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Cookies Market is driven by transition in the lifestyle of the consumers in terms of feeding habits

Cookies Market is driven by transition in the lifestyle of

Cookies are cooked bakery products and are usually made from flour, sugar and oils and fats. Other common ingredients include oats, rasins, chips and nuts among others. This market is entirely dependent on consumer indulgence and the same is witnessing a major surge in terms of growth over the past few years. They are usually consumed as a snack product. Some of key factors responsible for the growth of this market include frequent product innovations due to changing preference of the consumers. Use of new flavors, innovative packaging and safe ingredients are some of the other factors driving the demand for cookies at the global level.

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Transition in the lifestyle of the consumers in terms of feeding habits has brought about a change for the cookies industry. In recent times, consumers are shown to have increased inclination towards different types of cookies. This is also backed by higher disposable income of the consumers. The younger population is a lucrative target audience for the manufacturers of cookies. In 2016, approximately 70% of the population in the U.S. has shown preference for cookies and this is only expected to increase in the future. Rapid urbanization is another major factor driving the demand for cookies.

However, high input cost with regards to cookie manufacturing is a major factor hindering the growth of the market. Due to the high input cost, the price of the final product becomes significantly and this factor repels price sensitive consumers from buying such products. Further, high competition from the available alternatives is barring the continuous growth of the market as the alternatives usually come at a cheaper price when compared with cookies.

The developing regions such as India, China, Brazil, and Japan among others pose as a suitable opportunity for the growth of the market in the future. Strengthening economic condition in these countries are expected to lure the manufacturers operating in this industry to target these countries for expansion opportunities. Further, influence of the western culture in terms of feeding habits among the consumers in these countries is also expected to stir the growth of the market in the future. Additionally, more emphasis in premium cookies would also ensure stable growth of this market in the future.

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Based on type, the cookie market is segmented into bars, sandwich, drop, pressed, refrigerated and molded among others. Drop cookies are the most preferred type among the consumers. However, refrigerated and bar cookies are expected to maintain a fast growth rate during the forecast period.

The market is also segmented on the basis of distribution channel into specialty stores, supermarkets and hypermarkets, departmental stores and convenience stores.

The market is also classified on the basis regions into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Europe dominated the market in 2016, with the leading countries being Italy and Spain. North America followed closely after Europe, with U.S. being the major contributor. Asia Pacific recorded the fastest growth during the forecast period due to increasing urbanization and rising disposable income of the consumers.

The global cookies market is marked by some intense competition from the major players operating in this market. Innovations with regards to flavor, and packaging, strategic mergers and acquisitions, joint ventures and partnerships and expansions are some of the major strategies adopted by these players to ensure long term sustenance in this market. Some of the major players in this market include Mondelez International, Kraft Foods, Nestle S.A., Nutrexa, and United Biscuits among others. Mondelez International is engaged in extensive research and development activities to bring out new varieties for its consumers. ITC Ltd. is also engaged in bringing out digestive cookies.

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TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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