The presence of established players, such
as Barilla G. e R. Fratelli S.p.A, Campbell Soup Co., Arcor U.S.A.
Inc., Mondelez International Inc., United Biscuits Ltd., Nestle SA,
PepsiCo Inc., Britannia Industries Ltd., M. Dias Branco SA, and
Kellogg Co., points towards a highly fragmented and competitive
business landscape in the global cookies market, states a new
research report by Persistence Market Research (PMR). Due to the
intensive rivalry between the leading players, the degree of
competition within this market is significantly high and the scenario
is likely to remain so over the forthcoming years, thanks to
innovations, cookie vendors are making in terms of flavor,
ingredients, and packaging, notes the research study.
According to the research report, the
global market for cookies is projected to expand at a CAGR of 5.80%
over the period from 2017 to 2022 and increase to US$38 bn by the end
of the period of the forecast. Currently, chocolate cookies are
witnessing the most prominent demand among consumers, especially the
younger ones. Researchers at PMR predict this trend to continue in
the years to come, thanks to the augmenting popularity of chocolates
across the world, and result into the rise of the chocolate cookies
segment at a CAGR of more than 6% between 2017 and 2022. North
America and APEJ have surfaced as the prime regional markets for
cookies. With the extensively widening consumer base, both the
regional markets are likely to retain their spots over the next few
years, reports the research study.
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Primarily, the worldwide market for
cookies is driven by the continual introduction of novel and
innovative products in the global marketplace. The taste, flavor,
shape, nutrients, and packaging are the main areas of innovation
among cookie vendors across the world. The increasing urbanization
and the rise in disposable income of consumers across the world are
also important factors behind the growth of this market.
Over the forthcoming years, the market is
expected to benefit from the advent of healthy cookies, which means
cooking made up with oatmeal. The augmenting concerns over the
adverse effect of cookies, which is high in carbohydrate, on health
and fitness and the rising awareness about the advantages of oatmeal
are projected to stimulate this market in the years to come, states
the research report.
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Among the type of cookies, bar cookies
acquire the leading position. Analysts expect the bar cookie segment
to maintain its dominance over the next few years thanks to the high
demand for bar cookies in North America and Asia Pacific excluding
Japan. The APEJ and North America bar cookie markets, collectively,
are likely to surpass US$2 bn in revenues by the end of the forecast
period.
Among other types of cookies, drop
cookies, which currently have a relatively smaller market presence,
is gaining considerable impetus across the world, converting into one
of the most promising cookie type segment with potential that cannot
be overlooked. Companies, which are looking to enter the drop cookies
segment are advised to formulate unique strategies, which can help
them gain a competitive edge over their rivals in this market, states
the research report.
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The review is based on a report by
Persistence Market Research, titled “Global Market Study on
Cookies: Chocolate Cookies Remain Popular Across all Demographics
Young and Old.”
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