New York, US, May 25, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Cookies Market Information by Type, Packaging, Distribution Channel, and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 45.40 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 5.55% during the review timeframe.
Market Synopsis
Once considered to be an indulgence and luxury for customers, the cookie market has now become an intrinsic part of the biscuit industry. Cookies are flat-baked treats that are consumed as snacks on any occasion.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 45.40 Billion |
| CAGR | (2022-2030): 5.55% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Packaging, And Distribution Channel |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Government support to set up manufacturing plants and factors such as Agro-climatic zones are fueling the market growth in APAC countries. |
| Growth in the number of cafés has boosted the cookie market |
Market Competitive Landscape:
The renowned firms active in the cookies market include:
- Mondelez International
- Britannia Industries
- Jiashili Group Limited
- Nestlé SA
- Burton's Biscuit Company
- Lotus Bakeries NV
- Leibniz-Keks
- Kellogg Co
- Kraft Foods
- Mars Inc.
- United Biscuits
- Want Want Group
Market USP Covered:
Market Drivers:
Mounting product popularity, particularly in developing regions, can favor the cookies market growth. Moreover, a high preference for chocolate cookies in a number of developed nations like Germany, the U.K., and the U.S., will further boost the market size. The majority of the cookie manufacturers are focusing on attracting consumers with creative packaging solutions and introducing new flavor variants, including pineapple.
Surging disposable incomes of the consumers in emerging nations like China and India can drive the product demand. Cookies’ popularity as a gifting option can also be favorable. Digestive ingredients and oats are majorly integrated into cookies. Some of the cookies are high on energy and gluten-free. Moreover, new cookies with exotic add-ons are being launched in the market, in line with the constantly evolving consumer demands.
Cookies developed using the shortened baking process are usually fat-free and contain high levels of protein. Heightened concerns about lactose intolerance and glutamic disorders in developed countries across Europe and North America will foster the preference for gluten-free cookies. Favorable regulations aimed at ensuring organic labeling in the beverage and food sector for finished goods compels the manufacturers to enhance the label standards. These factors will most likely leave a tremendous impact on the global market.
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Market Restraints:
The rising costs of raw materials and the subsequent increase in the price of the end products could hamper the market growth. Another factor restraining the market growth can be the fact that a lot of people with health issues and concerns prefer not to opt for cookies.
COVID 19 Analysis
While the COVID-19 outbreak has hurt several aspects of the global economy, it has been quite beneficial for the worldwide cookies market. The cookies market size has more than doubled since the outbreak, considering the booming online sales. This has proven to be an incredible business opportunity for the cookie manufacturers, who are trying to understand the online buyers, while retailers are striving to bolster the availability of their products across brick and mortar, offline outlets.
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Market Segmentation
By Type
Molded Cookies, Rolled Cookies, Bar Cookies, and others are the key types of cookies available in the worldwide market. Bar cookies segment could generate the highest revenues in the coming years, given their mounting popularity owing to the numerous health benefits, including improvement in the blood circulation as well as the functioning of the heart health.
By Packaging
Packaging-based segments covered in the study are flexible, rigid, and more.
By Distribution Channel
Non-store-based and store-based are the top distribution channels considered in the MRFR report. Offline channels can expect to be the ruling segment in the next few years, given the significant visibility of hypermarkets/supermarkets as well as convenience stores as major selling channels. These are especially gaining traction in emerging economies such as China and India.
Having said that, online channels can anticipate gaining momentum at the fastest pace over the review period, thanks to the surging prominence of e-commerce portals. Additionally, the soaring number of smartphone users in line with the emergence of numerous internet applications by brands like Oppo, Xiaomi, Apple and Nokia could mean higher demand for online channels.
Regional Insights
The Asia Pacific market will remain in the lead all through the given period, with China, Japan, Indonesia and India standing at the vanguard. A sentiment prevalent in the region among consumers is the willingness to try and explore more flavors while embracing multi-sensory and novelty experiences when it comes to food. This includes adding glitter and flavors to cocktails or desserts, such as cookies, to snack on. The region is at the forefront of encouraging the health benefits of cookies, working on balancing function with decadence. For health-conscious consumers, the majority of the cookie brands are highlighting their organic, and natural ingredients to not only satisfy but also maintain a healthy edge.
In a similar vein, a mounting number of Americans are opting for healthier alternatives in terms of food, thanks to the soaring concerns regarding poor diet, obesity, and various health issues. This factor has raised the popularity of the healthy cookies segment in the region, especially in the United States. Major brands are introducing cookies with natural ingredients, including low-calorie sweeteners, whole wheat, grain, etc., to bolster their appeal among consumers. The emerging “gluten-free” options, coupled with the higher unit price, will offer more fillip to the cookie sales in the years to come.
Europe is the 3rd top gainer in the worldwide market, headed primarily by Germany and the U.K. Surging consumption of sandwich cookies, especially among the working-class populace and the availability of appealing flavors like chocolate, peanut butter, and buttercream will favor the European market.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
