Cookies are a very well-liked snack food all over the world, since they give the consumer essential nutritional nutrients like lipids, vitamins, minerals, and other ingredients. With the development of various styles and designs, as well as appealing packaging of cookies by various players, the global market for cookies is anticipated to grow. The variety of flavours in cookies, including oat, raisins, almonds, chocolate, etc., is driving up demand for them. People now prefer to eat cookies as snacks due to their growing health benefits. The fresh baked cookies are sold at bakeries and the factory-made cookies are sold at convenience stores and the sales mediums. The availability of a wide variety of cookies as a snack for consumers is one the major driving factors for the cookie market. It is a ready-to-use product and can be consumed at any time during the day. It is also available in different flavors, sizes, prices, or quantities and with attractive packaging which makes it convenient to store and carry.
According to the report titled, “Global Cookies Market Outlook, 2027”, published by Actual Market research, the market was valued at more than USD 35 Billion in 2021 and it is anticipated to grow with a CAGR of more than 5% from 2022 to 2027. The global cookie market has seen significant change as a result of product advancements mostly motivated by safety and fitness concerns. For the purpose of expanding their target market in the worldwide cookie market, cookie producers are experimenting with fresh flavours, appealing containers, and safer ingredients. Over the coming years, rising disposable income in emerging economies like China and India is expected to fuel product demand. The appeal of the product as a giving option is also anticipated to increase demand. As the lifestyle of people is becoming fast, people are demanding food products which are mostly ready-to-eat, as it saves them time. Also, with the growth of the bakery market, the cookie market is also growing along with it, as it’s a part of the bakery market.
According to the report, global cookie market is segmented into various regions including North America, Europe, Asia Pacific, South America and Middle East & Africa. The Asia Pacific region is forecasted to have the highest CAGR in the forecasted period among all the regions, and also gaining the market shares in the forecasted period. The region which is dominating the cookie market currently is North America with higher market share followed by Europe. The demand for innovative cookie products is consistently rising in developed countries like the United States, the United Kingdom, France, etc. Due to various health and wellness concerns, innovations are transforming market dynamics worldwide. Consumer interest in cookies has grown due to increased product offerings from vendors, including new flavours, safe ingredients, and attractive packaging. Customers are increasingly rejecting items that appear or taste artificial, so businesses should advertise their use of genuine components. Consumer’s desire delectable products with unique flavours and combinations, and cookie makers seem to have understood the concept and executed it flawlessly. Leading manufacturers attempt to improve their long-standing, well-known core items, resulting in higher market growth and creative cookie offerings.
In North America, the main reason for the rise in consumption of these new and unprocessed products is the increasing awareness of the transparency of the ingredients used in these products, which is boosting the market across the region. Also, the increased number of people working from home during the lockdown is one factor impacting the growing demand for cookies as people stock up on staple goods such as cookies and biscuits as they incorporate cookies into different parts of the day, such as dessert, as a reward, as a healthy treat after the workout, and for various occasions. Even though the US market is on the verge of saturation, vendors continue to increase visibility through sustained marketing initiatives. Its continued growth is due to the numerous product offerings launched by the many vendors in the market.
The bakery market has been divided into the following parts as per the product segment, i.e. Bar Cookies, Sandwich Cookies, Molded Cookies, Pressed Cookies, Rolled Cookies and Others Cookies (Drop Cookies, No-bake Cookies, Refrigerator Cookies, Ice Box Cookies, etc.). The ways of preparation of different cookie products are different and are shaped in different forms, which give them a different taste and appearance. The product which is dominating the cookies market is Bar Cookie with more than 30% of the market share of the total cookies market.
Cookies have a high nutritional profile, including fats, fibers, and carbohydrates. This makes them a highly preferred breakfast meal consumed in Europe. There is a rising consumer demand for products containing no genetically modified and natural ingredients owing to growing awareness regarding health and safety concerns. In addition to improving lifestyles, the popularization of easy purchases through online shopping, among other new methods of sales, is keeping the sector alive. Moreover, the cookie producers have effortlessly storable products on the shelf for e-commerce; thus, the increasing number of online retailers is boosting the cookie manufacturers' business. Moreover, the low-cost local manufacturers are improving and expanding their production capacities. Innovative packaging, new tastes, flavors, and shapes, and rising health consciousness among consumers are the major drivers of the market. Also, growing populations, rising disposable income and hectic lifestyles all contribute to the expansion of the European cookie market.
