. Snack alternatives like chips, crackers, and veggie sticks face competition from pretzels due to their unique combination of taste, texture, and convenience. The pretzel market continues to evolve, offering consumers a wide array of choices to meet their diverse snacking needs and preferences.

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Research Analysis

The pretzel market encompasses a wide range of salty snacks, with dough being the fundamental ingredient. Twisted, baked pretzels have gained significant popularity as a beloved street food. Their soft exteriors offer a delightful contrast to their crunchy texture. Toppings such as mustard and cheese further enhance their appeal. Pretzel sticks and bites are common variations, while pretzel dogs, rolls, sandwiches, twists, knots, and braids add diversity to the market. These pretzel products cater to various consumer preferences and occasions.

Market Research Overview

The Pretzel Market encompasses the production, supply, and consumption of pretzels worldwide. These savory snacks, made from dough twisted into various shapes and then baked to a golden brown, have gained significant popularity due to their unique taste and versatility. The market caters to various segments, including supermarkets, convenience stores, foodservice outlets, and online retailers. Consumers enjoy pretzels as standalone snacks or as accompaniments to dips, spreads, and beverages. The market is driven by factors such as increasing consumer preference for convenient and tasty snacks, growing health consciousness, and the expanding foodservice industry. Additionally, innovation in flavors and product offerings continues to fuel market growth.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Salted
• Unsalted
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio