Once thought of as a luxury and indulgence for customers with discerning tastes, the global cookie market has come into its own now and is an intrinsic component in the overall biscuit market. Cookies are a type of flat-baked treat consumed as a snack on all occasions.
Product innovations primarily on account of safety and fitness concerns have changed the game in the global cookie market. Cookie vendors are experimenting with newer flavors, attractive packages, and safer ingredients to grow the target audience in the global cookie market that is expected to push past a value of US$ 38 billion by end 2022.
Chocolate Segment a Perennial Favorite in the Cookie Market
The chocolate segment is the most popular and accounts for a revenue share exceeding a quarter of the ingredient segment in the cookie market in 2017. Chocolate is desired by demographics both young and old and can be thought of as an evergreen flavor. The chocolate cookies segment is on track to record a robust CAGR of more than 6% for the forecast period, making it an extremely lucrative opportunity.
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Chocolate chip cookies closely follow chocolate ones and have a revenue share of a fifth of the global cookie market. Chocolate chip cookies are anticipated to have the greatest scope in the populous APEJ region as the continent is predicted to cross a value of two billion dollars by the end of the forecast period.
Oatmeal Best Choice for Health-Conscious Customers in Cookie Market
Oatmeal cookies are a healthier alternative to chocolate cookies and chocolate chip cookies and can be marketed in the cookie market as such. This is especially relevant for the health-conscious consumers who attach a high level of importance to products that suit their active lifestyle. The oatmeal segment is projected to have a revenue share of slightly over a sixth of the cookie market in 2017 and is likely to gain share going forward.
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APEJ alone contributes more than a quarter of the revenue share in the oatmeal segment. However, companies can also try to target North America as it is predicted to witness a higher growth rate throughout the duration of the forecast period.
Bar Cookies Preferred Option in the Global Cookies Market
Bar cookies are a favored choice in the cookie market by product type segment and this should remain till the end of 2022. The value of both the APEJ and North America bar cookie segment is assessed to be more than US$ 2 billion by the end of the study and stakeholders in the cookie market are advised to take this into account.
Drop cookies are a comparatively smaller segment in comparison but they can hardly be overlooked entirely. Companies that wish to enter the drop cookies segment should devise unique strategies that help them stand out from their closest competition in the global cookie market.
Competition Dashboard in the Cookie Market
Persistence Market Research has profiled the companies actively involved in the cookie market. Some of these are Mondelez International, Kellogg Co., Campbell Soup Co., Nestle SA, United Biscuits, PepsiCo, M. Dias Branco, Britannia Industries, Barilla G. e R. Fratelli, and Arcor U.S.A.