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Cookie And Cracker Market Size, Drivers, Trends, Competitors And Forecast 2024-2033
Cookie And Cracker Market
The cookie and cracker market size is expected to see steady growth in the next few years. It will grow to $122.06 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to innovation in flavors and formats, sustainability and ethical practices, changing demographics, global expansion and emerging markets, health and wellness trends. Major trends in the forecast period include digital marketing and e-commerce, technology and automation, snacking on-the-go, clean label movement, personalization and customization.
Market Overview -
Cookies and crackers refer to low-moisture baked goods that absorb less water and contain little damaged starch or water-soluble pentosans. These go well with dips, jam, fruit preserves, or peanut butter
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Rising Demand For Bakery Products Propels Growth In The Cookies And Crackers Market
The growing demand for bakery products is expected to boost the growth of the cookies and crackers market going forward. Bakery products refer to goods that are often made from flour or other grains. Bakery producers are increasingly altering their product offerings to accommodate changing consumer tastes and requirements such as less fat and high nutritional value food items. These foods are high in calories and nutritional value. Due to these advantages, there is an increasing demand for bakery items, which is likely to enhance the cookies and crackers market. For instance, in October 2022, according to a stat sourced from Euromonitor International, 2022 published on Government of Canada official website, retail sales of baked goods in US reaching $67.9 billion in 2021 and is expected to reach US$75.8 billion in 2026. Therefore, the growing demand for bakery products is driving the growth of the cookies and crackers market.
Competitive Landscape -
Major companies operating in the cookie and cracker market report are Mondelez International, Nestle S.A, PepsiCo Inc., Danone SA, General Mills Inc., Grupo Bimbo S.A.B. de C.V., Kellanova, Ferrero Group, Pladis Global, The Hershey Company, Yamazaki Baking Co., Ltd., Campbell Soup Company, ITC Limited, Meiji Holdings Co., Ltd., United Biscuits Ltd., Flowers Foods Inc., Parle Products Pvt. Ltd., Britannia Industries Limited, Délifrance, Hostess Brands Inc., Premier Foods Group Limited, Lotus Bakeries, Kambly SA, Sara Lee Frozen Bakery, Burton's Biscuit Company, Walkers Shortbread Ltd., Naturell Pvt. Limited, Interstate Bakeries Corp., M.Y. San Corporation, Munchy Food Industries Sdn. Bhd.
The Hershey Company Introduces Reese's Dipped Animal Crackers To Drive Market Presence And Delight Consumers
Product innovation is the key trend gaining popularity in the cookies and crackers market. Major companies operating in the cookies and crackers market are focusing on developing new products to sustain their market position. For instance, in January 2023, The Hershey Company, a US-based manufacturer and marketer of chocolate and sugar confectionery products, launched Reese's Dipped Animal Crackers. Reese's Dipped Animal Crackers are bite-sized, animal-shaped crackers that are completely covered in peanut butter candy and partially dipped in milk chocolate to achieve the delightful Reese's flavor. Reese's Dipped Animal Crackers come in 4.25-oz bags with 13 various animal forms, such as lions and bears.
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Key Segments -
The cookie and cracker market covered in this report is segmented -
1) By Type: Cookies, Crackers
2) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Specialty Stores, Online Stores
3) By Application: Restaurants, Home, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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