Cookies are baked confectionary goods that are majorly produced in a circular shape having a sweet taste. These baked products are available in different flavor range and involve the usage of basic baking ingredients such as flour, oil, fats, sugars and depending on the product being developed the ingredient which will offer it the flavor. These products also sometimes involve the inclusion of various dry fruits and different nut variants and therefore are presented with special allergen information for individuals allergic to these products.
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Cookies market is growing due to increasing consumption of baked & confectionary goods, rising levels of cafes and restaurants globally; the effects of these factors are mentioned below:
- Increasing consumption of baked and confectionary goods: One of the major growth drivers for cookies is the growth in the levels of consumption associated with baked and other confectionary products. This demand has directly had a positive impact on the overall growth of cookies market. Due to the different flavor variants offered by cookies, their demand is experiencing a significant positive impact. These products also cater to the different needs of ingredients to not be included in the production process such as gluten, nuts or even any dairy products offering consumers with a very effective method of fulfilling their desire of consuming baked and confectionary products
- Rising levels of cafes and restaurants globally: Another factor that is enhancing the revenues of cookie manufacturers and players dealing in this particular market is the increasing prevalence of cafes and restaurants catering to the demands of consumers for having food products to be consumed alongside tea and coffee. Manufacturers of cookies and other baked goods are providing their product range to these restaurants and cafes which is enhancing the rate of consumption for these products
Strategic expansion of collaborations and innovative product launch activities undertaken by market players:
- In January 2019, Burton’s Biscuit Company announced that they had developed a new product which will focus on meeting the demands of consumers that are reducing their sugar intake. The product branded as “Maryland Sugar Free Cookies” achieve their sweetness with the help of maltitol instead of conventional sugar. The new product range will provide similar tastes associated with conventional variants of Burton’s cookies although with a significant reduction in the calorie content
- In November 2018, Hershey India Private Limited announced their entry into packaged food products with the availability of “Better For You” cookies available under the range “Sofit Protein Cookies” includes various proteins, Omega-3, fibre and vitamins as their core ingredients. The company has highlighted the importance that these nutritional ingredients play in the maintenance of a healthy lifestyle of individuals
The market is segmented on the basis of ingredient as chocolate, chocolate chip, oatmeal, butter, cream, ginger, coconut, honey, others; product type is categorized into drop cookies, bar cookies, molded cookies, fried cookies, no-bake cookies, refrigerated cookies, ice box cookies, rolled cookies, sandwich cookies, others; packaging type as rigid, flexible, others; sales channel as modern trade, direct sales, specialist retailers, traditional grocery stores, supermarkets/hypermarkets, convenience stores, online channel, others.
“According to Data Bridge Market Research, global cookies market is expected to reach USD 47.98 billion by 2026, growing with a substantial CAGR during the forecast period of 2019 to 2026”
Some of the major players operating in market are Mondelēz International, Kellogg Co., Ferrero, CSC BRANDS, L.P., Nestlé, pladis global, PepsiCo, Inc., MDias Branco, Britannia Industries Limited, Barilla G. e R. Fratelli S.p.A, Arcor, AB Annas Pepparkakor, Adam Foods, Dali Food Group Co., Ltd, Jiashili Group Ltd., THOMAS TUNNOCK LIMITED, Burton's Biscuit Company, Parle Products Pvt. Ltd., ITC Limited, Grupo Bimbo, Lotus Bakeries and Bahlsen GmbH & Co. KG, among others.
Consumers are focusing on consumption of cookies and baked products relating to the luxury products range as they are focusing more on quality of goods rather than consuming cost-efficient products. One of the major factors behind this trend is the increasing disposable income present with these individuals which has subsequently helped cookie manufacturers to focus on product innovations and development of products relating to luxury segment which will result in enhancement of the demands relating to their product range.
