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Cookies Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global cookies market was valued at USD 46.8 billion in 2021 and is projected to expand at a CAGR of 4.5% from 2022 to 2030. The growing demand for ready-to-eat food products and snacks is driving the market for cookies. The growing health consciousness among consumers is driving the demand for cookies with reduced sugar and fat content. Moreover, the shift in consumer preference towards organic and vegan cookies is also driving the market.
In addition, with the increasing demand for convenience food, the demand for cookies has been growing significantly. Consumers are increasingly opting for cookies as an alternative to traditional snacks. Furthermore, manufacturers are introducing innovative flavors to meet changing consumer preferences. For instance, in April 2021, Lotte launched a limited-edition Oreo cookie flavor which has a mix of green tea and white chocolate.
The rising trend of premiumization among consumers is driving the demand for premium cookies. This has led to an increase in the number of product launches in the premium cookie segment. For instance, in April 2021, Nestlé launched KitKat Chunky Salted Caramel and Chunky Hazelnut Crunch Cookies in the UK.
Moreover, manufacturers are increasingly focusing on product packaging for better shelf visibility and market penetration. For instance, in June 2021, Mondelez International launched new packaging for its iconic Oreo cookies. The new packaging has an eye-catching design and an iconic Oreo cookie pattern.
Furthermore, due to the growing online retailing of cookies, manufacturers are focusing on the development of online strategies to increase the sale of cookies. For instance, in June 2021, Nestle launched a new online store for its cookie brand, Toll House. The online store offers exclusive products, special offers and loyalty programs, and personalized gift boxes.
The growing number of collaborations between manufacturers and retailers is expected to boost the market growth in the coming years. For instance, in June 2021, Mondelez International announced a collaboration with Walmart to develop a new line of Oreo cookies. The collaboration is expected to help the company expand its presence in the cookies market.
Product Insights
The sweet cookies segment dominated the market in 2020 and is expected to maintain its dominance throughout the forecast period. The growing demand for sweet cookies among consumers, especially children, is driving the growth of the segment. Moreover, rising consumer preference for cookies over traditional snacks or desserts, as they are easy to prepare and consume, is another factor driving the growth of the segment.
The savory cookies segment is projected to expand at the fastest CAGR of 4.2% during the forecast period. Growing consumer preference for savory snacks, such as cookies, over traditional snacks is one of the key factors driving the growth of the segment. Moreover, the introduction of various flavors and innovative seasoning techniques by manufacturers is further boosting the growth of the segment. In addition, rising demand for low-calorie snacks and increasing preference for healthier options are driving the growth of the market.
Distribution Channel Insights
The supermarkets and hypermarkets segment held a major share of over 27.4% in 2022. The growth of this segment is mainly driven by the increasing number of supermarkets & hypermarkets. Many manufacturers are focusing on this channel to make their products easily accessible to customers. They are also providing promotional activities and discounts on their products to attract customers. Moreover, these establishments provide a wide range of products, which attract customers and make it easier for them to purchase the required product.
The convenience stores segment is anticipated to expand at the highest CAGR of 11.1% over the forecast period. The growth of this segment is attributed to the increasing number of convenience stores across the globe. These stores provide quick access to products and are open for longer hours, which makes them more attractive to customers. In addition, they have started to offer a variety of cookies products and have also started to focus on providing promotional activities to attract customers.
Type Insights
The refrigerated cookies segment accounted for the largest revenue share of 55.2% in the year 2022. The segment is expected to maintain its dominance over the forecast period due to the growing demand for convenience food, increase in the number of working women, and the widespread availability of refrigerated cookies in supermarkets and convenience stores. Moreover, the desire to eat safe and hygienic food has been increasing, owing to which manufacturers have been increasingly focusing on providing refrigerated cookies.
The frozen segment is anticipated to register the highest CAGR of 8.7% over the forecast period. This trend is driven by the growing demand for frozen bakery products due to the convenience they provide. Also, the increasing number of working women and the desire to eat hygienic food are some of the factors driving the growth of the frozen cookies market. Additionally, the increasing number of retail stores and the availability of frozen cookies in supermarkets and convenience stores are also driving the growth of this segment.
Regional Insights
North America is expected to dominate the cookies market owing to the presence of prominent players in the region. The increasing demand for cookies from the millennials in the region is expected to be the major factor driving the growth of the market. For instance, in June 2021, Pepperidge Farm launched its new cookies range, which included the Soft Baked Snickerdoodle, Soft Baked Oatmeal Raisin, and Soft Baked Double Chocolate Chip.
Europe is expected to witness significant growth in the market in the coming years. The increasing demand for cookies with added nutritional value and new flavors is expected to drive the growth in the region. Furthermore, the rising bakery culture in the region is expected to help boost the market growth. For instance, in June 2021, United Biscuits launched its new range of cookies, including McVitie’s Digestive Bites, McVitie’s Chocolate Chip Bites, and McVitie’s Chocolate and Caramel Bites.
Financial Projections
In this part of the cookies products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your cookie products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a cookies products business comes from retail sales, wholesale sales, catering, and other special orders. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, subscription boxes, and promotional events.
Projecting Expenses
In this section, all the regular expenses related to keeping the cookies business running will be described. The list of operating expenses includes ingredients and packaging, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the cookies market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Mondelez International, Inc. launched the Oreo Thins Cookies for the U.S. market.
– In August 2022, Kellogg Company launched the Pringles Puffs cookies for the U.S. market.
– In October 2022, Campbell Soup Company launched the Milano Sliced Cookies for the U.S. market.
Some of the prominent players in the cookies market include:
– Mondelez International, Inc.
– Kellogg Company
– Campbell Soup Company
– Nestlé S.A.
– The Hershey Company
– Ferrero Group
– United Biscuits
– General Mills, Inc.
– Kellogg’s
– Pladis Global
Global Cookies Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cookies products market based on type, distribution channel, and region:
1. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Chocolate Cookies
– Oatmeal Cookies
– Vanilla Cookies
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Global Cookies Products Market?
[A]: The key drivers of the Global Cookies Products Market include the increased demand for convenient snacks, rising health consciousness among consumers, growing disposable income, and the availability of a variety of flavors, shapes, and sizes. Additionally, the increasing number of promotional activities by manufacturers and retailers to promote the product is also expected to drive the market in the forecast period.
[Q]: What are the Major Challenges Faced by the Global Cookies Products Market?
[A]: The major challenges faced by the Global Cookies Products Market include increasing competition from substitutes such as crackers and other snack products, rising health concerns due to the high sugar and fat content in cookies, and the difficulty in maintaining the freshness of the product.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to be one of the major drivers for the Global Cookies Products Market. Manufacturers are introducing a variety of flavors, shapes, sizes, and textures to cater to the changing consumer preferences. Additionally, the introduction of low-fat and low-sugar varieties of cookies is also expected to drive market growth during the forecast period.
[Q]: Who are the Key Players in the Global Cookies Products Market?
[A]: The key players in the Global Cookies Products Market include Mondelēz International, Inc., The Kellogg Company, Nestlé S.A., Kraft Foods Group, Inc., B&G Foods, Inc., The Hershey Company, and Campbell Soup Company.
[Q]: Which Region Offers the Largest Opportunity for Sales of Cookies Products?
[A]: North America is expected to be the largest contributor to the Global Cookies Products Market, with an absolute dollar opportunity of $13.5 B (USD). The region is driven by increasing consumer demand for convenient snacks, rising disposable incomes, and the availability of a variety of flavors, shapes, and sizes.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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