Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Biscuits Market is influenced by a variety of market factors that contribute to its dynamics and growth. One of the primary drivers is the widespread popularity of biscuits as a versatile and convenient snack. Biscuits are enjoyed by people of all ages and are often chosen for their portability and long shelf life, making them a go-to option for on-the-go snacking. The ubiquity of biscuits as a comfort food and a convenient snack has resulted in a consistent demand across diverse demographics.
Changing consumer preferences and dietary habits play a crucial role in shaping the Biscuits Market. As consumers become more health-conscious, there is a growing demand for biscuits that offer healthier formulations, such as those made with whole grains, reduced sugar, and natural ingredients. Companies that can innovate and adapt their product offerings to align with evolving health trends are well-positioned to cater to the changing preferences of health-conscious consumers.
Brand loyalty and consumer trust are significant factors influencing the Biscuits Market. Established and reputable brands often enjoy a loyal customer base, with consumers gravitating towards familiar products. However, the market is also characterized by a willingness among consumers to explore new and innovative biscuit offerings. Effective branding, marketing strategies, and an emphasis on quality and taste contribute to building and maintaining consumer trust in a highly competitive market.
Economic factors, such as income levels and purchasing power, significantly impact the Biscuits Market. Economic prosperity often leads to increased consumer spending on discretionary items, including snacks and treats like biscuits. Conversely, economic downturns may prompt consumers to be more price-conscious, favoring budget-friendly options. Understanding these economic fluctuations is crucial for businesses in the biscuits sector to tailor their pricing and marketing strategies to meet consumer needs in different economic conditions.
Innovation in flavors and product formulations is a key driver of the Biscuits Market. Companies continually introduce new and exciting flavors, textures, and packaging to capture consumer attention and maintain relevance in the market. The introduction of specialty biscuits, including gluten-free, vegan, and organic options, reflects the industry's response to diverse dietary preferences and lifestyle choices.
The influence of cultural and regional preferences is evident in the Biscuits Market. Different regions may have distinct preferences for biscuit types, flavors, and textures. Companies that tailor their products to align with regional tastes and preferences are more likely to resonate with local consumers and establish a strong presence in specific markets.
Retail distribution channels and the evolving landscape of e-commerce also impact the Biscuits Market. Traditional retail outlets, such as supermarkets and convenience stores, remain crucial for product accessibility. However, the rise of online shopping has opened up new avenues for biscuit manufacturers to reach consumers directly. Companies that effectively navigate both traditional and online distribution channels can enhance their market reach and accessibility.
Global events, such as the COVID-19 pandemic, have influenced the Biscuits Market. Lockdowns, remote work, and changes in consumer behavior have led to increased at-home consumption. Biscuits, with their long shelf life and convenience, became a popular choice for consumers looking for comforting snacks during uncertain times. Companies that adapted their marketing strategies to emphasize home consumption and introduced family-sized or individually packaged options were better positioned to meet the evolving demands of consumers during the pandemic.
