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Cookie, Cracker, Pasta, And Tortilla Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Cookie, Cracker, Pasta, And Tortilla Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • January 2021
  • 300 pages
  • ID: 6018868
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the cookie, cracker, pasta, and tortilla products market include Mondelez International; Kellogg Co; Campbell Soup Co.; Gruma SAB de CV and Tyson Foods.

The global cookie, cracker, pasta, and tortilla market is expected to grow from $276.84 billion in 2020 to $296.25 billion in 2021 at a compound annual growth rate (CAGR) of 7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $390.66 billion in 2025 at a CAGR of 7%.

The cookie, cracker, pasta, and tortilla products market consists of sales of cookie, cracker, pasta, and tortilla products by entities (organizations, sole traders and partnerships) that produce cookie, cracker, pasta, and tortilla products. The companies in the cookie, cracker, pasta, and tortilla products industry produce cookies and crackers, or prepare flour and dough mixes and dough from flour ground elsewhere or manufacturing dry pasta. The establishments in this industry may package the dry pasta they produce with other ingredients. The companies package and distribute their products through various distribution channels to both individual customers and commercial establishments. The cookie, cracker, pasta, and tortilla products market is segmented into cookie and cracker; dry pasta, dough, and flour mixes and tortilla.

Asia Pacific was the largest region in the global cookie, cracker, pasta, and tortilla market, accounting for 45% of the market in 2020. Western Europe was the second largest region accounting for 26% of the global cookie, cracker, pasta, and tortilla market. Africa was the smallest region in the global cookie, cracker, pasta, and tortilla market.

Companies manufacturing cookie, cracker, pasta and tortilla are increasingly using NIR analyzer technology for moisture analysis of the product. Near-Infrared (NIR) analysis is a spectroscopic technique that makes use of the naturally occurring electromagnetic spectrum region of wavelengths between 700nm and 2500nm. The flour used in manufacturing can vary considerably in its protein quality, protein quantity, moisture, enzymatic activity, color, and physical properties when obtained from different sources. The Near-infrared spectroscopy (NIR) method estimates the moisture content of flour and regulates it to an optimal level set by an operator. NIR moisture analyzer can help save energy and improve quality of the product. For instance, MoistTech Corp® is used by a majority of manufacturers for checking moisture content during production process.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the cookie, cracker, pasta, and tortilla manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Food and beverage manufacturers depend on supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to lack of raw materials. Also, restrictions on trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the cookie, cracker, pasta, and tortilla manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

The cookie, cracker, pasta, and tortilla market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments in the end user markets, thereby driving the market during forecast period.

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