PACKAGED PRETZELS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The availability of various packaged snack substitutes is posing a notable challenge for the growth of the global packaged pretzels market. There are several alternative snacks available that provide similar snacking experience and nutrition value as pretzels but at a lower price point. Some of the main substitute options include chips, nuts, trail mixes, crackers, cookies and savory granola bars. These products can all be consumed as a convenient snack and provide salt, carbohydrates and fats similar to pretzels. The widespread availability of cheap substitutes is prompting consumers to switch to alternatives instead of pretzels. For example, in the United States where the packaged pretzels market is one of the largest, shelf-stable chips and crackers dominate the savory snacking space. Frito-Lay and PepsiCo that have a stronghold over the chip category spend aggressively on promotions and discounts to keep prices low and further boost demand for their products over pretzels and other snacks. As a result of the price competitiveness and marketing dominance of major chip and cracker players, it has become challenging for pretzel brands to gain significant market share in the country. Moreover, the pandemic has further accelerated the sales of value snacks like multi-pack chips as unemployed and cash-strapped consumers sought affordable daily snacking options.

Market Opportunities: Emerging markets

Emerging markets present significant opportunities for growth in the global packaged pretzels market. These economies are experiencing rapid urbanization and rising disposable incomes. As life becomes busier, packaged snacks that offer portability and convenience are gaining popularity. This shift in lifestyles and eating habits has made packaged pretzels a promising snack category in places like Asia, Latin America, Eastern Europe, Middle East and Africa.