PUBLISHER: 360iResearch | PRODUCT CODE: 1464938
PUBLISHER: 360iResearch | PRODUCT CODE: 1464938
[195 Pages Report] The Biscuits Market size was estimated at USD 93.58 billion in 2023 and expected to reach USD 97.73 billion in 2024, at a CAGR 4.56% to reach USD 127.89 billion by 2030.
Biscuits, a globally consumed baked product, are cherished for their convenience, variety, and taste. They cater to a wide range of consumers, from those seeking quick snacks to individuals looking for healthier snacking alternatives. The major factors driving the expansion of biscuit consumption include urbanization, the growth of the middle class, and the innovation in flavors and dietary options, such as gluten-free and vegan varieties, meeting diverse consumer needs. However, biscuits face certain restraints, including concerns over nutritional content, particularly regarding sugar and trans fat levels, which are increasingly scrutinized by health-conscious consumers. Addressing these concerns involves reformulating recipes to reduce unhealthy ingredients without compromising taste. Additionally, sustainable packaging solutions are explored to meet environmental concerns. The future opportunities in the biscuit market lie in leveraging technology and innovation to enhance product and packaging sustainability, tapping into emerging markets with bespoke products tailored to local tastes, and expanding the health-focused product ranges to cater to the growing demand for healthier snacking options.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 93.58 billion |
Estimated Year [2024] | USD 97.73 billion |
Forecast Year [2030] | USD 127.89 billion |
CAGR (%) | 4.56% |
Product: Rising preference for dietary biscuits among health-conscious customers
Dietary biscuits are designed to meet specific dietary requirements or preferences, such as low-sugar, gluten-free, or high-fiber options, accommodating health-conscious consumers. Consumers seeking healthier snack options or those with dietary restrictions are the primary market for these biscuits. Functional Biscuits include products fortified with vitamins, minerals, proteins, and other supplements to offer health benefits beyond basic nutrition. This segment caters to consumers looking for snacks that satisfy hunger and contribute to their overall health and well-being. Savory biscuits are designed as snacks with non-sweet flavors. These may include cheese, herbs, and spices and incorporate meats or vegetable bits for enhanced flavor profiles. These biscuits are preferred by consumers looking for an alternative to sweet snacks, offering a variety of flavors and ingredients. Sweet biscuits encompass a broad category of biscuits that are primarily flavored with sugar, chocolate, fruit, or other sweet ingredients. This segment targets the broadest consumer base, appealing to all age groups with a variety of flavors, textures, and forms.
Distribution Channel: Growing trend of convenience and discovery shopping of biscuits in online channels
Convenience stores are preferred for impulse purchases and immediate consumption needs. These outlets are ideal for commuters and individuals seeking quick snacks. The preference for online retail has surged, mainly due to its convenience, variety, and the impact of the COVID-19 pandemic. Customers value the ability to discover new and exotic biscuit varieties from around the world. Consumers visiting specialty stores often look for high-end, organic, or niche biscuit varieties not commonly found in other retail formats. These stores cater to a more discerning customer base. Supermarkets and hypermarkets are preferred for regular and bulk purchases, offering a wide variety of brands and types all in one place. These channels cater to the everyday needs of the majority of consumers.
Regional Insights
In the Americas, there is a high consumption of biscuits, with a preference for innovative and health-focused products such as organic, gluten-free, and low-calorie options. Major companies in this region lead in production and product innovation, leveraging advanced manufacturing technologies and extensive distribution networks. The APAC region showcases a growing biscuit market fueled by elevating disposable incomes and the rising popularity of convenience foods among the burgeoning middle class. Local companies in APAC, alongside international players, are expanding their production capabilities and diversifying product ranges to include traditional and Western-style biscuits, focusing on affordability and taste adaptation. In EMEA, the biscuit market is well-established, with a strong inclination towards premium and artisanal products, especially in Western Europe. Traditional biscuit consumption remains robust in European countries, with companies focusing on heritage brands and premium segments. The Middle East and African region is witnessing a surge in demand for biscuits due to urbanization and a young population, with companies in this region increasingly investing in capacity expansion and distribution networks to capture the growing market.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Biscuits Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Biscuits Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Biscuits Market, highlighting leading vendors and their innovative profiles. These include Arnott's Biscuits Holdings Pty Limited, Barilla G. e R. Fratelli S.p.A, Britannia Industries Limited, Burton's Biscuit Company, Crown Confectionery Co., Ltd., Ezaki Glico Co., Ltd., Ferrero SpA, General Mills, Inc., Grupo Bimbo, S.A.B. de C.V., Kambly SA, Kellogg Company, Kraft Heinz Company, Lotte Corporation, Lotus Bakeries NV, Mondelez International, Inc., Nestle SA, Orion Corporation, Parle Products Pvt. Ltd., PepsiCo, Inc., Sanitarium Health and Wellbeing Company, Unibic Foods India Pvt. Ltd., Unilever PLC, United Biscuits UK PLC, Walkers Shortbread Ltd., and YIldIz Holding.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Biscuits Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Biscuits Market?
3. What are the technology trends and regulatory frameworks in the Biscuits Market?
4. What is the market share of the leading vendors in the Biscuits Market?
5. Which modes and strategic moves are suitable for entering the Biscuits Market?