by The global 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.
Market Overview:
Protein cookies are popular snack items that contain a rich source of plant-based or whey protein. These cookies aim to provide a convenient way for individuals to meet their daily protein requirements without compromising on taste. Protein cookies come in various flavors and contain essential amino acids, vitamins, and minerals that offer various health benefits such as supporting muscle growth and repair. The rising health consciousness among people and focus on fitness has boosted the demand for protein-enriched snacks like protein cookies.
Market Key Trends:
One of the key trends in the protein cookie market is the increasing launches of gluten-free and vegan protein cookie variants by manufacturers. With growing health awareness and cases of gluten intolerance, there is substantial demand for gluten-free snacks. Several players have introduced innovative protein cookie products that are free of gluten, dairy, soy, and eggs to cater to vegan consumers. Another trend gaining ground in the market is the emergence of protein cookie snacks targeted towards specific wellness goals like weight management, digestion support, bone health etc. Players are coming up with functional protein cookie formulations infused with supplementary ingredients like probiotics, fiber, plant sterols etc. to provide multi-benefit properties and differentiate their offerings.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the protein cookie market is low as it requires high capital investments to build manufacturing facilities and distribution channels. Also, established brands have strong brand loyalty which acts as a deterrent.
Bargaining power of buyers: The bargaining power of buyers in the Protein Cookie Market is high. Buyers have a wide range of alternatives available from different brands. Also, the product being commoditised in nature, buyers can switch to substitutes easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are many raw material suppliers, the brands have control over quality and supply of ingredients. Supplier switching costs are also low.
Threat of new substitutes: The threat of substitutes is high as there are many protein bar and snack alternatives available in the market. innovative products are continuously entering the market.
Competitive rivalry: The competitive rivalry in the protein cookie market is high due to presence of many global and regional players competing on the basis of product quality, taste, price and marketing.
Key Takeaways
The global protein cookie market is expected to witness high growth, exhibiting CAGR of 5.94% over the forecast period 2023-2030, due to increasing health consciousness among consumers. The rising trend of on-the-go snacking and awareness regarding protein-rich foods is fueling the market growth.
Regional analysis indicates that North America dominates the global protein cookie market, accounting for over 35% share in 2022. Evolving lifestyle, increasing health issues and focus on fitness are driving demand in the region. Asia Pacific is projected to be the fastest growing market owing to growing youth population, rising disposable incomes and changing dietary patterns in countries like China and India.
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. Players are focused on product innovation, expanding regional presence and strategic mergers & acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
