Market Estimation & Definition:
The global biscuits market Industry , valued at approximately USD 122.96 billion in 2023, is projected to reach USD 173.02 billion by 2030, growing at a compound annual growth rate (CAGR) of 5% during the forecast period. Biscuits, which are baked products typically made from flour, sugar, butter, and leavening agents, have evolved into a key part of the global snack food industry. Known for their convenience, long shelf life, and variety of flavors (from sweet to savory), biscuits are consumed globally, particularly as an easy snack or quick meal substitute.
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Market Growth Drivers & Opportunity:
The market is primarily driven by increasing consumer demand for convenient and ready-to-eat snacks. The rise in health-consciousness among consumers has led to an increasing preference for healthier biscuits, such as low-calorie, low-fat, and sugar-free options. Companies are responding to this demand by launching biscuits made with natural ingredients, without artificial colors and preservatives, and offering specific dietary benefits like gluten-free, high-fiber, and multigrain biscuits.
The growing availability and accessibility of biscuits through supermarkets, hypermarkets, and online platforms have also fueled market growth. Major players are making their products more visible and available by leveraging television and online marketing, driving consumer awareness and product visibility. Additionally, the growth of premium and gourmet biscuits, driven by consumer willingness to splurge on high-quality snack products, is further expanding the market. Luxury biscuits made with exotic ingredients and sophisticated flavors are gaining popularity in urban centers.
Segmentation Analysis:
The global biscuits market is segmented based on product type, distribution channel, and region:
Product Type: The biscuits market is segmented into Sweet Biscuits, Savory Biscuits, Crackers, Filled/Coated Biscuits, and Wafers. The Sweet Biscuits segment is expected to dominate the market during the forecast period, driven by their widespread popularity across the globe. Sweet biscuits are loved for their taste, energy content, and availability, making them a preferred snack in many regions. The growing demand for ready-to-eat snacks, especially in supermarkets and convenience stores, is expected to fuel the growth of this segment.
The Savory Biscuits and Crackers segments are also expected to grow, with consumers looking for a variety of options in savory snacks. Filled or Coated Biscuits are increasingly gaining traction, offering a blend of flavors with fillings like chocolate, cream, and fruit.
Distribution Channel: The market is also segmented by distribution channel, including Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail. The Online Retail segment is expected to experience the highest growth, with a CAGR of 4.98% during the forecast period. The increasing popularity of e-commerce platforms allows consumers to conveniently purchase biscuits, often with the added benefit of discounts and home delivery.
Supermarkets and hypermarkets continue to dominate the market, thanks to their wide variety and ease of access. Consumers can purchase premium biscuits and new product variants at their convenience. Convenience stores also see a steady demand for biscuits, particularly for on-the-go consumption.
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Regional Insights:
North America: North America is expected to maintain a significant share of the global biscuits market throughout the forecast period. The demand for biscuits in the U.S. is primarily driven by indulgence and snacking culture, with key players like Mondelez International and PepsiCo capitalizing on this demand. Health-conscious trends have led to an increase in the popularity of healthier biscuit options in the region.
Europe: Europe is witnessing steady growth in the biscuits market, with consumers showing an increasing preference for healthier alternatives. The demand for dietary biscuits, such as gluten-free and low-sugar biscuits, is growing in response to increasing health awareness. Key players like Walkers and Godiva are expanding their premium biscuit offerings in response to changing consumer preferences.
Asia Pacific: Asia Pacific is set to experience the fastest growth in the biscuit market, particularly in emerging markets like India and China. Rising disposable incomes, an expanding middle class, and increasing demand for quick, convenient snack options are key drivers of market growth in the region. Additionally, the popularity of biscuits as an alternative to bread and confectionery products is surging.
Country-Level Analysis:
United States: The U.S. is a dominant player in the global biscuit market. The demand for sweet biscuits, crackers, and premium snack biscuits continues to grow. The popularity of biscuits during festive seasons, such as Christmas and Thanksgiving, also boosts sales. Furthermore, health-conscious consumers are increasingly opting for low-calorie, high-fiber, and gluten-free biscuits, driving innovations within the market.
Germany: Germany is one of the leading European countries in biscuit consumption, with a preference for both sweet and savory biscuits. The market is witnessing a rise in demand for organic and health-conscious biscuits. Consumer trends indicate a growing interest in biscuits made with whole grains, seeds, and natural sweeteners. As a key hub for premium biscuit brands, Germany is also driving demand for high-quality, gourmet biscuits.
India: India is seeing an exponential rise in the demand for biscuits, particularly in the urban areas. The growing middle-class population, along with an increasing number of working professionals, is contributing to the market's expansion. Biscuits are increasingly being used as quick snacks, and the demand for healthier options, such as multigrain and low-sugar biscuits, is on the rise. Additionally, the presence of domestic players like Britannia and Parle is fueling market competition.
Commutator Analysis:
The global biscuit market is highly competitive, with major players such as Mondelez International, Britannia Industries, Parle Products, and Nestlé leading the industry. Mondelez, with its flagship brand Oreo, continues to be a major player in the sweet biscuit segment. The company is focusing on expanding its product portfolio with new flavor variants and healthier options to meet the growing demand for low-sugar and gluten-free biscuits.
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Britannia Industries, one of India's largest biscuit manufacturers, has capitalized on the health-conscious trend by introducing NutriChoice, a range of healthier biscuits. The company has also ventured into premium biscuit offerings to cater to a wider audience. Parle Products is another key player in the market, known for its value-oriented biscuits and extensive distribution network, particularly in emerging markets like India.
The competition among these companies is intensifying as they focus on innovation, health-driven products, and expanding their geographical reach. Furthermore, regional players are also capitalizing on the growing demand for local and organic biscuits, offering an additional layer of competition.
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