Sustainability considerations are gaining importance in the Biscuits Market. Consumers are increasingly conscious of the environmental impact of their purchases, leading biscuit manufacturers to explore sustainable sourcing practices and eco-friendly packaging options. Brands that demonstrate a commitment to sustainability may appeal to environmentally conscious consumers, contributing to their market competitiveness.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 108.9 Billion |
| Growth Rate | 5.90% (2024-2032) |
Biscuits Market Highlights:
Global Biscuits Market Overview
Biscuits Market Size was valued at USD 108.9 billion in 2023. The biscuits industry is projected to grow from USD 115.3 billion in 2024 to USD 172.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2024 - 2032). The world's expanding urban population and increased demand for on-the-go snacks, particularly in established and emerging nations, are the key market drivers of the worldwide industry. Accelerated urbanization, rising discretionary income, and the onset of established lives are additional economic factors driving the creation of crackers exchange sectors.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Biscuits Market Trends
- Rising inclination towards gluten-free and clean label products to propel the market growth
Due to rising disposable incomes and the rising popularity of free-from products in nations like the United States, the United Kingdom, China, India, and many others, there has been a significant increase in demand for clean-label and gluten-free processed food products, such as biscuits, cookies, crackers, and scones, in recent years. This is especially true in Asia-Pacific. The prevalence of celiac disease in various parts of the world is one of the primary factors influencing consumer preference for gluten-free goods. According to the Coeliac Organization of the UK, celiac disease affects one in every 100 people. In a similar vein, according to the Beyond Celiac Organization, in 2021 there were around 1 in 133 Americans, or 1% of the population. People tend to favor products that are gluten-free as a result. Players in the industry are also concentrating on creating high-fiber, high-calorie, and gluten-free products in light of the trend. For instance, Arnott's firm introduced gluten-free variations of Tiny Teddy, Scotch Finger, and Choc Ripple in July 2021. A gluten-free mixture of corn, soy, rice, sorghum, and tapioca is used to make the items. The market expands as a result of increased customer demand for nutritive goods as well as a rise in clean-label items. Customers have discreetly benefited from product launches throughout the years that made label claims like "no artificial ingredients," "non-GMO," and "reduced sugar." Thus, this factor is driving the market CAGR.
Furthermore, the market is anticipated to increase quickly in the future due to rapid urbanisation. The term "urbanisation" describes the movement of people into relatively confined areas to create cities. Land is altered for residential, commercial, industrial, and transportation uses as a result of this concentration. Urbanization has an impact on consumer preferences and spatial patterns of food demand, which helps to modify food systems globally. For instance, the World Economic Forum, a non-governmental and lobbying organisation with headquarters in Switzerland, predicted in April 2022 that by the year 2050, 80% of the world's population would live in cities. By 2050, it is anticipated that 80% of the world's population, or more than 4.3 billion people, will reside in cities.
Additionally, the biscuits sector faces a challenge from the growing demand for healthy snack bars worldwide. Recently, granola bars have gained a lot of popularity as more wholesome snacks. Additionally, there is a parallel rise in demand for very nutritious snack food bars. The desire for better meal replacement options among modern consumers is what drives the market for snack bars. Even while fruit snacks and other snacks, including yoghurt, cereal bars, and others, are thought of as better options for snacking, the consumption of processed snacks, such as dried, and preserved types of processed fruit snacks, offends certain customers. Fresh fruits and vegetables do not include any of the processed additives or toxins found in packaged snacks, therefore consumers are changing their diets to include more of them.
However, a crucial trend that is becoming increasingly popular in the market is product innovation. To maintain their position in the business, major competitors like Club Crisps and Town House Dipping Thins are creating goods with improved flavours and textures. For instance, the Sunfeast All-Rounder potato biscuit, which ITC Limited, an Indian food manufacturer active in the market, introduced in July 2021, is masala sprinkled and one of the thinnest biscuits, while the potato in the foundation gives them a special feel. Customers enjoy a powerful aroma and flavour from the masala sprinkled on top that remains long after each bite. So, it is anticipated that this aspect will accelerate biscuits market revenue globally.
Segment Insights
Biscuits Type Insights
The biscuits market segmentation has been segmented by type into crackers, savoury biscuits and sweet biscuits. The sweet biscuits segment dominated the biscuits industry data in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Plain sweet biscuits are desired and consumed across all economic sectors, and the projection term should see a steady increase in their market share. This type of biscuits is also more popular because consumers can consume it whenever it is convenient, which encourages market growth.
Figure 2: Biscuits Market by Type, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Biscuits Distribution Channel Insights
The biscuits market segmentation, based on distribution channel, Independent Bakeries, Online Channels, Convenience Stores, Supermarkets and Others. The supermarkets segment dominated the biscuits industry revenue in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Supermarkets and hypermarkets are self-service stores that offer a wide selection of biscuits, including sweet and savoury biscuits, crackers, filled and coated biscuits, and others. Supermarkets and hypermarkets have a wide variety of products and a variety of brands all under one roof, which has helped them get a larger revenue share.
