Global Cookies Market - 2022-2029
発行: DataM Intelligence
ページ情報: 英文 170 Pages
Cookies market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 5.1% during the forecast period (2022-2029).
A cookie is a type of small, flattened cake that usually has a crispier consistency than cake and is baked in batches on a large flat pan. The most basic type of cookie dough is prepared with various ingredients such as chocolate chips, dried fruit, or nuts. Cookies are popular as snacks or desserts. The various types of cookies are often classified by their shape, an ingredient, or the method used to shape them. The demand for cookies is on the rise with the introduction of different flavors, such as oat, raisins, peanuts, chocolate, and ginger among others. Growing product popularity, especially in emerging regions, is expected to be the key factor fueling the market growth.
The rising number of tea and coffee shops fuels the market growth
The rising number of tea and coffee shops fuels the demand for cookies and is a key driver for the growth of the cookie market. According to the FAO, the global tea industry has seen rapid growth, with a growing number of consumers globally and in many national markets. For 2016, FAO pegged global tea production at 5.73 million tonnes. Production continues to be dominated by a handful of countries comprising China (43 percent), India (22 percent), Kenya (8 percent), Sri Lanka (5 percent) and Turkey (5 percent). This production of tea statistics leads to propel the cookies market growth. In addition, the increasing number of consumers is shifting toward healthier alternatives regarding food consumption due to the growing concerns over obesity, poor diet, and other health issues. These health factors continue to support the growth of the cookies market during the forecast period globally.
However, increasing demand for snacks other than cookies, such as chips, and fruits among others, hinders the growth of the cookies market. In addition, the manufacturing of cookies requires high input costs, which ultimately results in the high cost of the end product. The high-cost product is a major issue in the undeveloped countries, which is anticipated to restrict the market growth.
Bar cookies segment accounted for the highest share in global cookies market
In 2021, the bar cookies segment had the highest revenue share of more than XX percent. The rising popularity of these products due to their various health benefits, such as improving the blood circulation and functioning of heart health, is the key factor driving the segment. For example, Granola Bars in India are gradually becoming very popular, especially among working professionals, hikers and anyone looking for a quick energy-pick-me-up. Granola bar is filled to the brim with vitamins and minerals. It is loaded with just the right amount of sugar with a low fat and low-calorie percentage to help stay energized through the day without worrying about the weight.
In 2021, the rigid packaging segment had the highest revenue share of more than XX percent. Rigid packaging offers structure and support for products and is known for its strength. Increasing government regulations to ban single-use plastic limits the growth of the flexible packaging style of the cookies. The rigid packaging style for cookie products is expected to grow faster due to the increasing use of plastic-free materials, papers, cardboards and other raw materials during the manufacturing of rigid packaging.
Europe is the dominating region during the forecast period
In 2021, Europe had the highest revenue share of almost XX percent. The region has the largest share in the bulk volume of production and exports confectionary items to other countries. According to the Caobisco association, the European sector represents 12,708 companies producing 11.7 million tons of confectionery products. In addition, rising concerns over glutamate disorders and lactose intolerance in developed countries of the European region are boosting the demand for gluten-free cookies. In the Asia Pacific, the demand for cookies is expected to grow during the forecast period owing to the region's increasing confectionary market.
The global cookies industry is competitive and comprises players such as Kellogs Co., Britannia Industries Ltd., Nestle S.A., Parle Products Pvt. Ltd., Campbell Soup Company, Pepsico. Inc., Mondelez International, Inc., Danone S.A., United Biscuits (U.K.) Ltd, Patanjali Ayurved Limited, and ITC Ltd., among others. The Cookies market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as different flavors of product innovation for various applications. Moreover, key players widely utilize public relations, Corporate Social Responsibility activities, and online marketing as a marketing method to increase brand awareness and attract customers. These companies largely promote cookies as a health benefit and nutritious food that fuels the demand for the cookies market. For example, Kellogg's co. Europe's number one cereal brand Krave launched a new flavor, Cookies and Cream Flavor, in May 2022. The new cereal has a crisp outer cookie-inspired layer with a velvety cream-flavored center, sure to delight taste buds with each bite. In January 2020, Nestle USA launched two new varieties: Funfetti and brownie batter. The new flavors join the line's existing chocolate chip and peanut butter chocolate chip monster varieties. This expanded collection of edible cookie doughs provides even more ways to create fun, lasting memories while snacking on favorite treats.
Negative impact on the global cookies market
The COVID-19 pandemic caused the manufacturing plants shut down and low manpower, which reduced the cookies production. In some other countries, cookie manufacturing companies are exempted from the lockdown restrictions. Still, the unavailability of raw materials leads to a production shortage during the pandemic. The import and export ban imposed in several countries led to the disruption of the supply chain market. The domestic supply chain disruption caused due to the transportation restrictions and shutdown of distribution channels impacted the sales and revenue of the cookies market. Supermarkets and retail stores faced a shortage of the product due to initial panic buying and later due to the shutdown.
The global cookies market report would provide an access to approximately 61 market data tables, 55 figures and 170 pages
Scope and Methodology