Biscuits Market Outlook
According to a new report by Expert Market Research titled “The Global Biscuits Market Size, Share, Analysis, Report and Forecast 2023-2028″ the biscuits market reached a value of USD 117.9 billion in 2022. Aided by the growing demand for convenient snack options and the evolving consumer preferences for biscuits with various flavours and nutritional profiles, the market is projected to further grow at a CAGR of 5.40% between 2023 and 2028 to reach a value of USD 160.6 billion by 2028.
Biscuits are a versatile bakery product made from simple ingredients like flour, sugar, and fats, often enjoyed as a snack or dessert worldwide. They offer a wide range of flavours and textures, from sweet cookies and cream-filled sandwich biscuits to savoury crackers. The convenience, extended shelf life, and broad appeal of biscuits make them a popular choice in both developed and emerging markets.
The escalating consumer preference for convenient snack options is fuelling the global biscuits market growth. With increasingly busy lifestyles, consumers are turning towards ready-to-eat products that offer both taste and nutrition. This shift is leading to a surge in demand for biscuits as they are easy to consume, carry, and store, thereby enhancing their appeal.
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In addition, the rising trend of health and wellness has contributed to the increasing popularity of biscuits with improved nutritional profiles. Consumers, especially those mindful of their dietary intake, are seeking biscuits with higher fibre content, reduced sugar, and fortified with vitamins and minerals. This trend has stimulated biscuit manufacturers to innovate and diversify their product range to cater to these changing consumer preferences.
Moreover, the expanding applications of biscuits in various occasions also play a significant role in propelling the biscuits market development. Whether it’s a tea break, a celebration, or an on-the-go snack, biscuits have found their place in various settings, owing to their adaptability.
Additionally, the rising demand for premium and gourmet biscuits in the market has led to an increased focus on biscuits as an indulgent treat. With the growing consumer inclination towards quality and luxurious experiences, biscuits with exotic flavours, premium ingredients, and exquisite packaging have gained popularity.
Furthermore, the advent of e-commerce and online retail has given a significant boost to the biscuits market expansion. Easy access to a variety of products, along with the convenience of home delivery, has encouraged more consumers to purchase biscuits online.
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Biscuits Market Segmentation
The market can be divided based on product type, ingredients, packaging type, distribution channel, and region.
Market Breakup by Product Type
- Crackers and Savory Biscuits
- Plain Crackers
- Flavoured Crackers
- Sweet Biscuits
- Plain Biscuits
- Sandwich Biscuits
- Chocolate-coated Biscuits
- Marie Biscuits
- Milk Biscuits
Market Breakup by Ingredients
Market Breakup by Packaging Type
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Independent Bakery
- Online Stores
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global biscuits companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Britannia Industries Limited
- Nestlé S.A
- PepsiCo Inc.
- Orion Corporation
- Bahlsen GmbH & Co. KG
- Burton’s Biscuit Company
- Mondelēz International Inc.
- Parle Products Pvt. Limited
- ITC Limited
- Grupo Bimbo, S.A.B. de C.V.
- Yildiz Holding A.S.
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