In Asia-Pacific, there is a rising consumer demand for products containing non-genetically modified and natural ingredients owing to growing awareness regarding health and safety concerns. In addition to improving lifestyles, the popularization of easy purchases through online shopping, among other new methods of sales, is keeping the sector alive. Moreover, the cookie producers have effortlessly storable products on the shelf for e-commerce; thus, the increasing number of online retailers is boosting the cookie manufacturers' business. Moreover, the low-cost local manufacturers are improving and expanding their production capacities. On the other hand, the market for cookies in South America is primarily driven by their accessibility, convenience, and nutritional value. Additionally, this tendency has been boosting the ongoing expansion of bakery products due to urbanization, the global rise in the working population, the rise in consumption outside the home, and rising need for quick and healthy foods. In order to satisfy this desire and keep customers loyal, producers have introduced organic baked goods, healthier breakfast foods, and "free-from" products. Indulgent categories including cake, pastries, croissants, and other sweet treats are moving from artisanal to industrial goods in the region. During the predicted period, this trend is anticipated to get stronger.
There are various types of packing done in the cookies market. According to the report the packing which is considered are flexible packing, rigid packing and other packing. As per the distribution channel, the cookies market has been bifurcated into five types, which are supermarket & hypermarket, convenience store, speciality store, e-commerce/online and others. Among all these distribution channels, supermarkets & hypermarkets are dominating the cookies market with more than 45% of the total market currently. As it is used as a ready-to-eat food product and is purchased when needed, the most convenient mode of distribution channel for it is specialty stores and retailers, where different types of cookies can also be available.
In Middle East & Africa, the cookie market's demand is driven by the demand for convenience and go-to snacks. Frequent product launches with new ingredients and tasty flavours to match changing consumer preferences are enabling the sale of sweet cookies in the Middle East and Africa. With a focus on new product development and marketing communications, the companies are also engaging in various in-store promotions. These in-store promotions are likely to center on money-off promotions, such as extra-value packs or buy one, get one free. Moreover, the expanding popularity of clean-label snack foods is promoting product innovation in the industry. Key brands are using plant-based ingredients in sweet cookies and cookies to tap into a vegan consumer base. For instance, in January 2022, the United Arab Emirates vegan brand Kind Life launched new Pecan Pie Cookie Dough Bites. The brand is known for its delicious and guilt-free vegan cookies. Further, the sweet cookie varieties with labels such as gluten-free, preservative-free, and non-GMO are anticipated to gain significant demand during the forecast period.
Recent Developments:
• In February 2021, Nestle SA has launched new Milkybar Cookies that offers a tasty twist and a creamier filling that immediately melts in the mouth. The cookie is available in two sizes and the bags are filled to the brim with smooth white chocolate bites.
• In January 2020, Mondelez International, Inc has launched Cadbury Chocobakes cookies to deliver a unique and delightful experience for young customers and to empower consumers by providing them with more choices and innovative eating experiences.
• In April 2019, Kellogg Company has entered into a partnership with the Ferrero Group and its related companies to sell selected cookies, pie crusts, and ice cream cones to reshape the portfolio to reduce the complexity, and focus on more targeted investment.
Covid-19 Impacts:
The COVID-19 epidemic had no effect on the worldwide cookie market because cookies were still one of the most popular foods everywhere. Additionally, buyers stacking long-lasting goods like cookies and biscuits reduced the amount of available goods on the market. Nevertheless, the demand for various kinds of cookies was driven by consumers who preferred quick and healthful snack options. Online sales have been adopted more quickly as a result of the COVID-19, and they will continue to be a growth channel for this category throughout the course of the projected year.
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