The Increase in the Inclination Towards Buying Cookies Like Snickerdoodles Is Driving the Growth of the Cookies Market
Cookies Market size is estimated to reach $46.3 billion by 2026, growing at a CAGR of 5.3% during the forecast period 2021-2026. Cookies are generally baked or cooked foods that are small, flat, and sweet. Molded cookies, dropped cookies, rolled cookies, pressed cookies, refrigerator cookies, and bar cookies are the six major types of cookies. The demand for cookies is rapidly increasing among the young population owing to the rise in innovative and healthier product launches. The rise in the demand for oatmeal raisin bar cookies among the young population, increase in the inclination towards buying cookies like snickerdoodles in supermarkets, rise in the demand for cookies in tea and coffee shops in developing nations, and growing investment by the key players to develop gluten free cookies are the factors that are set to drive the growth of the Cookies Market for the period 2021-2026.—
Cookies Market Segment Analysis-By Product Type
The Cookies Market based on the Product Type can be further segmented into Bar Cookies, Rolled Cookies, Molded Cookies, Drop Cookies, and Others. The Bar Cookies segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 6.4% over the period 2021-2026.
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Cookies Market Segment Analysis-By Distribution Channel
The Cookies Market based on the Distribution Channel can be further segmented into Hypermarkets/Supermarkets, Online Channels, Convenience Stores, and Others. The Hypermarkets/Supermarkets segment held the largest share in 2020 owing to the factors such as the increase in the inclination towards buying cookies like snickerdoodles in supermarkets/hypermarkets and the rise in the investment by the key players in supermarkets in emerging countries, such as India and China. The easy availability of choice of flavor in supermarkets is driving the growth of the Cookies Market
Cookies Market Segment Analysis-By Geography
North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing demand for oatmeal raisin bar cookies among the young population and an increase in product launches by key players. The increase in the inclination towards buying cookies like snickerdoodles is driving the growth of the Cookies Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026.
Cookies Market Drivers
Increase in the Demand for Healthier Cookies.
Customers across the world are increasingly becoming health conscious and are shifting towards gluten free cookies owing to the rise in the number of chronic diseases. The key players are also focusing on launching healthier oatmeal raisin cookies and snickerdoodles with natural flavors, which is one of the major factors driving the growth of the Cookies Market.
Rise in the number of Tea and Coffee Shops.
The rise in the number of tea and coffee shops across the world has propelled the demand for cookies owing to the growing demand from customers. The manufacturers are also attracting customers in tea and coffee shops with innovative and healthier product launches, which is further propelling the growth of the Cookies Market.
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Cookies Market Challenges
Rise in the Availability of Alternative Products.
The key players in the market are collaborating with other players to carry out various research and development activities for launching innovative flavored cookies to attract the younger population across the world. However, the rise in the availability of alternative products, such as biscuits and chocolates is one of the major factors that is estimated to reduce the growth of the Cookies Market.
Cookies Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Cookies Market. Key companies of this market are Nestle SA, Mondelez International, Inc, Campbell Soup Co, Kellog Co, Britannia Industries, United Biscuits Limited Co, Grupo Bimbo, Barilla Group, Parle Products, and Kraft Foods among others.
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.
Geographically, North America Cookies Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the inclination towards buying cookies like snickerdoodles.
The increase in awareness about the health benefits of bar cookies, such as improving the functioning of heart health and blood circulation is driving the Bar Cookies segment. However, the rise in the availability of alternative products, such as biscuits and chocolates is one of the major factors that is said to reduce the growth of the Cookies Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Cookies Market report.
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