The global cookies market size is anticipated to bolster during he forecast period of 2022-2029 backed by the factor that it is among the most loved and consumed snacks across the globe.
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Segmentation:
Based on product type, the market is classified into bar cookies, sandwich cookies, molded cookies, pressed cookies, and others. Sandwich cookies are expected to hold the major share of the global market.
Based on packaging, the cookies market is segmented into rigid packaging and flexible packaging. Increasing government regulations to ban single-use plastic limits the growth of the flexible packaging style of the cookies.
Based on the distribution channel, the market is segmented into the retailer, shopping malls, specialty stores, hypermarkets, and others. The specialty stores segment is expected to hold a major share in the global market.
On the basis of geography global market is segmented as North America, South America, Asia Pacific, Europe, Africa, and the Middle East.
Report Coverage:
The report offers a detailed study of the market and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for cookies in the near future.
Drivers and Restraints:
Rising Consumer Spending on Bakery Goods to Spur Growth
Since individuals can readily find cookies at their local shops and stores, a wider distribution channel such as retail stores also contribute to the market growth for cookies. By increasing consumer spending on bakery goods as a result of the leading companies’ varied branding initiatives, the market for biscuits is made more popular and in demand. Due to the urban population’s culture shift toward a preference for breakfast in the morning, the global market for cookies is predicted to expand.
The market for cookies is growing, but competition from other snacks including chips, fruit, and many others is stifling its expansion.
Regional Insights:
Europe to Dominate Backed by Substantial Production of Confectionary Goods
Due to its substantial production and export of confectionary goods to other nations, Europe is anticipated to hold the highest cookies market share.
However, due to the booming sales of the Brazilian baking sector, Latin America is predicted to experience good growth in the global market. For instance, according to the U.S. Department of Commerce, the Brazilian baking business saw sales of close to USD 30 billion in 2018.
The Asia Pacific section of the confectionery market is anticipated to expand by 12% between 2015 and 2020, according to Sweets Bakes Asia. The expanding confectionery business is likely to promote growth in the Asia Pacific area.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Cookies Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
Key Industry Development:
January 2020: Nestle launches Edible Funfetti cookie dough brownie batter having all familiar flavors.
List of Key Players Mentioned in the Report:
- Kellogs Co.
- Britannia Industries Ltd.
- Nestle
- Parle Products Pvt. Ltd.
- The Campbell Soup Company
- Inc.
- Mondelez International
- Danone S.A.
- United Biscuits
- ITC
- HUL
- Patanjali
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