Cookies Market Share, Size, Trends, Industry Analysis Report, By Product (Bar, Molded, Rolled, Drop), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM3752
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global cookies market was valued at USD 36.09 billion in 2023 and is expected to grow at a CAGR of 5.20% during the forecast period.
Prime factors responsible for market growth include introduction new flavor variants, immersed with local tastes & preferences, rise in disposable income, & the increasing acceptance of the chocolate cookies as the gifting option. Growth is particularly driven by increase in consumerism in the emerging nations, with ever rising discretionary spending. As these regions continue to develop and their populations have more disposable income, the demand for chocolate cookies is projected to rise.
Cookies are ready-to-use snacks that can be consumed at any time of the day, providing flexibility and convenience to individuals. They are offered in a wide variety of price ranges, flavors, sizes, and quantities, making them appealing to a large population. Furthermore, attractive packaging enhances their convenience for storage and transportation, further contributing to their popularity among consumers. Overall, these factors collectively stimulate market growth.
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In response to consumers' increasing focus on healthier food choices to address concerns related to poor diet, obesity, and overall health, the key players have introduced a range of healthier cookie options. These include oat-meal, vegan, sugar-free, gluten-free cookies. Moreover, the introduction of digestive cookies in industry has provided consumers with a healthy snacking option that aids digestion.
To attract customers and stay competitive, bakery manufacturers are focusing on unique packaging & introducing new flavor variants. These efforts aim to capture consumers' attention and offer unique experiences, further driving the demand for chocolate cookies. Rising income levels in emerging economies like China & India is another key factor expected to fuel the product demand in the coming years. Furthermore, chocolate cookies are gaining popularity as a gifting option. People are increasingly considering chocolate cookies as a delightful present for various occasions, such as birthdays, holidays, & celebrations. This trend is projected to contribute to the overall growth of the market.
The market faces a potential threat from alternative products like chocolates and biscuits, as they can be substitutes for cookies. Additionally, the high manufacturing costs associated with cookies can lead to higher prices for end products, which could hinder market development. However, the market is expected to experience growth due to two main factors. Firstly, the increasing disposable income levels of consumers contribute to higher purchasing power and demand for cookies. Secondly, key companies in the industry are employing innovative strategic marketing techniques to attract new consumers, which is anticipated to drive market growth in the future.
Industry Dynamics
Growth Drivers
Increasing demand for gluten-free cookies in developed regions
Cookies typically contain oats and digestive ingredients as their primary ingredients. Some cookies are specifically formulated to be gluten-free and have a high energy content. In response to changing consumer demands, the cookies market is witnessing the introduction of new flavors infused with exotic add-ons. Additionally, cookies prepared through a shortened baking process are marketed as fat-free and protein-rich products. There is an increasing demand for gluten-free cookies in developed regions due to growing concerns about gluten-related disorders and lactose intolerance. As a result, manufacturers are expected to see a rise in the demand for gluten-free options. Regulations promoting organic labeling in the food and beverage industry are pushing manufacturers to improve label standards for their finished goods. This drive towards transparency and organic certification is expected to have a positive impact on market growth.
Report Segmentation
The market is primarily segmented based on product, distribution channel, and region.
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By Product |
By Distribution Channel |
By Region |
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By Product Analysis
Drop cookies segment is expected to witness fastest growth during forecast period
Drop cookies is expected to have faster growth for the market. Growth opportunities for this segment are expected to arise from new product launches by renowned companies like Dunkin & Oreo. These companies are leveraging online channels and supermarket distribution to introduce their products to consumers, thereby stimulating market growth. Bar cookies segment expected to garner largest share. This segment's success is attributed to the increasing consumer preference for bar cookies, driven by the various health benefits they provide, including improved blood circulation and heart health.
By Distribution Channel Analysis
Offline segment accounted for the largest revenue share in 2022
Offline segment holds the largest market share. This share is primarily due to significant presence of supermarkets & convenience stores as prominent sales channels in developing economies such as China & India. Online channels expected to grow at the fastest rate, owing to the growing popularity of e-commerce channels.
Regional Insights
APAC expected to witness higher growth rate in the study period
APAC is projected to have a higher growth rate for the market. This growth can be attributed to region's rapidly improving economy, which has resulted in increased disposable income levels among consumers. Additionally, urbanization and changing lifestyles have further fueled the demand for various products, including cookies. These factors collectively contribute to the overall growth of the market in the coming years. The increasing income levels among individuals in the region are a significant driver for the growing demand for premium cookies. Notably, the younger population has shown a greater inclination towards purchasing cookies.
North America is projected to experience a larger revenue share for the market. he consumption of sandwich biscuits, particularly among the working-class population in the United States & Canada, is expected to be a key driver for further growth in the regional market. Additionally, the availability of a wide range of flavors such as buttercream, chocolate, & peanut butter is anticipated to contribute significantly to market expansion.
Key Market Players & Competitive Insights
Product innovation and strategic business partnerships with distributors in developing countries such as China, India, & Bangladesh are expected to be crucial for success in the cookie market.
- For instance, Nestle recently introduced a new product named Pumpkin Cobbler Cookies, showcasing their commitment to innovation. Additionally, Starbucks and Nestle have formed a partnership to offer packaged and consumer goods under the Starbucks brand.
Moreover, Britannia is actively working on the development of healthy, low-fat cookies to cater to the Indian market. These initiatives highlight the importance of innovative product offerings and strategic partnerships in driving growth and capturing market opportunities.
Some of the major players operating in the global market include:
- Britannia Industries
- Danone
- Kellogg Company
- Nestle
- Parle Products.
- PepsiCo.
- Mondelez International
- The Campbell Soup
Recent Developments
- In January 2022, Mondelez International completed acquisition of Chipita Global, a prominent player in the Central & Eastern European market specializing in croissants & baked snacks.
- In April 2022, Mondelez International successfully acquired Ricolino, the confectionery business of Grupo Bimbo. This strategic move has enhanced company's presence & influence in the crucial Mexican market, particularly in the core snacking category.
- In July 2022, to compete with its rivals, Britannia Good Day, a well-known cookie brand in India, introduced a new product called Good Day Harmony biscuit. This range of cookies is available in 4 delightful variants: Hazelnut, Cashew, Pista, & Almond.
- In August 2022, General Mills has introduced a fresh variant of Pillsbury mini soft-baked cookies exclusively for convenience stores. These cookies are crafted using a combination of soft butter & shortening, and they are available in 4 delicious homemade-inspired flavors.
Cookies Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 37.39 billion |
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Revenue forecast in 2032 |
USD 56.9 billion |
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CAGR |
5.20% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019 - 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Product, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Kellogg Company, Nestle, PepsiCo; Britannia Industries; The Campbell Soup, Mondelez International; Danone; and Parle Products. |
FAQ's
Britannia,Industries,Danone,Kellogg Company,Nestle,Parle Products are key companies in legal Cookies market.
The global cookies market is expected to grow at a CAGR of 5.2% during the forecast period.
product, distribution channel, and region key segments covered.
Increasing demand for gluten-free cookies are key driving factors in legal Cookies market.
Cookies Market Size Worth $ 56.9 Billion by 2032.
