Cookies Market Research Report: By Type (Bar Cookies, Molded Cookies, Rolled Cookies, Others), Packaging (Rigid, Flexible, Others), Distribution Channel (Store Based, Non-Store Based) and Region - Forecast till 2027
New York, United States - January 20, 2022 /MarketersMedia/ —
The global cookies market is an ever-increasing space, expected to register a significant CAGR throughout the forecast period. Convenience in storage and portability has made the cookie a popular “on-the-go” snack among consumers. Its popularity and high demand as a snacking item are some of the key factors driving market growth. Constant innovation in products is shifting the dynamics of the global cookies market.
According to a leading research firm - Market Research Future (MRFR), the global cookies market is projected to accrue voluminously by 2023. In its recently published analysis, MRFR also asserts that the market would register a significant CAGR throughout the forecast period (2018 – 2023). The UK, Netherlands, Germany, Belgium, Mexico, and Canada account for the top five exporters of cookies.
MRFR further confirms that cookie exports are expected to grow by more than 2% per annum, post the year 2023. The market is expected to witness enduring growth witnessing product launches of a variety of flavors, packaging, and types to attract consumers of all age groups. Besides, factors such as rapid urbanization, increased disposable income, and improved lifestyles drive the growth of the market.
Increasing numbers of cafés have boosted the cookies market globally. The proliferation of distribution channels such as supermarkets and malls foster the global cookies market, leading to the enhanced overall visibility of a variety of cookies with different tastes and shapes.
On the other hand, price volatility and demand-supply gap of raw materials required for the production of cookies act as major headwinds impeding the growth of the market. Nevertheless, improving marketing techniques and strategies would support the growth of the market, helping the market to grow exponentially.
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Global Cookies Market – Segments
The report is segmented into four market dynamics to widen the scope of understanding,
By Type : Bar Cookies, Molded Cookies, and Rolled Cookies, among others.
By Packaging : Rigid and Flexible, among others.
By Distribution Channel : Store-based and Non-store-based.
By Regions : Europe, North America, APAC, and the Rest-of-the-World.
Global Cookies Market - Regional Analysis
The Asia Pacific region leads the global cookies market with the largest market share. Increasing government support and favorable regulations for setting-up manufacturing plants in the APAC is a key driving force behind the growth of the regional market. Moreover, ample availability of cost-competitive logistics such as land, raw materials, and labor force attract many foreign investors, encouraging them to set-up production units in the region. India, China, and Australia are major markets in the region for cookies, contributing to the regional market growth, hugely.
The cookies market in North America takes the second-leading position. The huge popularity of cookies as a snacking item is expected to continue driving the growth of the regional market. Moreover, high consumption and the changing food consumption pattern are factors enabling the region to hold a significant share in the regional market. The presence of massive production and consumer bases are projected to fuel the regional market growth, increasing production volume of cookies.
The Europe cookies market is a rapidly growing market. Factors such as the presence of several well-established players positively impact market growth in the region. The UK and Germany are the major markets dominating the European cookies market. Additionally, factors such as the resurging economy and the presence of a substantially large consumer base are supporting the regional market growth.
Global Cookies Market - Competitive Analysis
Fiercely competitive, the global cookies market appears to be highly diversified characterized by the presence of several players. To gain a competitive advantage in this market, these players adopt strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. They also invest heavily in R&D to develop a new product and technology. For expansion, they tap the growing markets, investing substantially.
Players compete against each other based on factors such as product quality, reliability, and cost. Consumers are majorly concerned about ingredients & health benefits, and manufacturers continually meet their demand with variety such as low-calorie, sugar-free cookies, etc. Changing consumer demand encourages these manufacturers to enforce innovation in producing low calorie/sugar-free yet nutritious cookies.
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Major Players:
Players leading the global cookies market include Britannia Industries, Mondelēz International, Jiashili Group Limited, Burton’s Biscuit Company, Nestlé SA, Lotus Bakeries NV, Kellogg Co, Leibniz-Keks, Kraft Foods, United Biscuits, Mars Inc., and Want Group, and others.
Industry/ Innovation/Related News:
August 02, 2019 ----- KKR & Co., Inc. (the US), a private equity business, announced the acquisition of certain international operations of Arnott’s biscuits business in Australia and APAC and Campbell Soup Co. (the US), including the simple meals and shelf-stable beverages business in Australia and APAC, and the business in Latin America. KKR has signed an agreement to acquire Arnott’s cookies and crackers under Arnott’s and TimTam brands and its plants in Australia, New Zealand, and Singapore.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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Source: MarketersMedia
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