Cookies market size expected to reach $46.3 billion at a CAGR of 5.3% by 2026 – IndustryARC
Increase in demand for healthier cookies.
HYDERABAD, TELANGANA, INDIA, September 15, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that cookie market The size is expected to reach $46.3 billion by 2026 growing at a CAGR of 5.3% during the forecast period 2021-2026. Cookies are usually baked or baked foods that are small, flat, and sweet. Molded cookies, fallen cookies, rolled cookies, pressed cookies, refrigerator cookies, and bar cookies are the six main types of cookies. The demand for cookies is increasing rapidly among the young population owing to the increase in innovative and healthier product launches.
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Key points to remember:
1. Geographically, the North America cookie market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the increase in the propensity to purchase cookies like snickerdoodles.
2. Increased awareness of the health benefits of bar cookies such as improved functioning heart health and blood circulation is driving the bar cookie segment. However, increasing availability of alternative products, such as cookies and chocolates, is one of the major factors that would reduce the growth of the cookies market.
3. A detailed analysis of the strengths, weaknesses and opportunities of key players operating in the market will be provided in the Cookies Market report.
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1. Cookies market based on product type can be further segmented into bar cookies, roll cookies, mold cookies, teardrop 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. The Drop Cookies segment held the second largest share in 2020 owing to factors such as the growing adoption of gluten-free drop cookies and increasing research and development activities to develop drop cookies with innovative flavors.
2. North America held the largest share with 31% of the overall market in 2020. Growth in this segment is driven by factors such as rising demand for oatmeal raisin cookies among young population and an increase in product launches by key players. The increase in the propensity to purchase cookies like snickerdoodles is driving the growth of the cookie market. The Asia-Pacific segment is estimated to be the fastest growing segment over the period 2021-2026.
3. The cookies market based on distribution channel can be further segmented into hypermarkets/supermarkets, online channels, convenience stores and others. Hypermarkets/Supermarkets segment held the largest share in 2020 owing to factors such as increasing propensity to purchase cookies like snickerdoodles in supermarkets/hypermarkets and rising investments by major supermarket players in emerging countries , such as India and China. The easy availability of flavor choice in supermarkets is driving the growth of cookies market. The online channel segment is estimated to be the fastest growing segment with a CAGR of 6.1% over the period 2021-2026.
The top 5 players in the cookie industry are –
2. Mondelez International
3. Campbell’s Soup Co.
5. Britannia Industries
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B. Health Food Market