Cookies Market Size Scenario
High demand for convenience food is a prime factor driving the growth of the cookies market. This trend is mainly caused by increasingly busy lifestyle. Cookies allow consumers to save time on meal preparation and provides the convenience of on-the-go foods. Availability of cookies in different forms such as low-sugar cookies, cookies with high fiber content, and breakfast biscuits has spurred the demand for cookies. In addition to the growing popularity of cookies, a rise in disposable income has resulted in the sale of premium cookies as consumers are more willing to pay for more functional food products.
Consumers are striving to improve their diet and snacks are no exception. Driven by the trend of healthy food consumption, the majority of the cookies manufacturers are entering the healthy snacking space. Cookies product launches with functional claims have witnessed a steady increase which is expected to boost the growth of the market over the forecast period.
Improvement in the distribution channel, the establishment of new distribution network, and optimization of cost efficiency facilitate manufacturers to offer significant lucrative discounts which attract more demand within the global cookies market share.
Varianting with newer flavors and ingredients along with novel product launches by manufacturers is likely to drive the cookies market growth incrementally. Gluten-free cookies have also garnered much traction among consumers which is expected to generate additional demand within the global cookies market. Increase in exports of cookies is also favoring the growth of the market. The U.K, the Netherlands, Germany, Belgium, Mexico, and Canada are among the major exporters of cookies.
In contrast, the price of cookies is subject to fluctuations in input prices such as wheat, sugar, and cocoa which might undermine the growth of the market over the forecast period.
Competitive Landscape
The eminent players in the global cookies market include Britannia Industries, Jiashili Group Limited, United Biscuits, Kraft Foods, Mars Inc., Kellogg Co, Want Want Group, Nestlé SA,
Lotus Bakeries NV, Burton's Biscuit Company, Mondelēz International, and Leibniz-Keks.
Segmentation
The global cookies market revenue has been segmented based on type, packaging, and distribution channel.
By type, the global cookies market analysis has been segmented into bar cookies, molded cookies, rolled cookies, and others. Bar cookies are highly popular and the segment is expected to expand rapidly due to high demand for fresh cookies.
By packaging, the global low calories cookies market has been segmented into rigid packaging, flexible packaging, and others. The rigid packaging segment is expected to showcase substantial growth over the forecast period. They are used in the packaging of exotic cookies which is expected to witness a surge in demand in the coming years.
By distribution channel, the global cookies market has been segmented into store-based and non-store based distribution channel.
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Regional Analysis
By region, the global cookies market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW).
APAC is domineering the global cookies market share and is likely to retain its position over the forecast period. APAC being an agro-climatic zone along with favorable government policies support manufacturing and other operations in the region which drive the market. Growing disposable income and urbanization are among other driving factors. Australia, China, and India are the key country-specific markets in APAC.
North America is the second largest for cookies market size. High disposable income and high demand for convenience food are creating massive demand for cookies in the region. In addition, the presence of a large number of key players in the region favors market growth. Europe market is driven by the prolific growth of the bakery confectionery industry and high consumption of bakery products in the region.
Industry Updates
January 2019- Burton’s Biscuits Company introduced a new cookie as a part of its sugar-reduction program. The new series of cookies, Maryland Sugar Free Cookies, will contain less than 100 calories.
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