Biscuits Market Analysis by Regional Share with Rise of 4.97?GR with Forecast to 2027
Research Reports
Apr 13, 2022
Market Overview
The global biscuits market is likely to expand at most prominent CAGR during the forecast period from 2022 to 2027 owing to shifting food preferences of the consumers. The biscuits are very similar product to bread and is very popular in this form globally. This product is combination of variety of flour, water, and milk, which can be baked and served both hot and cold. The changing food preference and ingredients for type of biscuits. Further, this inclination toward newer flavors coupled with increasing number of new entrants which are coming up with these newer products in the market are opening doors of opportunities for growth and this scenario is likely to be same for next few years.
Further, increasing demand for nutritious content of the food several key players are increasingly looking for product innovation, which is helping them to attract young as well as heath conscious people. These types of products and newer launches are estimated to propel market growth in coming future. These players are also focusing on attractive packaging and better marketing strategies, which are uplifting growth of the market. Moreover, fast-paced life coupled with impact of urbanization on lifestyle have added fuel to the demand for crackers and other baked goods, which are having huge impact on the market growth and product adulteration.
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Competitive Analysis:
Some of the major companies in the global biscuits market include Britannia Industries Limited, Parle Products Pvt. Ltd., Lotus Bakeries NV, ITC Limited, Mondelez International, Inc., Kraft Foods Group, Inc., Burton’s Foods Ltd., and Campbell Soup Company. The new product launches, business expansion, and investment in market for new product launches and marketing are some of the key strategies adopted by the key players operating in the biscuits market.
Segmentation:
The biscuits market is segmented on source, distribution channel, packaging, and region.
Based on the source, the market is segmented into oats, wheat, multi-grain, and others. Of these segments, the wheat segment held largest share and is estimated retain its dominance in terms of revenue and market share. However, the multi-grain and oats segments are estimated to witness most lucrative growth owing to high demand for functional ingredients for biscuits preparations.
Based on the packaging, the market is segmented into boxes, pouches/packets, cans/jars, and others. Of these, the boxes segment dominated the global biscuits market and is estimated to remain dominant in coming years followed by pouches/packets and cans/jars segments. The growth of these segments is majorly attributable to ease of packing, handling, and transportation as well as inclination of consumers toward the premium packaging of the normal bakery products.
Based on the distribution channel, the market is segmented into non-store based and store-based channel. Of them, the store-based segment is estimated to remain dominant in the market during the forecast period. This growth is majorly attributable to the booming e-commerce and improving distribution channel globally. Also, this factor is estimated to open wider doors for the opportunities for growth in coming future.
Regional Analysis:
Regionally, the biscuits market is segmented into the Americas, Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas dominated the global biscuits market and is estimated to remain dominant in the coming future owing to increasing popularity of snacks and baked food and confectionery products. increasing number of working population coupled with high disposable income is fueling growth of the global biscuits market. However, Asia Pacific is anticipated to be the fastest growing region owing to changing food patterns and inclination of consumer toward packed and ready-to-eat food. Additionally, increasing per capita income and effects of urbanization on lifestyle of people are boosting biscuits market in the region.
Additionally, Latin America is new region found for investment to the key players in the market owing to increasing disposable income of consumers and affordability of the biscuits to the mid-earning population in the region.
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Industry News:
In 2019, Biscuits maker Parle Products Pvt Ltd recently launched a range of biscuits under Nutricrunch series. This range is aimed to the health-conscious customers for next 18 to 24 months. This is the company’s second product which is aiming to health-conscious customers after Simply Good. With this new product, the company is eyeing to reach USD 20 million of turnover with help of new products.
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