Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The global cookies market size is expected to witness a significant boost during he forecast period of 2023-2030, driven by the widespread love and consumption of this popular snack worldwide. This key insight comes from Fortune Business Insights' report titled "Cookies Market Size, Share, Growth and Forecast Report, 2023-2030."
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Leading Players Featured in the Cookies Market Research Report:
- Mondelez International
- Danone S.A.
- United Biscuits
- ITC
- HUL
- Patanjali
- Kellogs Co.
- Britannia Industries Ltd.
- Nestle
- Parle Products Pvt. Ltd.
- The Campbell Soup Company
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Base Year | 2022 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Cookies Market Growth Drivers | Increasing number of tea and coffee shops all over the globe fuels the demand for global cookie market. |
| Increasing consumers demand for other alternative snacks is projected to hinder the growth of the market |
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/cookies-market-102558
Report Coverage:
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for cookies in the near future.
Drivers and Restraints:
Rising Consumer Spending on Bakery Goods to Spur Growth
Since individuals can readily find cookies at their local shops and stores, a wider distribution channel such as retail stores also contribute to the market growth for cookies. By increasing consumer spending on bakery goods as a result of the leading companies' varied branding initiatives, the market for biscuits is made more popular and in demand. Due to the urban population's culture shift toward a preference for breakfast in the morning, the global market for cookies is predicted to expand.
The market for cookies is growing, but competition from other snacks including chips, fruit, and many others is stifling its expansion.
COVID-19 Impacts:
The COVID-19 pandemic first resulted in the temporary closure of manufacturing facilities and a staffing shortage, which decreased cookie production. Manufacturers of cookies were excluded from the lockdown limitations in some nations, but the lack of output was caused by the difficulties in obtaining raw materials due to the least mobility.
The global supply chain for the market was disrupted as a result of the export and import bans enforced in a number of nations.
The transportation restrictions and distribution channel closures that created the domestic supply chain disruption had an effect on the sales and revenue of the market. Owing to initial panic buying and later due to the shutdown, supermarkets and retail establishments had a shortage of the commodity. As the demand for biscuits grew, the supply could not keep up with the demand.
Cookies Market Segmentation:
By Product Type
- Bar Cookies
- Sandwich Cookies
- Molded Cookies
- Pressed Cookies and other
By Packaging
- Rigid Packaging
- Flexible Packaging
By Distribution channel
- Retailer
- Shopping Malls
- Specialty Stores
- Hypermarkets and others
By Geography
- North America
- South America
- Asia Pacific
- Europe
- Africa and the Middle East
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Cookies Market Regional Insights:
Europe to Dominate Backed by Substantial Production of Confectionary Goods
Europe is expected to dominate the cookies market share owing to its significant production and export of confectionery products to other countries. Conversely, the thriving sales in the Brazilian baking industry are projected to drive growth in the Latin American market. For instance, in 2018, the Brazilian baking sector recorded sales of nearly USD 30 billion, as reported by the U.S. Department of Commerce.
Sweets Bakes Asia forecasts a 12% expansion in the Asia Pacific confectionery market between 2015 and 2020. This surge in the confectionery industry is expected to stimulate growth in the Asia Pacific region.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Cookies Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Cookies Key Industry Development:
- January 2020: Nestle launches Edible Funfetti cookie dough brownie batter having all familiar flavors.
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