Biscuits Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific biscuits market accounted for USD 47.1 billion in 2021 and is expected to exhibit a 43.20% CAGR during the study period. The industry has been boosted by the rising demand in nations like India and Japan. The industry has been driven by an increase in demand as a healthy alternative to sweet treats. The producers are adding fresh flavours like tomato salsa, onion & garlic, cheese, and others while highlighting their positive health effects.
Further, the major countries studied in the market report are: The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: BISCUITS MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
North America market of biscuits is expected to grow at a significant CAGR from 2022 to 2030 because demand from consumers is growing. The market is being driven by the rising trend of healthy snacking, particularly among the working-class population in the United States and Canada. The expansion of the regional market is being driven by a shift in customer preference toward them due to their superior appeal, taste, and convenience. Further, the US biscuits market held the largest market share, and the Canada biscuits industry was the fastest-growing market in the region
Europe biscuits market accounts for the second-fastest growing market share. The industry is fueled by consumers in Europe's growing need for quick snacks made with nutritious components. The region's demand for healthy biscuits is rising as a result of the constant introduction of a wide variety of new products, such as morning biscuits, thins, and healthy biscuits. Due to the increased demand in the area and the influx of new market competitors, competition is at an all-time high. Moreover, Germany biscuits industry held the largest market share, and the UK biscuits industry was the fastest-growing market in this region.
Biscuits Key Market Players & Competitive Insights
Major market players are spending a lot on R&D to increase their product lines, which will help the biscuits industry grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.
One of the primary business strategies manufacturers adopt in the biscuits industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. In recent years, biscuits industry has provided medicine with some of the most significant benefits. The biscuits market major player such as Burtons Foods Ltd., Danone Group, Jiashili Group, Kraft Foods, MARS, Kellogg, McVities, Mondelez International, Nestle, Thomas Tunnock Limited, Uni-President, United Biscuits and Want Want Group.
An American international candy, food, holding, beverage, and snack food corporation with its headquarters in Chicago is called Mondelz International. Mondelez operates in around 160 countries and generates annual revenues of about $26 billion. In March 2022, Chipita SA, the high-growth market leader in croissants and baked snacks like bagel chips, cake bars, and biscuits in Europe, was successfully acquired by Mondelez International.
The Kellogg Firm, also known as Kellogg's, is a worldwide American food manufacturing company with its main office in Battle Creek, Michigan. The company Kellogg's makes cereal as well as convenience items like crackers and toaster pastries. In February 2019, to develop the factory run by Parati Group in Sao Lourenco, do Oeste, Brazil, Kellogg contributed BRL 215 million (about USD 68 million). Under the trade names Parati, Padua, Minueto, Zoo Cartoon, and Hot Crackers, the Parati Group produces and markets biscuits, crackers, stocks, pasta, and powdered drinks at two plants in Santa Catarina.
Key Companies in the biscuits market includes
- Burtons Foods Ltd.
- Danone Group
- Jiashili Group
- Kraft Foods
- MARS
- Kellogg
- McVities
- Mondelez International
- Nestle
- Thomas Tunnock Limited
- Uni-President
- United Biscuits
- Want Want Group
Biscuits Industry Developments
March 2021: Gourmet Food Holdings Pty Ltd, an Australian food firm that sells high-end crackers and biscuits, has been acquired by Mondelez International. Through this acquisition, Mondelez intends to solidify its position as the market leader for snacks in Australia and New Zealand.
March 2021: Under the Club and Town House labels, Kellogg debuted two thinner and crispier varieties of crackers. Town House Dipping Thins with sea salt and black pepper as well as Club Crisps with sea salt and ranch taste were introduced by the company.
Biscuits Market Segmentation
Biscuits Type Outlook (USD Billion, 2018-2030)
- Crackers
- Savoury Biscuits
- Sweet Biscuits
Biscuits Distribution Channel Outlook (USD Billion, 2018-2030)
- Independent Bakeries
- Online Channels
- Convenience Stores
- Supermarkets
- Others
Biscuits Regional Outlook (USD Billion, 2018-2030)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
