World News: 14:35 GMT Monday 27th May 2019. [Technavio Research via Businesswire via SPi World News]
The global cookies market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global cookies market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global cookies market is the rising demand for natural and health-centric products. Consumers worldwide are increasingly becoming aware of the health implications of artificial sugar and gluten products. Thus, the need for cookies that are made of healthy and natural ingredients such as dry fruits, nuts, and superfood seeds is increasing significantly across the world. As a result, cookie manufacturers are increasingly focusing on using raw and non-GMOs ingredients that offer higher nutritional value as raw materials for their cookies. Hence, this shift in consumer perception of cookies from conventional food to a nutritious snack will increase the demand for natural and health-centric products, thereby, fueling the growth of the cookies market during the forecast period.
As per Technavio, the rising popularity of clean labeled cookies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global cookies market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global cookies market: Rising popularity of clean labeled cookies
With growing consumer awareness about the health implications of different ingredients, many countries such as the US, the UK, and Germany are adopting stringent regulations to ensure transparency in product formulation and labeling. As a result, the cookies market is witnessing a growing trend of clean labeling that simplifies the production process of cookies by using as few ingredients as possible. Moreover, manufacturers are using minimal ingredients while ensuring that these ingredients are recognized and perceived as wholesome by consumers.
“The cookies market has been witnessing a period of consolidation over the past few years. A number of established international market players have been emphasizing on M&A activities to widen their product portfolios, production capabilities, and market outreach. Thus, the rising trend of consolidation will result in established players further expanding their product volumes and capturing significant market shares. This will lead to the growth of the cookies market during the forecast period,” says a senior analyst at Technavio for research on capital goods.
Global cookies market: Segmentation analysis
This market research report segments the global cookies market by product (plain and butter-based cookies, chocolate-based cookies, and other cookies) and geographic regions (APAC, Europe, MEA, North America, and South America).
The European region led the market in 2018, followed by North America, APAC, South America and MEA respectively. The consumer demand for cookies in Europe has evolved from convenience-based products to wholesome and health-based snacks. Consequently, many vendors in the market are expanding their product portfolio of functional and health-centric cookies. The cookies market in Europe is expected to witness consolidation activities with critical players looking to get involved in mergers and acquisitions (M&A) during the forecast period.
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Five Forces Analysis
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Business Wire: 14:35 GMT Monday 27th May 2019
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