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Cookies and crackers are unleavened and baked products which is widely popular as snacks all over the globe. Cookies and crackers comprise of nutritional ingredients such as carbohydrates, fibres, vitamins, and other minerals required for proper bodily functioning. The demand for bakery products is increasing due to its better appeal, nutritional properties, taste, and convenience has significantly driven market growth. The rising global population and increasing demand for convenience food support the growth. The demand for cookies and crackers in different styles, packaging innovations, and different flavours further, boosts the market growth.
The increase in consumption of convenience food has positively aided in the sales performance of cookies and crackers. The demand for nutrition is rising worldwide, and so is the consumption of cookies and crackers, due to swelling healthy snacking trends, less time spent on cooking, and increasing working population. Along with this, the availability of gluten-free, whole-grain, and sugar-free options in the cookies and crackers has driven the market growth.
The changing consumer preferences towards healthy snacks such as cookies, crackers, and biscuits are booming, which mainly drives the market growth. The consumers are demanding for snacks that are nutritious, convenient, and have a sensory and aesthetic appeal due to the surging healthier and better-for-you trends. The consumer's perceptions have become more clearer and, hence are opting for smarter food choices, which has positively aid in the market growth.
The presence of substitute snacks options such as muffins, baked chips, doughnuts, rolls, and others in the market has negatively impacted the market growth.
Key Market Driver -
Increasing Consumers Inclination Towards Healthy Snacks
Key Market Restraint -
Availability of Other Snacking Options in the Market
The key companies operating in the global cookies and crackers market are, Parle Products Private Limited, The Kellogg Company, Britannia Industries Limited, United Biscuits (UK) Limited, Mondelez International, Inc., Campbell Soup Company, The Hain Celestial Group, Inc., General Mills, Inc., Nestle S.A., and PepsiCo, Inc.
The cookies segment is likely to account for the major share in the market due to the consumers growing interested in cookies which are healthy such as gluten-free cookies. Along with this, the wide array of cookie flavours and in various forms such as sandwich and rolled positively fuels in the market growth.
The supermarkets and hypermarkets are anticipated to hold the major share in the market due to the presence of numerous options in cookies and crackers. According to the American Baker’s Association and Food Marketing Institute, 2019 the in-store bakery sales were dominated by cookies and desserts and accounted for $13.8 billion. These mass merchandisers offer numerous bundling schemes and discounts, coupled with the presence of in-store bakeries have contributed in driving the sales.
Europe is witnessing significant growth in the market as it is one of the largest producers and exporter of cookies and bakery products in the world. Countries such as England, Germany, Italy, Belgium, and France are the major exporter of cookies and sweet biscuits, according to the Ministry of Economy. Further, the growing popularity of baked items and savoury crackers in the region is expected to positively impact in the regional market growth.
Asia Pacific is likely to exhibit the fastest growth in the market due to the changing consumer preferences, rapid urbanization, and increasing adoption of western eating habits. India, China, and Australia are among the most potential markets in the region due to their rising population, stabilizing the economy, and rising disposable incomes. The consumers are increasingly demanding for healthy and convenient snacks due to their active lifestyles, which is anticipated to further boost the regional market growth.
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