PUBLISHER: The Business Research Company | PRODUCT CODE: 1435712
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435712
Biscuits are baked food items crafted from ingredients such as flour, shortening, baking powder or soda, alongside other supplementary components.
The primary categories of biscuits include crackers, savory biscuits, and sweet biscuits. Crackers and savory biscuits encompass a diverse range of shapes, sizes, colors, and flavors, commonly measuring three inches or less in diameter. They typically maintain a low moisture content, ranging from one to five percent, and are crafted from grain flours sourced from wheat, oats, or millet. These biscuits are available in various flavors, including plain, chocolate, sour cream, cheese, spiced, as well as infused with fruits and nuts. They are distributed through supermarkets, hypermarkets, specialist retailers, convenience stores, online retail platforms, and other diversified distribution channels.
The biscuits market research report is one of a series of new reports from The Business Research Company that provides biscuits market statistics, including biscuits industry global market size, regional shares, competitors with a biscuits market share, detailed biscuits market segments, market trends and opportunities, and any further data you may need to thrive in the biscuits industry. This biscuit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biscuits market size has grown strongly in recent years. It will grow from $121.07 billion in 2023 to $129.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth observed in the past period can be attributed to shifts in consumer lifestyles, health and wellness trends, the proliferation of online shopping, alterations in trade policies, and the impact of crisis events.
The biscuits market size is expected to see strong growth in the next few years. It will grow to $169.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the upcoming period can be linked to the surge in personalization trends, the fusion of global flavors, the expansion of plant-based diets, diverse dietary preferences, and the influence of government regulations. Noteworthy trends expected in this period encompass the rise of artisanal and craft biscuits, subscription-based models, interactive packaging solutions, collaborations within the culinary sphere, and the implementation of blockchain technology for traceability.
The anticipated growth of the biscuits market is strongly influenced by the phenomenon of rapid urbanization. Urbanization, characterized by the migration of populations into concentrated urban areas, is a transformative force that repurposes land for residential, commercial, industrial, and transportation purposes. This global trend is significantly impacting food systems, shaping spatial patterns of food demand, and influencing consumer preferences. As of April 2022, according to the World Economic Forum, a Switzerland-based international non-governmental organization, the proportion of the global population residing in cities is projected to reach 80% by 2050. Currently, more than 4.3 billion people, constituting 55% of the world's population, reside in urban areas, and this figure is anticipated to escalate to 80% by 2050. In light of this, the biscuits market is experiencing growth propelled by the ongoing trend of rapid urbanization.
The projected growth of the biscuits market is closely tied to the rising consumer preference for healthy snacking. Healthy snacking involves the consumption of nutritionally balanced food items between main meals, emphasizing choices that deliver essential nutrients, sustain energy levels, and contribute to overall well-being. Biscuits emerge as a favorable option for healthy snacking when crafted with whole grains, offering fiber and essential nutrients for prolonged energy. As of December 2022, insights from Food Insight, a US-based scientific information center, reveal that a survey conducted by the International Food Information Council indicates that 73% of individuals incorporate snacking into their daily routines, with younger generations displaying a preference for energy-boosting snacks. This underscores the growing inclination toward healthy snacking habits, positioning biscuits as a key player in meeting this demand and consequently driving the overall growth of the biscuits market.
A notable trend shaping the biscuits market is the emphasis on product innovations, particularly evident among major players such as Club Crisps and Town House Dipping Thins. These market leaders are actively engaged in the development of products that boast enhanced taste and textures, aiming to fortify their foothold in the competitive biscuit market. An illustrative example is ITC Limited, an Indian food factory operating within the biscuits market. In July 2021, ITC introduced the Sunfeast All-Rounder, a potato biscuit distinguished by its masala sprinkling, crispiness, and remarkable thinness. Notably, the inclusion of potato in the base creates a distinctive texture for the biscuit. The masala sprinkling on the top contributes to an intense aroma and a lingering taste experience for consumers, distinguishing Sunfeast All-Rounder as an innovative product within the dynamic biscuits market landscape.
Prominent companies within the biscuits market are increasingly prioritizing strategic collaborations as a means to deliver reliable services to customers. Strategic collaboration involves a mutually beneficial partnership between independent entities, working together to achieve shared goals that align with their respective strategic objectives. A case in point is the collaboration between Reliance Consumer Products Limited, an Indian-based provider of fast-moving consumer goods, and Maliban Biscuit Manufactories, a Sri Lanka-based provider of bakery products. In February 2023, these companies entered into a strategic partnership aimed at bringing Maliban's popular range of biscuits, crackers, cookies, and wafers to Indian consumers. This collaboration exemplifies the industry's focus on leveraging partnerships to expand product offerings and provide enhanced services to meet the evolving needs of customers within the biscuits market.
In March 2021, Mondelez, a US-based company specializing in confectionery, food, and beverage, successfully acquired Australian Gourmet Food for an undisclosed amount. The acquisition of Gourmet Food Holdings Pty Ltd. marks Mondelez's entry into the rapidly expanding premium and well-being cracker segments. Additionally, this strategic move provides a compelling platform for driving Mondelez's broader biscuit portfolio in the regions of Australia and New Zealand. Australian Gourmet Food, the acquired company, is based in the US and operates in the premium entertaining products and on-trend health foods sector.
Major companies operating in the biscuits market report are Universal Robina Corporation, Nestle S.A., Mars Incorporated, Mondelez International Inc., Grupo Bimbo S.A.B. de C.V., Kellogg Company, The Kellogg Company, pladis Global, Lotte Corporation, The Hershey Company, ITC Limited, Patanjali Ayurved Limited, Dali Foods Group Co. Ltd., Britannia Industries Limited, United Biscuits (UK) Limited, Lotus Bakeries NV, Parle Agro Pvt. Ltd., Pepperidge Farm Incorporated, Walkers Shortbread Ltd., Arnott's Ltd., Bahlsen GmbH & Co. KG, Cremica Food Industries Limited, Leclerc Foods USA Inc., Burton's Biscuit Company, Surya Food & Agro Ltd., Ravi Foods Pvt. Ltd., Anmol Industries Limited, Duke and Sons Pvt. Ltd., C.A. Pillsbury and Company, Loacker S.p.A.
Europe was the largest region in the biscuits market in 2023. South America is expected to be the fastest-growing region in the biscuits market report during the forecast period. The regions covered in the biscuits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biscuits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biscuits market consists of sales of cream crackers, flavored crackers, and sandwich biscuits. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biscuits Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biscuits market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biscuits ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biscuits market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.