by The protein cookie market is estimated to be valued at US$ 30.12 Bn in 2022 and is expected to exhibit a CAGR of 5.94% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Protein cookies are baked goods that contain higher amounts of protein in comparison to regular cookies. They usually contain 15-20 grams of protein per serving and come in different flavors like chocolate chip, peanut butter, oatmeal raisin, etc. Protein cookies are convenient snacks that provide sustained energy and help curb hunger between meals. They are popular among health-conscious individuals, gym-goers, and athletes looking to build muscle mass. The easy portability and shelf-stability of protein cookies make them ideal for on-the-go consumption.
Market Dynamics:
The protein cookie market is driven by rising health consciousness among consumers and growing demand for convenient on-the-go snacks. People are increasingly adopting active lifestyles and looking for snacks that provide functional benefits like protein and fiber in addition to taste. Protein cookies satisfy their hunger needs and also help maintain muscle mass and overall well-being. Furthermore, busy consumer lifestyles have fueled the demand for snacks that can be easily carried and consumed anywhere without preparation. The long shelf-life of protein cookies makes them a suitable option for snacking on the go. Additionally, aggressive promotion by manufacturers through influencer marketing and product sampling has also contributed to increasing awareness and popularity of protein cookies.
Segment Analysis
The Protein Cookie Market can be segmented into gluten-free and conventional cookies. The gluten-free segment is dominating the market as there is an increasing demand for gluten-free products owing to the rising number of people suffering from celiac disease and gluten intolerance. The gluten-free segment accounts for around 60% of the overall protein cookie market share.
PEST Analysis
Political: There are various regulations governing the food and beverage industry regarding the use of ingredients, labeling, and marketing. Stricter norms to promote consumer health and awareness are influencing the protein cookie market.
Economic: The rising disposable income and growing health consciousness are fueling the demand for protein-rich snacks. However, inflation and high production costs pose challenges.
Social: Changing lifestyles and busy schedules have increased the demand for on-the-go healthy snacks. Protein cookies are gaining traction among health-conscious consumers and athletes.
Technological: Advanced manufacturing technologies enable producing protein cookies using varied ingredients. Technologies for extending the shelf life and improving the taste and texture of protein cookies are boosting the market.
Key Takeaways
The global protein cookie market size is expected to witness high growth, exhibiting a CAGR of 5.94% over the forecast period, due to increasing health awareness among consumers. The North American region dominates the market owing to the increasing consumption of protein-rich snacks boosted by trend of fitness culture.
Regional analysis: The North American region dominates the global protein cookie market, accounting for over 35% of the overall share in 2022. The increasing prevalence of fitness culture and the growing popularity of protein-enriched snacks are driving the regional market. The Asia Pacific region is anticipated to be the fastest-growing market during the forecast period.
Key players: Key players operating in the protein cookie market are Lenny & Larry’s LLC, Quest Nutrition, Munk Pack, Justine’s Limited, NuGo Nutrition, No Cow LLC, Buff Bake, MuscleTech, Xterra Nutrition, and The Hershey Company. These players are focusing on developing innovative flavors and introducing gluten-free options to expand their market reach.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
