USD 25.34 billion
Report ID: SQMIG30I2066 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 128 | Figures: 66
Global Cookies Market size was valued at USD 25.34 billion in 2021 and is poised to grow from USD 27.56 billion in 2022 to USD 45.4 billion by 2030, growing at a CAGR of 6.43% in the forecast period (2023-2030).
A cookie is a little, biscuit-shaped baked good that contains a variety of components, including flour, sugar, nuts, raisins, cashews, and oil, which is eaten as a snack. Cookies are a good source of vitamins, minerals, lipids, and other nutrients. The market offers a vast variety of cookie flavors and shapes.
Cookies are a popular snack all over the world because they include essential nutritional elements such as lipids, vitamins, minerals, and other nutrients. The global cookies market is expected to expand due to the development of new cookie styles and designs, as well as appealing cookie packaging by various manufacturers. The variety of cookie flavors—including oat, raisins, almonds, and chocolate—has increased consumer demand for cookies. People now prefer to eat cookies as snacks due to their growing health benefits. All these factors together contribute to the increasing expansion of the global cookies market over the forecast period.
US Cookies Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 25.34 billion
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The Global Cookies Market is segmented based on ingredient, product type, packaging type, distribution channel and region. Based on the ingredient, it is categorized into Chocolate, Chocolate Chip, Oatmeal, Butter, Cream, Ginger, Coconut, and Honey. Based on the product type, it is categorized into Drop Cookies, Bar Cookies, Molded Cookies, Fried Cookies, No-Bake Cookies, Refrigerated Cookies, Ice Box Cookies, Rolled Cookies, and Sandwich Cookies. Based on packaging type, it is categorized into Rigid Packaging, and Flexible Packaging. Based on the distribution channel, it is categorized into Offline Retail and Online Retail. The offline retail sub-segment is further categorized into Hypermarkets/Supermarkets, Convenience Stores, and Specialist Stores. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Analysis by Product Type
On the basis of product type, the bar cookies segment is currently dominating the global cookies market. The primary reason propelling the industry is the growing consumer acceptance of these products as a result of their numerous health advantages, including bettering blood circulation and heart health. Additionally, drop cookies are projected to rise in popularity and demand, and generate high market revenue over the forecast period. It is anticipated that new product introductions in this market sector by businesses like Dunkin' Donuts and Oreo through online channels and supermarkets would create growth opportunities.
On the other hand, sandwich cookies are predicted to account for the majority of the global cookie industry, due to the various nutritional benefits of its contents, which include ice cream, lemon curd, buttercream, chocolate, ganache, and jam, over the forecast period.
Analysis by Distribution Channel
On the basis of distribution channel, the offline retail segment currently dominates the global cookies market. The industry is expected to be driven by the increasing prominence of supermarkets and convenience stores as significant selling channels in developing economies such as China and India. Given that consumers may choose from a wide selection of cookies from various brands in a single store, the specialty stores segment is also projected to account for a significant portion of the global cookies market.
However, due to the growing global population of internet users, it is predicted that the category of online retail establishments would expand more quickly. Additionally, the continued development of smart phones with cutting-edge internet apps by manufacturers like Xiaomi, Oppo, Nokia, and Apple is expected to fuel the segment's growth in the years to come.
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Based on the region, the European region currently dominates the global cookies market with respect to market share and it is predicted to have the highest share over the forecast period, due to the volume of confectionary items produced and exported to other nations. Approximately 2 million tonnes of the region's annual confectionery production are exported outside the European Union, according to Chocolate Biscuit and Confectionery of Europe (CAOBISCO). The demand for gluten-free cookies is also rising as concerns regarding lactose intolerance and other glutamic problems grow in developed European nations. Another significant driver of the region's increasing demand for cookies is the rise in per capita income, which has led to the increase in the purchasing capacity of consumers in that region. The market for cookies in the area is expected to develop as a result of all these factors.
However, it is anticipated that the North American area would have good expansion in the global cookie industry. Due to the rising worries about poor diet, obesity, and other health issues, an increasing number of Americans are choosing better eating options. This aspect has increased the market share of healthy cookies in the area, particularly in the United States. To increase their appeal among consumers, major businesses are introducing cookies made with natural components, such as whole grains, low-calorie sweeteners, and wheat.
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To keep up with regional competition, major cookie producers are depending on flavor, format, and packaging innovation. Market leaders like Mondelez International, Inc. have kept up their investments in product developments and brand development to maintain customer loyalty. The market in each region is defined by the existence of several local players and a very small number of large firms. Key firms are attempting to outdo rivals by launching and expanding new products, innovating existing products, and expanding their markets.
Companies use appealing packaging, large quantities, and merchandising tactics to get customers to buy cookies. Public relations, CSR initiatives, and online marketing are frequently used as marketing strategies by major companies in the cookies market to raise brand awareness and draw in customers. These businesses primarily advertise cookies as a healthy food and nutrient-dense food, which increases consumer demand for the cookies market.
Top Players Company Profiles
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According to the analysis, the global cookies market is currently led by countries in the European region, due to the volume of confectionary items produced in the region and exported to other nations. Along with this, the bar cookies segment is currently dominating the global cookies market, and it is projected to maintain its dominance over the forecast period, due to their numerous health advantages, including bettering blood circulation and heart health, among others.
|Market size value in 2021||USD 25.34 billion|
|Market size value in 2030||USD 27.56 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Cookies Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cookies Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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