The “Cookies Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)” report has been added to ResearchAndMarkets.com’s offering.
The global industry for cookies is projected to grow at a CAGR of 7.37% during the forecast period (2021-2026).
The increasing number of consumers shifting toward healthier alternatives when it comes to food consumption, due to the growing concerns over obesity, poor diet, and other health issues, which continue supporting the growth of cookies market, globally. Moreover, product innovations, owing to health and wellness concerns, are changing the market dynamics, globally. An increase in new product offerings by vendors, using new flavors, safe ingredients, and packaging has attracted the consumer interest for cookies.
Key Market Trends
Increasing Demand for Healthy Cookies
Healthy cookies segment includes gluten-free, free from, organic, low-sugar, low-fat, low-carb, and high-fiber digestive cookies. The increasing popularity of clean-labeled cookies is expected to change the market dynamics, as more bakeries are working on certification from the NonGMO Project. It is also working on a gluten-free line, low-sugar, and low-carb line. The rising popularity of low carb and low sugar diet in developed economies, like the United States, is driving the sales of low sugar and low carb cookies. For instance, in 2018, Keto-friendly cookie start-up Fat Snax launched high fat, low-carb cookies and is selling it through 740 Vitamin Shoppe Stores in United States.
Europe to Dominate the Global Market
The market is dominated by Europe, followed by North America. Countries like Italy and Spain lead the market demand for cookies in Western Europe. Globally, the United States, India, and China are reported to be the bigger markets for cookies, with high per capita demand. While the developed regions of North America and Europe hold the majority of market share, the growth in these regions clearly lags behind compared to the projected market growth in developing countries. Asia-Pacific represents the fastest growing market for cookies, given the increasing urbanization and growing disposable income among consumers.
Major companies in the cookie market are relying on flavor, format, and packaging innovation to maintain their competitive position, regionally. Market leaders like Mondelez International, Inc have continued their investment in brand creation and product innovations, to keep up the brand loyalties. In each region, the market is characterized by the presence of several local players and very few large players. New product innovations, launches, and expansions in the market, key players are trying to gain a competitive advantage over the other players. Some of the major key players in the cookies market, globally include Mondelez International, The Kellogg Company, Parle Products, Grupo Bimbo, S.A.B. de C.V., Campbell Soup Company, Britannia Industries Ltd, Kraft Foods, among others.