1.
Market Size:
a. The global Cookies Market size is estimated at USD 12.14 billion in 2024, and is expected
to reach USD 18.77 billion by 2029, growing at a CAGR of 9.10% during the forecast period
(2024-2029).
b. The global Sugar-Free Cookies market size reached USD 4.33 billion in 2022 and is
expected to reach USD 6.43 billion by 2029, growing at a CAGR of 5.8% during the forecast
period.
c. The global Millet Cookie market is set to grow significantly at 4.6% CAGR from $87.9
Million in 2023 to $125.96 Million in 2030.
Target Market Size:
1. Bangalore
2. Kochi
3. Hyderabad
4. Chennai
1. TAM (Total Addressable Market):
Scope: The entire potential market for healthy millet cookies in each city.
Bangalore:
o Population: ~13 million.
o Health-conscious consumers: Assume 20% of the population.
o TAM: 2.6 million people * ₹500 per year = ₹1.3 billion.
Kochi:
o Population: ~3 million.
o Health-conscious consumers: Assume 20%.
o TAM: 600,000 people * ₹500 per year = ₹300 million.
Chennai:
o Population: ~11 million.
o Health-conscious consumers: Assume 20%.
o TAM: 2.2 million people * ₹500 per year = ₹1.1 billion.
Hyderabad:
o Population: ~10 million.
o Health-conscious consumers: Assume 20%.
o TAM: 2 million people * ₹500 per year = ₹1 billion.
2. SAM (Serviceable Available Market):
Scope: The segment of TAM that you can realistically target based on your current business
capabilities.
Bangalore:
o SAM: Assume you can target 20% of the TAM based on your distribution and
marketing efforts.
o SAM: 20% of ₹1.3 billion = ₹260 million.
Kochi:
o SAM: Target 20% of TAM.
o SAM: 20% of ₹300 million = ₹60 million.
Chennai:
o SAM: Target 20% of TAM.
o SAM: 20% of ₹1.1 billion = ₹220 million.
Hyderabad:
o SAM: Target 20% of TAM.
o SAM: 20% of ₹1 billion = ₹200 million.
3. SOM (Serviceable Obtainable Market):
Scope: The portion of SAM that you can realistically capture, considering competition and
market dynamics.
Bangalore:
o Competitive landscape: Assume you can capture 5% of the SAM due to
competition.
o SOM: 5% of ₹260 million = ₹13 million.
Kochi:
o Competitive landscape: Assume 5% capture.
o SOM: 5% of ₹60 million = ₹3 million.
Chennai:
o Competitive landscape: Assume 5% capture.
o SOM: 5% of ₹220 million = ₹11 million.
Hyderabad:
o Competitive landscape: Assume 5% capture.
o SOM: 5% of ₹200 million = ₹10 million.
Summary of TAM, SAM, and SOM Values:
City TAM (₹) SAM (₹) SOM (₹)
₹260
Bangalore ₹1.3 billion ₹13 million
million
₹300
Kochi ₹60 million ₹3 million
million
₹220
Chennai ₹1.1 billion ₹11 million
million
₹200
Hyderabad ₹1 billion ₹10 million
million
2. SWOT Analysis:
1. Strength: a. Low manufacturing cost
b. Convenience
c. Long shelf-life
d. Ability to serve important nutrients.
2. Weakness: a. There is a lack of awareness about the health benefits of millet to the general
public.
b. Millet-based products are typically more expensive than flour-based cookies, which price-
conscious consumers may seem to avoid.
3. Opportunities: a. The rising number of diabetes cases
b. Increasing demand for food with low calories
c. Sugar taxes imposed on sugary products are the main reasons driving the growth of the
sugar-free cookies market.
4. Threats: a. Competitive market – Well-established brands like Britannia and Sunfeast also
share a space in sugar-free and millet cookies.
