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Cookies are widely popular as a snack all over the globe as they provide required nutritional ingredients such as fats, vitamins, minerals, and other necessary ingredients to the consumer. The global cookies market is expected to increase with the introduction of different styles and designs, attractive packaging of cookies by different players. Demand for cookies is on the rise with the different flavors in the cookies, such as oat, raisins, nuts, chocolate, etc. Evolving health benefits of consuming cookies make peoples prefer to eat cookies at snacks time.
Companies utilize attractive packaging, bulk quantity, and merchandising strategy to attract customers to purchase cookies. Key players of the cookies market such as HUL, ITC, Patanjali, and others widely utilize public relations, CSR activities, and online marketing as a marketing method to increase brand awareness and to attract the customers. These companies largely promote cookies as a health benefit and nutritious food that fuels the demand for the cookies market. Easy availability, affordability and health benefits of the cookies along with wider distribution channel helps cookies market to grow at a faster pace.
The increased number of tea and coffee shops fuel the demand for cookies and is a key driver for the growth of the cookie market, According to the Food and Agriculture Organization of the United Nations, the global tea industry has seen rapid growth with a growing number of consumers, and as of 2016, global tea production stood at 5.73 million tonnes. Increasing disposable incomes of the global population also leads to the growth of the global cookies market.
Key Market Driver -
Increasing number of tea and coffee shops all over the globe fuels the demand for global cookie market.
Key Market Restraint -
Increasing consumers demand for other alternative snacks is projected to hinder the growth of the market
The larger distribution channel such as retail stores also helps to grow the cookies market as cookies are easily available to the peoples in their nearby stores and shops. Increasing visibility of the cookie’s products because of various branding activities by the key players leads the consumers to spend more on bakery products, and this fuels the demand for cookies market. The global cookies market is expected to grow due to the shifting culture of the urban population to prefer morning breakfast.
However, increasing demand for various snacks other than cookies such as chips, fruits, and many others, hinders the growth of cookies market.
Kellogs Co., Britannia Industries Ltd., Nestle, Parle Products Pvt. Ltd., The Campbell Soup Company, Pepsico. Inc., Mondelez International, Danone S.A., United Biscuits, ITC, HUL, Patanjali, etc.
The global cookies market is segmented by product type, by packaging, by distribution channel, and by geography.
Based on product type, cookies are classified into bar cookies, sandwich cookies, molded cookies, pressed cookies, and others. Samdwich cookies are expected to hold the major share of the global cookie market because of more nutritional benefits from the fillings of sandwich cookies such as ice creams, lemon curd, buttercream, chocolate, ganache, and jam than other cookies categories.
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. According to Legal Services India, as of June 2018, the use of plastic in the state of Uttrakhand has been banned by the government. Rigid packaging style for cookie products is expected to grow at a faster rate due to the increasing use of plastic-free materials, papers, cardboards and other raw materials during the manufacturing of rigid packaging.
Based on the distribution channel, the cookies 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 cookies market as a large variety of cookies options of different brands are available to the consumer in a single store. Whereas, online retail stores category is expected to grow at a faster rate owing to the increasing number of internet users across the globe.
On the basis of geography global cookies market is segmented as North America, South America, Asia Pacific, Europe, Africa, and the Middle East.
Europe is expected to hold the largest share of the global cookies market due to the bulk volume of production and exports of the confectionery items to the other countries. According to Chocolate Biscuit and Confectionery of Europe (CAOBISCO), Europe produces nearly 11 Million Tons of confectionary products per year and around 2 million tons of the produce is exported outside the European Union.
However, Latin America is projected to show the positive growth in the global cookies market owing to flourishing sales of the Brazilian baking industry. For instance, in 2018, the Brazilian baking industry sales approach USD 30 Billion, reported by the US department of commerce.
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According to Sweets Bakes Asia, the Asia Pacific segment for the confectionery market is expected to grow by 12% from 2015 to 2020. Asia Pacific region is expected to grow because of the increasing confectionary market.
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