Cookies Market Overview:
The Cookies Market will obtain a USD 45.4 billion value and a CAGR of 6.43% between 2024-2030.
The South Korea Cookies Market is a dynamic and rapidly growing sector within the snack food industry, driven by changing consumer lifestyles and preferences. Cookies, ranging from traditional Korean varieties to international favorites, hold a prominent place in South Korean snacking culture. Market players in South Korea cater to diverse tastes by offering a wide range of cookie varieties, including classic favorites, artisanal creations, and health-conscious options. Advanced manufacturing techniques and packaging innovations ensure product freshness and quality, while stringent food safety regulations uphold consumer confidence in the South Korean cookie market. With a strong distribution network encompassing supermarket, convenience stores, and online platforms, cookies are readily available and accessible to consumers across South Korea. As consumer demand for convenient and flavorful snacks continues to rise, the South Korean cookie market presents significant opportunities for further growth and expansion within the industry.
The Cookies Market is expanding rapidly due to the rising population and increased consumption, particularly among consumers following non-staple diets.
The main driver of the market's expansion is the population's rising desire for goods made in bakeries. Other factors influencing the market's expansion include the strengthening economy and rising disposable income. However, the price of raw materials and rising manufacturing costs are anticipated to restrain market expansion.
Due to the rise in chronic diseases, consumers worldwide are becoming more health conscious and gravitating toward gluten-free cookies. One of the main factors propelling the growth of the cookies market is the key players' focus on introducing healthier oatmeal raisin cookies and snickerdoodles with natural flavours. In comparison to chocolate and chocolate chip cookies, oatmeal cookies are healthier. This is especially important for health-conscious customers who value products that fit their active lifestyle. As more bakeries strive for non-GMO Project certification, the rising demand for clean-labelled cookies is predicted to alter the market's dynamics.
The COVID19 wave has negatively impacted several industries, and sales and revenue are declining. According to the cookies industry study report, the sector has numerous difficulties, just like any other sector. The industry utilises fresh tactics to advance the procedures to meet these issues. The industry successfully raises the sales rate among the targeted audience by adhering to those procedures. COVID 19 has impacted cookie production due to a shortage of transportation and social segregation policies.
Regional Analysis:
Europe, North America, Asia-Pacific, and the Rest of the World are the four market segments that make up the worldwide cookies market. The Asia Pacific region accounts for the largest portion of them all. Following that, China, Australia, and India are the principal nations propelling the agricultural market for cookies. The cookies market is dominated by Europe, the third-largest shareholder nation, with North America coming in second. The two biggest nations controlling the European cookie market are the United Kingdom and Germany.
Key Players:
Major Key Cookies Market Companies, including Mondelēz International, Britannia Industries, Jiashili Group Limited, Nestlé SA, Burton's Biscuit Company, Lotus Bakeries NV, Leibniz-Keks, Kellogg Co, Kraft Foods, Mars Inc., United Biscuits, and Want Want Group, and others, are attempting to increase market demand by funding R&D initiatives.
Segmentations:
The Cookies Market is divided into different segments.
The market is divided into Bar, Drop, Molded, Rolled, and Others based on product. Due to its long history in the consumer food list, the bar category, which dominated the market in 2019, is anticipated to maintain its dominance over the forecast period. Drop, Molded, Rolled, and the other processes come after it, in that order.
The market is divided into Specialist Retailers, Online Retailers, Hypermarkets/Supermarkets, Convenience Stores, and Others based on the distribution channel. In 2019 the market was dominated by speciality retailers, and this trend is anticipated to hold during the projection period.
Recent Developments:
In August 2021, Mondelez International and MissFresh, an online marketplace, launched OREO's new line of sandwich cookies without added sugar, Oreo Zero, in China.
The Campbell Soup Company launched gluten-free Farmhouse Thin and Crispy milk chocolate chip cookies and crisp butter cookies in January 2020 to expand the market for its Pepperidge Farm brand.
Jimmy's Cookies announced in 2021 that it would purchase from Campbell Soup Co. the bread brand Ecce Panis and its South River, New Jersey-based bakery facilities.
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