Britannia Nutrichoice Essentials (Biscuits for Diabetic Patients)
Sunfeast Farmlite Digestive Oats with Almond Biscuits (Biscuit for Diabetes)
Ketofy – Choco Fudge Cookies
b. Economic downturns or fluctuations can impact consumer spending on premium-
priced health products, affecting sales
c. Navigating the regulatory environment for health claims and food safety can be
challenging and costly, impacting product launch timelines and marketing strategies
d. Consumer preferences can be fickle, with trends shifting rapidly. Keeping up with
evolving tastes while maintaining a focus on health benefits can be challenging
3. Competitive Landscape:
The competitive landscape for sugar-free millet cookies, especially with brands like Karachi
Bakery and Unibic India in the mix, is shaped by the growing demand for health-conscious
snacks and the entry of established brands into this niche market. Here’s an overview of the
competitive environment:
Key Competitors:
1. Karachi Bakery:
o Brand Positioning:
Karachi Bakery is a well-known brand, particularly in South India,
with a strong reputation for its traditional and innovative baked goods.
They offer a range of biscuits and cookies, and while they may not
specialize in millet-based or sugar-free options, their brand strength
and ability to innovate could make them a formidable competitor if
they enter this segment.
o Distribution and Reach:
Strong presence in retail stores, airports, and online platforms across
India, giving them extensive market reach.
2. Unibic India:
o Brand Positioning:
Unibic is known for its wide variety of cookies, including specialty and
health-oriented products.
They already have a line of healthy cookies, including those made with
oats and multigrains, and they are well-positioned to expand into
sugar-free millet cookies.
o Product Innovation:
Unibic has been quick to adapt to consumer trends, making them a
likely contender to launch sugar-free millet cookies if they haven’t
already.
o Distribution and Reach:
Available in major retail outlets and e-commerce platforms, giving
them a strong competitive advantage.
3. Soulfull (Tata Consumer Products):
o Brand Positioning:
Specializes in millet-based snacks and cereals, positioning them as a
strong player in the millet cookie market.
Their focus on health and wellness aligns well with the demand for
sugar-free products.
o Distribution and Reach:
Strong presence in urban markets and online, backed by the
distribution strength of Tata Consumer Products.
4. Slurrp Farm:
o Brand Positioning:
Focuses on millet-based, healthy snacks for children and families, with
a strong emphasis on nutrition.
They offer a range of products that are often gluten-free and lower in
sugar, making them a direct competitor in the sugar-free segment.
o Distribution and Reach:
Available in health food stores, online platforms, and supermarkets,
targeting health-conscious parents.
5. Local and Artisanal Brands:
o Brand Positioning:
Several small-scale bakers and startups are entering the millet and
sugar-free cookie market, often emphasizing organic ingredients and
traditional methods.
o Distribution and Reach:
These brands typically rely on e-commerce platforms, local health
stores, and farmer’s markets to reach their niche audience.
o Product Differentiation:
They often emphasize unique flavors, organic certifications, and
handcrafted quality to differentiate from larger brands.
Market Trends and Consumer Preferences:
1. Health and Wellness Focus:
o Increasing awareness of the health benefits of millets, combined with a
growing concern about sugar intake, is driving demand for sugar-free millet
cookies.
o Consumers are looking for snacks that offer not just taste but also health
benefits like low glycemic index, high fiber, and gluten-free options.
2. Dietary Preferences:
o The rise in dietary concerns such as diabetes, weight management, and overall
wellness has led to increased demand for sugar-free products.
o There is also a growing trend towards plant-based and vegan products, which
overlaps with the demand for millet-based snacks.
Challenges and Opportunities:
1. Price Sensitivity:
o Sugar-free and millet-based products are often priced higher than regular
cookies, which may limit their market to more affluent, health-conscious
consumers.
2. Consumer Education:
o While awareness is growing, there is still a need to educate consumers about
the benefits of millets and the importance of reducing sugar intake.
3. Innovation and Differentiation:
o Brands that can innovate with unique flavors, packaging, and additional health
benefits (like added proteins or superfoods) will have an advantage.
4. Distribution Channels:
o Expanding into online channels, health food stores, and even direct-to-
consumer models like subscription boxes can help brands reach their target
audience more effectively.
