The global cookies market size is expected to reach USD 44.01 billion by 2025 with a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Rising product popularity and increasing demand for on-the-go snacks in developed markets including Germany and U.K. are expected to remain key driving factors for the market over the forecast years. Increasing demand for gluten-free cookies as alternatives to conventional counterparts due to rising concerns regarding glutamic disorders is also offering growth opportunities for the global market.
Rapid urbanization along with increasing disposable income levels in emerging economies, such as China and India, is projected to boost the product demand. Innovative marketing strategies undertaken by major companies in the market to lure new customers will also contribute to the market growth. Manufacturers are focusing mainly on product innovations, in terms of flavors, ingredients, packaging, etc. This factor are is also likely to propel the market development in the next few years.
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Further key findings from the study suggest:
Bar product segment led the market in 2018 and is expected to maintain its dominance over the forecast period due to increasing popularity of these product forms
Online channels are expected to account for more than 19.8% of the global share by 2025 due to increasing popularity of e-commerce sites
North America generated a revenue of USD 10.42 billion in 2018. Impulsive purchases by people of all age-groups is projected to remain a favorable factor for the regional market
APAC is expected to account for more than 25% of the total revenue by 2025. Changing lifestyle and rising disposable income in emerging countries are likely to open growth avenues for the market
Key manufacturers include The Kellogg Company, Nestlé S.A., PepsiCo, Inc.; Britannia Industries Ltd.; The Campbell Soup Company, Mondelēz International, Inc.; Danone S.A.; and Parle Products Private Limited
Development of products in chocolate and fruit extract variants is projected to remain one of the key strategies among these manufacturers