Global Cookies Market: Brief Overview
Cookies are consumed as a snack product and are increasingly popular among the population bass present worldwide. Frequent product Innovations as for the dynamic changes and desires of customers are boosting the demand for cookies. Market players are increasingly enticing customers with new flavours and Innovative Packaging. The use of safe ingredients as well as low sugar and low calorie products are making cookies popular even with the health conscious consumers. The growth of the income of the people present in the world as well as an overall Improvement in the economy of the world are important factors behind the rising demand for cookies. It has been observed that the younger population are more inclined towards purchasing cookies. Cookies also make a good gifting option along with chocolates. All these factors are anticipated to drive the growth of the global cookies market in the years to come.
Global Cookies Market: Drivers and Trends
A key factor linked with the high consumption of cookies is rapid urbanization. With strategic marketing methods employed to entice new customers, the cookies Market stands to benefit greatly. On the other hand, the manufacturing of cookies requires high input cost, which ultimately results in the high cost of the end product. While high-priced cookies are still popular within the developed markets, the same cannot be said for the underdeveloped Nations where high cost is a sensitive issue. This is anticipated to restrict the growth of the cookies Market.
The cookies market is also threatened by the availability of alternative products such as biscuits and chocolates which enjoy high demand from consumers. On a bright note however, manufacturers are constantly striving to develop cookies as per the changing preferences of consumers, by developing products with enhanced flavours, different ingredients, healthier ingredients, and attractive Packaging. This is anticipated to insure that the cookie Market grows.
On the basis of type, the global cookie Market is segmented into dropped, bars, pressed, sandwich, molded, and refrigerated. Among these, the most preferred type of cookies is the drop cookies. The fastest growth however, is expected to be witnessed by the refrigerated and bar cookies. The cookie Market is segmented into supermarkets, speciality stores, convenience stores, and departmental stores.
Global Cookies Market: Geographical Analysis
On the basis of geography, this Market is segmented into North America, Europe, Asia Pacific, and the rest of the world. While North America and Europe are lucrative markets for cookies and are among the top two Regional markets for the same, it is anticipated that the developing nations of India and China in Asia Pacific are also emerging as lucrative and promising markets for cookies. Japan and Brazil are also anticipated to provide growth opportunities for players within the cookies Market. With a growing influence of the western culture, these countries are steering their way to words eating cookies as a snack item and this will drive the growth of the market.
Global Cookies Market: Companies Mentioned
Mondelez International, Kraft Foods, Nestle S.A., Nutrexa, and United Biscuits are the top manufacturers of cookies.