The global cookies market size is anticipated to reach $44 billion by the year 2025, according to a new report by Million Insights. The increasing popularity for snack products like cookies owing to the advantage like on-the-go consumption is the major factor driving the market growth during the forecasted period, 2019 to 2025. Also, the rise in the preference for gluten-free cookies due to increasing in the preference for health consciousness among the consumers is expected to drive the market growth during the forecasted period.
Rising urbanization along with the increase in the level of disposable income among the working population across the emerging economies of India and China is leading the market growth. Also, the rising preference of packed foods due to the flexibility of having it while traveling or carrying out any other tasks acts as a major driver.
With the ongoing global pandemic of coronavirus, business organizations are constantly making structural changes for their survival and simultaneously global businesses are offering a shoulder to front line staff, sanitation workers, and migrant labourers. Hershey India has recently announced that it will distribute more than one lakh fortified cookies and beverages across major cities as a token of gratitude to front line workers, police personnel, and underprivileged children. Products such as Sofit Almond Milk, Sofit Protein Cookies, Hershey’s Milk Shake are some of the distributed products. The distribution would happen under the collaboration with Food Banking Network (IFBN) of the Food Security Foundation India. Going forward, it also plans to take some initiatives to distribute some of the products to medical staff of AIIMS in Bhopal and Mumbai.
As the demand for such cookies is increasing continuously across the developed regions, the manufacturers have started to develop new techniques to maximize production with minimum cost, the report said. They have also started investing more in R&Ds to develop a variety of products using various flavors and ingredients as per the consumer demands. They are also focusing on the creation of attractive packaging in order to attract small consumers. These factors are expected to propel the cookies market growth during the forecasted period.
The rise in the healthy dietary habits among the millennials is expected to surge the demand for oats and digestive cookies in the upcoming years. This trend is expected to boost the demand for such cookies in the developed and developing regions across the globe. The manufacturers have also started serving the regional demands of the consumers based on their individual liking and their willingness to spend on such products. Thus, the market for cookies is anticipated to boost in the upcoming years.
