by The global Protein Cookie Market is estimated to be valued at US$ 31.91 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The protein cookie market comprises nutrition bars in cookie form that are high in protein content. These cookies are made from ingredients like whey, casein, soy, peas, nuts and grains to provide 10-15 grams of protein per serving. Protein cookies offer a convenient on-the-go snack option for active individuals and gym-goers to fulfill their daily protein needs. The taste and texture of protein cookies resembles regular cookies, making them a popular choice. Protein cookies help in muscle repair and development along with providing satiety between meals due to higher protein content.
Market key trends:
Plant-based protein sources are gaining immense popularity due to increasing vegan and flexitarian population. Plant-based protein sources like peas, nuts, lentils and rice provide essential amino acids for muscle building and recovery. Majority of the new product launches in the protein cookie market are based on plant proteins. For example, Lenny & Larry’s LLC recently launched plant protein based cookies made with pea and lentil proteins. Further, consumers are willing to pay premium prices for protein cookies with clean labels containing ingredients they can recognize. This has led manufacturers to remove artificial flavors, colors and preservatives from protein cookies. Furthermore, the advent of protein cookie flavors beyond regular chocolate chip has expanded the choice available to consumers, thereby boosting market growth.
Porter’s Analysis
Threat of new entrants: Low barrier to entry due to availability of raw materials and low production cost. However, established brands have strong brand recognition and distribution channels.
Bargaining power of buyers: High due to availability of substitute products. Buyers can switch to other protein snacks easily based on price and products.
Bargaining power of suppliers: Moderate due to availability of alternative raw material suppliers. However, manufacturers depend on consistent supply of quality ingredients.
Threat of new substitutes: High threat due to wide availability of alternative protein snacks like bars, shakes and cereals. Innovation and new product launches continuously increase substitute threats.
Competitive rivalry: Intense competition among existing players to increase market share. Companies focus on new product variants, flavors and marketing activities.
Key Takeaways
The Global Protein Cookie Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand for healthy and protein-rich snacks.
North America dominates the protein cookie market and is expected to continue its dominance over the forecast period. Increased health consciousness and high disposable income are factors driving the North American regional market.
Key players operating in the protein cookie market are Lenny & Larry’s LLC, Quest Nutrition, Munk Pack, Justine€TMs Limited, NuGo Nutrition, No Cow LLC, Buff Bake, MuscleTech, Xterra Nutrition, and The Hershey Company. Key players focus on new flavors, variety of protein types and quality ingredients to expand their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
