The latest report by IMARC Group, titled" Biscuits Market Report by Product Type (Crackers and Savory Biscuits, Sweet Biscuits), Ingredient (Wheat, Oats, Millets, and Others), Packaging Type (Pouches/Packets, Jars, Boxes, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Independent Bakery, Online Stores, and Others), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the market. The global biscuits market size reached US$ 123.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 183.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.4% during 2024-2032.
Factors Affecting the Growth of the Global Biscuit Industry:
- Changing Consumer Preferences:
The biscuit market is notably influenced by evolving consumer preferences, particularly the increasing demand for healthier snacking options. As awareness about health and wellness rises, consumers are seeking biscuits that offer nutritional benefits such as high fiber, low sugar, whole grain, and gluten-free options. This shift is driving manufacturers to innovate and expand their product lines to include healthier ingredients, organic products, and functional snacks that cater to specific dietary needs. The trend is further fueled by the growing prevalence of lifestyle diseases, which encourages consumers to opt for healthier snacking alternatives. As a result, companies are continuously reformulating their products and introducing new variants to meet the changing consumer demands, thereby driving market growth.
- Convenience and Portability:
The fast-paced lifestyles of modern consumers have increased the demand for convenient and portable snacking options, making biscuits a popular choice. Their ease of storage, long shelf life, and suitability for on-the-go consumption make biscuits an ideal snack for busy individuals. This trend is bolstered by increasing urbanization and the rise in working populations, where quick and easy snacking solutions are preferred to fit into hectic schedules. Manufacturers are responding by offering a diverse range of products in various sizes, innovative packaging that ensures freshness and ease of transport, and new flavors catering to a broad audience. The emphasis on convenience is a key driver for the biscuit market, aligning with contemporary consumer trends for quick, tasty, and satisfying snack options.
- Cultural Expansion:
The global expansion of the biscuit market is significantly driven by the cross-cultural exchange enabled by globalization. As people travel more and are exposed to diverse cultures, there is an increasing demand for a variety of flavors and types of biscuits. This has resulted in the introduction of ethnic flavors and ingredients, catering to a wide range of tastes and preferences. Furthermore, the influence of Western eating habits has popularized biscuits in emerging markets, where they are becoming a regular part of consumption patterns. The internet and social media also play a vital role in this trend by exposing consumers to global food trends and influencing their purchasing behavior. In response, manufacturers are offering a diverse array of biscuit varieties, from traditional recipes to innovative fusion flavors, appealing to a broader and more diverse consumer base and driving market growth.
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Leading Companies Operating in the Global Biscuits Market
- Bahlsen GmbH & Co. KG
- Britannia Industries Limited
- Burton's Biscuit Company
- ITC Limited
- Kellogg Company
- Lotus Bakeries Corporate
- Mondelez International Inc.
- Nestlé S.A.
- Parle Products Private Limited
- Pladis Global
- Walker's Shortbread
Biscuit Market Report Segmentation:
By Product Type:
· Crackers and Savory Biscuits
o Plain Crackers
o Flavored Crackers
o Plain Biscuits
o Cookies
o Sandwich Biscuits
o Chocolate-coated Biscuits
o Others
Sweet biscuits account for the largest market share as they appeal to a broad range of tastes and preferences.
By Ingredient:
- Wheat
- Oats
- Millets
- Others
Wheat dominates the market as it is widely recognized for its nutritional value and is preferred by health-conscious consumers.
By Packaging Type:
- Pouches/Packets
- Jars
- Boxes
- Others
Pouches or packets represents the leading segment as individually wrapped or portion-controlled biscuit packets are easy to carry and store.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Independent Bakery
- Online Stores
- Others
Supermarkets and hypermarkets hold the largest market share as they offer a wide range of products, including various brands, flavors, and types.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific’s dominance in the biscuit market is attributed to the region's rising population, increasing disposable income, and changing consumer preferences.
Global Biscuit Market Trends:
The global biscuit market is witnessing robust growth, driven by several key trends. One prominent trend is the increasing demand for diverse flavors and types of biscuits, spurred by globalization and cross-cultural exchanges. As consumers are exposed to different cultures and cuisines through travel and the internet, there is a growing appetite for unique and ethnic flavors, leading to the introduction of a wide variety of biscuit options. Health and wellness trends are also significantly shaping the biscuit market. Consumers are becoming more health-conscious, prompting manufacturers to develop healthier biscuit options, such as those with reduced sugar, gluten-free, and high-fiber variants. The demand for organic and natural ingredients is rising, with consumers seeking products that align with their health and lifestyle choices.
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