According to a recent report from Grand View Research, the global cookies market is projected to reach $44.01 billion by 2025 with a compounded annual growth rate of 5.3 percent. Factors contributing the increase stem from rising product popularity and increasing demand for on-the-go snacks in developed markets, including Germany and the U.K. Additional market drivers include:
- Increasing demand for gluten-free cookies.
- The bar product segment led the market in 2018 and is expected to maintain its dominance due to the increasing popularity of these product form.
- Online channels are expected to account for more than 19.8 percent of the global share by 2025.
- North America generated a revenue of $10.42 billion in 2018. Impulsive purchases by people of all age-groups is projected to remain a favorable factor in this region.
- Asia-Pacific is expected to account for more than 25 percent of the total revenue by 2025. Changing lifestyle and rising disposable income in emerging countries are likely to open growth avenues for the market
- Development of products in chocolate and fruit extract variants is projected to remain one of the key strategies among manufacturers.
- Manufacturers are focusing mainly on product innovations, in terms of flavors, ingredients, packaging, etc. This factor are is also likely to propel market development in the next few years.