The global cookies market size is expected to reach USD 44.01 billion by 2025 with a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Rising product popularity and increasing demand for on-the-go snacks in developed markets including Germany and U.K. are expected to remain key driving factors for the market over the forecast years. Increasing demand for gluten-free cookies as alternatives to conventional counterparts due to rising concerns regarding glutamic disorders is also offering growth opportunities for the global market.
Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
Rapid urbanization along with increasing disposable income levels in emerging economies, such as China and India, is projected to boost the product demand. Innovative marketing strategies undertaken by major companies in the market to lure new customers will also contribute to the market growth. Manufacturers are focusing mainly on product innovations, in terms of flavors, ingredients, packaging, etc. This factor are is also likely to propel the market development in the next few years.
Key manufacturers include The Kellogg Company, Nestlé S.A., PepsiCo, Inc.; Britannia Industries Ltd.; The Campbell Soup Company, Mondelēz International, Inc.; Danone S.A.; and Parle Products Private Limited. Product innovation coupled with the establishment of strategic business partnerships with the distributors located in developing countries like China, India, and Bangladesh is projected to remain a critical success factor over the next eight years. For instance, Nestlé recently launched a new product called Pumpkin Cobbler Cookies. Starbucks and Nestlé closed the deal to provide packaged goods and consumer goods to Starbucks. Furthermore, Britannia is developing healthy low-fat cookies targeting the market of India.
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Further key findings from the study suggest:
Bar product segment led the market in 2018 and is expected to maintain its dominance over the forecast period due to increasing popularity of these product forms
Online channels are expected to account for more than 19.8% of the global share by 2025 due to increasing popularity of e-commerce sites
North America generated a revenue of USD 10.42 billion in 2018. Impulsive purchases by people of all age-groups is projected to remain a favorable factor for the regional market
APAC is expected to account for more than 25% of the total revenue by 2025. Changing lifestyle and rising disposable income in emerging countries are likely to open growth avenues for the market
Key manufacturers include The Kellogg Company, Nestlé S.A., PepsiCo, Inc.; Britannia Industries Ltd.; The Campbell Soup Company, Mondelēz International, Inc.; Danone S.A.; and Parle Products Private Limited
Development of products in chocolate and fruit extract variants is projected to remain one of the key strategies among these manufacturers
The global cookies market size was valued at USD 30.62 billion in 2018 and is projected to expand at a CAGR of 5.3% from 2019 to 2025. Growing product popularity, especially in emerging regions, is expected to be the key factor fueling the market growth. Moreover, high demand for chocolate cookies in developed economies like U.S., Germany, and U.K. will boost the market further. Bakery manufacturers attract customers with innovative packaging solutions and by launching new flavor variants, such as pineapple.
Rising disposable income in emerging economies including China and India is projected to drive the product demand over the years to come. Rising product popularity as gifting option is also projected to boost the demand. Oats and digestive ingredients are the major ingredients in cookies. Certain cookies are gluten-free and high on energy. Now-a-days, new flavors with exotic add-ons are being introduced in the market as per the changing consumer demands.
Cookies prepared by shortened baking process are fat-free and a cohesive product of protein. Rising concerns over glutamic disorders and lactose intolerance in developed countries of North America and Europe are projected to increase the demand for gluten-free cookies. Supportive regulations aimed for ensuring organic labeling in food & beverage industry for the finished goods is forcing the manufacturers to improve label standards. These factors are also likely to have a positive impact on the market growth.
Availability of alternative products, such as chocolates and biscuits, is also projected to pose a substitutional threat to the market. Moreover, high manufacturing costs result in the increased cost of the end products, which may hamper market development. On the other hand, increasing disposable income levels along with innovative strategic marketing techniques used to attract new consumers by key companies is expected to propel the market growth in future.
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Grand View Research has segmented the global cookies market on the basis of product, distribution channel, and region:
Cookies Product Outlook (Revenue, USD Billion, 2015 - 2025)
Bar
Molded
Rolled
Drop
Others
Cookies Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Offline
Online
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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