Biscuits Market

According to Stratistics MRC, the Global Biscuits Market is accounted for $117.11 billion in 2022 and is expected to reach $156.94 billion by 2028 growing at a CAGR of 7% during the forecast period. Biscuits are flour base baked food products, typically hard, flat, and unleavened. Biscuits are made from flour, added sugar, butter, leavening agents, and additional components that vary in flavour. Biscuits are baked delicacies that come in a variety of flavours, tastes, sensations, and shapes. Nuts, chocolate flavour, sandwich filling, milk, chocolates, fruit, jam, or Chocó chips can all be used to make biscuits. People all throughout the world eat biscuits as snacks instead of a full meal.

According to an independent research study, an increasing number of individuals are avoiding gluten-containing foods, despite the fact that the prevalence of celiac disease has remained stable in recent years. This opens up opportunities for bakery manufacturers to introduce gluten-free sweet biscuits to the market.



Market Dynamics:

Driver:

Growing demand for healthy biscuits among millennials

Factors such as product advancements in the food sector and the use of premium ingredients, biscuit demand has surged the market rate. Millennials who choose ready-to-eat meals to stay in shape are drawn to biscuits in a variety of varieties, including those made with multiple grains, ragi, and oats. Additionally, bakery producers are luring customers with cutting-edge packaging options, which are predicted to promote development.

Restraint:

High cost raw materials

Over the projected period, it is anticipated that significant factors including rising manufacturer competition and high raw material costs will restrain the growth of the global market. As a result of the presence of several companies producing items at various price points, the market is being impeded by fierce competition. The high cost of raw materials and the escalating tax burden on the industry must be resolved for the biscuit market to flourish soon.

Opportunity:

Rising in variety of applications

The world's expanding urban population and increased demand for on-the-go snacks, particularly in established and emerging nations, are the key drivers of the worldwide biscuit industry. A wide variety of biscuits in different flavours and shapes are now more widely visible thanks to the existence of supermarkets and shopping centres. Additionally, developing as a part of retail marketing techniques are TV ads. The maturity of a corporation is also influenced by its sales strategies and techniques. Because of this, biscuit manufacturers are always searching for fresh concepts and innovations.

Threat:

Harmful to health

Even while there are certain biscuits on the market that are good for you, there are also other biscuit varieties that are bad for you. These biscuits are loaded with calories, sugar, and fat. Chemicals and fake fruit essences found in some biscuits have the potential to lead to serious health issues like diabetes and obesity which results in market constrain.

Covid-19 Impact

Both positive and negative effects of the COVID-19 epidemic were seen by the biscuit industry. Disruptions in the world's supply chains had a negative market impact since they forced businesses to close their operations or operate with fewer workers, which led to low output. Additionally, buyers who stack products like biscuits that have a lengthy shelf life decrease the supply on the market. But consumers' need for quick, wholesome snack options propelled the market for wholesome biscuits made of oats and nuts. As a result, the manufacture of biscuits, the operation of bakeries, and the restart of supermarkets and specialty shops, among other things, led to an increase in consumer demand for biscuits, which in turn caused the global market to experience growth. The industry is being pushed by consumers' growing need for quick snacks made with nutritious components. Food-on-the-go has also grown to be a significant driver driving the market because it is the most current ongoing trend and one of the essential factors for customers when purchasing food goods.

The Sweet biscuits segment is expected to be the largest during the forecast period

The Sweet biscuits segment is estimated to have a lucrative growth, due to high consumer preference for sweet flavours. Typically, wheat flour or oats are used to make sweet biscuits, and sugar or honey is used to sweeten them. During the projected period, the sweet biscuit category will hold the biggest market share worldwide. These are eaten all around the world because of its flavour, energy level, and accessibility and people favour sweet biscuits because of their high nutritious content. The market for sweet biscuits is expected to expand as a result of customers' rising demand for ready-to-eat snacks and their easy access to them thanks to the expanding retail industry.

