Cookie And Cracker Global Market Report 2023
Major players in the cookie and cracker market are Britannia Industries Limited, Nestle S.A, Parle Products Pvt. Ltd., Premier Foods Group Limited, Sara Lee Frozen Bakery, Grupo Bimbo, S.A.B. de C.V., Kellogg Co.
New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cookie And Cracker Global Market Report 2023" - https://www.reportlinker.com/p06463967/?utm_source=GNW
, Interstate Bakeries Corp, Flowers Foods, Hostess Brands Inc., Délifrance USA, United Biscuits, Mondelez international, PepsiCo Inc., and Campbell Soup Company.
The global cookie and cracker market is expected to grow from $109.20 billion in 2022 to $116.19 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cookie and cracker market is expected to reach $140.79 billion in 2027 at a CAGR of 4.9%.
The cookies and crackers market consists of sales of soda crackers, graham crackers, sprayed snack crackers, drop cookies, bar cookies, and rolled cookies.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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
Europe was the largest region in the cookie and cracker market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in cookies and cracker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cookies and crackers are cookies and crackers.Cookies refer to little cakes formed from stiff, sweet dough baked on a large, flat baking sheet and cut into slices or spoonfuls.
The various distribution channels are supermarkets or hypermarkets, convenience stores, specialty stores and online stores which are used by restaurants, homes and others.
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 a stats sourced from Euromonitor International, 2022 published on Government of Canada offical webiste, 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.
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 flavour.
Reese’s Dipped Animal Crackers come in 4.25-oz bags with 13 various animal forms, such as lions and bears.
In December 2021, Hearthside Food Solutions LLC, a US-based manufacturer of grain-based food and snack products acquired Weston Foods Ambient Division assets for an undisclosed amount.Through this acquisition, the Hearthside network will have an enlarged customer base of renowned food companies and 1,100 full-time employees which will increase the Hearthside network to 43 locations across the US, Europe, and Canada.
Weston Foods is a Canada-based food production company that produces bread, rolls, and other baked goods.
The countries covered in the cookies and cracker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cookie and cracker market research report is one of a series of new reports that provides cookie and cracker market statistics, including cookie and cracker industry global market size, regional shares, competitors with cookie and cracker market share, detailed cookie and cracker market segments, market trends, and opportunities, and any further data you may need to thrive in the cookie and cracker industry. This cookie and cracker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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