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.
Albany, NY -- (SBWIRE) -- 08/02/2017 -- Cookies are considered as flat baked treat that are usually as a snack or at the end of a meal. Cookies are cooked bakery products and are usually made from flour, sugar and oils and fats. Other common ingredients used in cookies include oats, raisins, chips and nuts among others. This cookie 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 the cookie 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.
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.
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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 cookies become 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 cookies market as the alternatives usually come at a cheaper price when compared with cookies. Further, the cookie market is also held back by the widespread demand for alternative products such as other forms of savory biscuits and chocolates. These products have fair demand among the consumers, thus posing as a barrier to the growth of the cookie market, at the global level.
Further, product innovations in the field of cookies undertaken by the major manufacturers due to the changing preference of the consumers are expected to pose as a suitable opportunity for the growth of the cookie market in the future.
The developing regions such as India, China, Brazil, and Japan among others pose as a suitable opportunity for the growth of the cookies market in the future. Strengthening economic condition in these countries is 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.