The Supermarkets/Hypermarkets segment is expected to have the highest CAGR during the forecast period

The Supermarkets/Hypermarkets segment is anticipated to witness the fastest CAGR growth during the forecast period, due to self help shops and offers wide varieties of biscuits. Companies are working with independent online sales channels to grow market share in accordance with global trends. Market penetration by supermarkets and shopping centres has made a variety of biscuits with varying flavours and forms more widely visible.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rising demand for convenient snacking paired with healthy ingredients. The demand for healthy biscuits in the area is rising as a result of the constant introduction of a wide variety of new goods, including morning biscuits, "thins," free-from alternatives, and healthy biscuits. Numerous domestic and foreign businesses have established themselves firmly in the area. Effective manufacturing and trade laws, shifting consumer preferences, increasing demand for processed foods, and the availability of a wide range of product varieties all contribute to the region's ability to support the expansion of the biscuits market.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the increasing eating of biscuits; particularly in the middle of working class population in the North American region has been driving the regional market. Additionally, the availability of a variety of flavours is anticipated to support market expansion.



Key players in the market

Some of the key players profiled in the Biscuits Market include ITC Limited, Nestle SA, Britannia Industries, The Hershey Company, United Biscuits Company, Parle Products Pvt. Ltd, Walkers Shortbread Ltd, Mondelez International Inc., Kellogg Company, Burton's Biscuit Company, Yildiz Holding Inc., Dali Food Group Co, Ltd., Lotus Bakeries NV, Cornu AG, Mrs .Bectors Food Specialties Limited, Anmol Industries Limited, Unibic Foods India Private Limited, HUG AG, Kambly SA and National Biscuit Industries LTD SAOG.

Key Developments:

In March 2021, Mondel?z International announced the acquisition of Gourmet Food Holdings Pty Ltd, an Australian food company that offers premium biscuits and crackers. Through this acquisition, Mondelez plans to accelerate its broader snacking leadership in Australia and New Zealand.

In March 2021, Kellogg’s introduced two cracker versions that are thinner and crispier under the Club and Town House brands. The company introduced Club Crisps in Sea Salt and Ranch flavor and Town House Dipping Thins in Sea Salt and Black Pepper.

In January 2020, Burton’s Biscuit Company had launched Maltesers Biscuits. Although faced with tough competition from other kinds of snacks, biscuits are recognized and appreciated for their ability to satiate both yearnings and hunger.

In July 2020, Britannia Industries, which manufactures Good Day and Tiger Biscuits, announced plans to invest INR 700 crore over the next two years to set up greenfield facilities and scale up its capacities of core products.

In January 2019, Kellogg invested BRL 215 million (USD 68 million) to expand the factory owned by Parati Group in Sao Lourenco, do Oeste, Brazil. The Parati Group operates two factories in Santa Catarina and manufactures and sells biscuits, crackers, stocks, pasta, and powdered drinks under the brand names Parati, Padua, Minueto, Zoo Cartoon, and Hot Crackers.

Flavors Covered:
• Chocolate
• Cheese
• Plain
• Fruits and Nuts
• Sour Cream
• Spiced
• Other Flavors

Types Covered:
• Sweet Biscuits
• Crackers and Savory Biscuits
• Filled/Coated
• Wafers
• Bourbon
• Rich tea
• Marie biscuits
• Glucose and Milk Biscuits
• Salt Crackers Biscuits
• Cream Biscuits
• Other Types

Distribution Channels Covered:
• Convenience Stores
• Online Retail
• Specialist Retailers
• Supermarket/Hypermarket
• Other Distribution Channels

Sources Covered:
• Millets
• Wheat
• Oats
• Multi Grain
• Barley
• Other Sources

Ingredients Covered:
• Butter
• Flour
• Milk
• Sugar
• Chocolate
• Cream
• Other Ingredients

Packagings Covered:
• Boxes
• Peelpaq
• Jars
• Pouches/Packets
• Other Packagings

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances