Biscuits Market Outlook

The latest analysis by Expert Market Research (EMR) unveils that the global biscuits market size was valued at USD 124.27 billion in 2023. Buoyed by evolving consumer preferences towards convenience foods and the continuous innovation in flavors and healthier ingredients, the biscuits market is poised for substantial growth. It is projected to expand at a Compound Annual Growth Rate (CAGR) of 5.3% between 2024 and 2032, reaching a value of around 198.20 billion by 2032.

Biscuits, a staple snack item enjoyed across the globe, have witnessed significant transformation in recent years. From simple tea accompaniments to sophisticated, health-oriented snacks, biscuits today cater to a wide array of consumer preferences, spanning tastes, dietary requirements, and occasions.

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Driving Forces Behind Market Growth

The global biscuits market growth is predominantly driven by the rising demand for convenient, ready-to-eat snack options among the urban population. Busy lifestyles and increasing disposable incomes have led to a surge in snack consumption, positioning biscuits as a preferred snack due to their portability, extended shelf life, and variety.

Moreover, there is a growing consumer inclination towards healthier snack options, prompting manufacturers to innovate by incorporating organic, gluten-free, whole grain, and fortified biscuits into their product lines. These health-focused products are attracting health-conscious consumers, further fueling market growth.

The expansion of the biscuits market is also propelled by the continuous introduction of new flavors and textures, catering to local tastes and preferences. Manufacturers are experimenting with combinations of savory and sweet flavors, as well as integrating superfoods and alternative grains to diversify their offerings.

Additionally, the market benefits from robust marketing strategies and the effective use of digital media to engage with consumers, driving awareness and sales. Seasonal and festive product launches further boost consumption, as biscuits are popular gifting items during holidays and celebrations.

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Biscuits Market Segmentation

The market can be divided based on product type, ingredients, packaging type, distribution channel, and region.

Market Breakup by Product Type

• Crackers and Savory Biscuits
  • Plain Crackers
  • Flavoured Crackers
• Sweet Biscuits
  • Plain Biscuits
  • Cookies
  • Sandwich Biscuits
  • Chocolate-coated Biscuits
  • Marie Biscuits
  • Milk Biscuits
  • Others

Market Breakup by Ingredients

• Wheat
• Oats
• Millets
• Others

Market Breakup by Packaging Type

• Pouches/Packets
• Jars
• Boxes
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Independent Bakery
• Online Stores
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global biscuits companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Britannia Industries Limited
• Nestlé S.A
• PepsiCo Inc.
• Orion Corporation
• Bahlsen GmbH & Co. KG
• Burton’s Biscuit Company
• Mondelēz International Inc.
• Parle Products Pvt. Limited
• ITC Limited
• Grupo Bimbo, S.A.B. de C.V.
• Yildiz Holding A.S.
• Others

Challenges and Opportunities

Despite the promising growth trajectory, the biscuits market faces challenges such as fluctuating raw material prices and the need to balance taste with health benefits. Moreover, the competitive landscape requires continuous product innovation and brand differentiation to maintain consumer interest and loyalty.

However, these challenges present opportunities for market players to innovate and expand. There is a significant potential for growth in emerging markets, where urbanization, rising incomes, and changing dietary patterns are creating new demand for biscuits. Additionally, the trend towards sustainable and ethically sourced ingredients offers avenues for brands to enhance their value proposition and appeal to environmentally conscious consumers.

Market Trends and Innovations

A key trend in the biscuits market is the increasing focus on sustainability, with brands adopting eco-friendly packaging solutions and committing to sustainable sourcing practices. Furthermore, the integration of e-commerce and direct-to-consumer sales channels is gaining momentum, offering consumers convenience and access to a wider range of products.

Personalization and customization are becoming important differentiators, with consumers seeking unique experiences and flavors. Limited edition releases and collaborative products also generate excitement and drive engagement among consumers.

Future Outlook

The global biscuits market is set to continue its growth trajectory, with innovation and consumer-centric strategies at its core. As manufacturers navigate changing consumer preferences and global trends, the focus will likely remain on health and wellness, convenience, and sustainability.

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