Cookies Market SWOT Analysis, Growth, Share, Size and Demand
The cookie market will obtain a value of $45.40 billion and a CAGR of 5.55% between 2022 and 2030.
The cookie market is booming due to the increase in population and increasing consumption, especially among consumers who follow diets without staple foods.
The main driver for the expansion of the market is the increasing desire of the population for the products produced in the bakeries. Other factors influencing market expansion include strengthening economy and rising disposable income. However, the price of raw materials and rising manufacturing costs are expected to restrain the expansion of the market.
Due to the increase in chronic diseases, consumers around the world are becoming more health conscious and turning to gluten-free cookies. One of the major factors propelling the growth of the cookies market is the focus of the major players on the introduction of healthier oatmeal raisin cookies and natural flavored snickerdoodles. Compared to chocolate and chocolate chip cookies, oatmeal cookies are healthier. This is especially important for health-conscious customers who appreciate products suited to their active lifestyle. As more bakeries strive to achieve Non-GMO Project certification, the growing demand for clean-labeled cookies is expected to change market dynamics.
The COVID19 wave has had a negative impact on several industries, and sales and revenues are down. According to the cookie industry survey report, the industry is facing many challenges like any other industry. The industry is using new tactics to advance procedures to address these issues. The industry successfully increases the rate of sale among the targeted audience by adhering to these procedures. COVID 19 has impacted cookie production due to a shortage of transportation and social segregation policies.
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The cookie market is divided into different segments.
The market is divided into bars, drops, molded, rolled and others based on the product. Due to its long history in the list of consumer foods, the bar category, which dominated the market in 2019, is expected to maintain its dominance over the forecast period. Drop, Molded, Rolled and the other processes come next, in that order.
The market is divided into specialty retailers, online retailers, hypermarkets/supermarkets, convenience stores and others based on distribution channel. In 2021, the market was dominated by specialty retailers, and this trend is expected to continue over the projection period.
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What are the main countries covered by the cookie industry?
Europe, North America, Asia Pacific and Rest of the World are the four market segments that make up the global cookie market. The Asia-Pacific region represents the largest part of it. Next, China, Australia, and India are the major countries driving the agricultural biscuits market. The cookie market is dominated by Europe, the third largest shareholder country, followed by North America. The two largest nations controlling the European cookie market are the UK and Germany.
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In August 2021, Mondelez International and MissFresh, an online marketplace, launched OREO’s new line of no-sugar-added sandwich cookies, Oreo Zero, in China.
The Campbell Soup Company launched Farmhouse Thin and Crispy Milk Chocolate Chip Cookies and Gluten-Free Crispy Butter Cookies in January 2020 to expand the market for its Pepperidge Farm brand.
Jimmy’s Cookies announced in 2021 that it would purchase the Ecce Panis bread brand and its South River, New Jersey-based baking facilities from Campbell Soup Co.
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NOTE: Our team of researchers is studying Covid19 and its impact on various industry verticals and if necessary we will review Covid19 footprints for better market and industry analysis. Kindly get in touch for more details.
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