The global protein cookie market was valued at US$ 27.16 Bn in 2018, according to Protein Cookie Market Report, by Flavor (Fruit & Dried Fruits, Chocolate, Nuts & Seeds, and Others (Spices, Oatmeal, etc.)), by Protein Source (Plant Source and Animal Source), by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online Stores, and Others (Grocery Stores, Departmental Stores, etc.)), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.
The global protein cookie market is projected to reach US$ 42.54 Bn by 2027, exhibiting a CAGR of 5.15% during the forecast period (2019-2027). Cookies are one of the most preferred products of the bakery industry. Cookies that contain protein supplements offer health benefits such as muscle strengthening, which is expected to fuel demand for protein cookies during the forecast period.
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According to sector trend analysis of bakery products published by Agricultural and Agri-food department of Canada in December 2016, the worldwide bakery market in terms of retail value reached to US$ 338.7 billion in 2015 from US$ 321.8 billion in 2014 with a CAGR of 4.7% from 2010 to 2015. Therefore, growing bakery industry is expected to propel demand for protein cookies over the forecast period.
Key Trends and Analysis of the Protein Cookie Market:
Key players operating in the protein cookie products market are focused on launching new products in order to enhance their market share. For instance, in November 2018, Hershey India Private Ltd. launched a new protein cookie product, with a brand name ‘Sofit Protein Cookies’. These protein cookies contain proteins along with omega-3, fibers, and vitamins and are offered in different flavors such as mango, cocoa, and resins.
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Browse 24 market data tables* and 12 figures* on “Protein Cookie Market” – Global forecast to 2027.
Key Takeaways of the Market:
Among flavors, the chocolate segment accounted for a significant market share in the protein cookie market in 2018, owing to sweet aroma, taste, and high nutritional contents of chocolate. Increasing cocoa production is expected to boost growth of the segment over the forecast period. For instance, according to Quarterly Bulletin of Cocoa Statistics published by International Cocoa Organization in August 2018, worldwide production of cocoa beans was 3997 thousand tons in crop year 2015 – 2016, which increased to 4730 thousand tons in crop year 2016 – 2017.
Among protein source, the plant source segment is expected to witness significant growth during the forecast period. This is owing to increasing awareness regarding health benefits offered by plant-based ingredients. Plant-based protein sources include, soy, rice bran, and pea. Major players in the market are focused on offering cookies that contain plant-based protein. For instance, Justine’s Limited offers Justine’s protein cookies, which contain soy protein isolate. These cookies are available in various flavors such as chocolate chips, raspberry, and peanut butter.
Among regions, Europe is expected to account for significant market share over the forecast period, owing to growing bakery industry in the region. According to Sector Trend Analysis – Dough Products, published by Agriculture and Agri-Food Department of Government of Canada, November 2017, Europe is the most dynamic region for value-added bakery products and during 2007 to 2016, the region launched the highest number of dough products in the world and experienced the highest retail sales for bakery products in the world. The report also stated that the global bakery retail sale was US$ 326,564.6 Mn, of which Europe accounted for US$ 123,205.8 Mn, in 2016.
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Major players operating in the global protein cookie market include, Lenny & Larry’s LLC, Quest Nutrition, The Hershey Company, Munk Pack, Justine’s Limited, NuGo Nutrition, No Cow LLC, Buff Bake, MuscleTech, and Xterra Nutrition
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