Market Definition
Biscuits are cookies or crackers that most people munch upon, can be sweet or savory, and are baked in the oven. They are one of the most popular snacks worldwide and come in a wide variety. In fact, with growing health consciousness & variety of flavors in biscuits, consumers are augmenting the demand for healthy & organic options while generating lucrative opportunities for manufacturers to bring out new varieties of these savory and expand their visibility & portfolio across the world.
Moreover, as biscuits are experiencing a massive demand from consumers of all age groups, the advent of new flavors & growing consumer awareness about their health benefits are also fueling the growth of the global biscuits market. Hence, consumer preferences toward biscuits over other snacks are escalating swiftly and extensively.
Market Insights
The Global Biscuits Market is projected to grow at a CAGR of around 5.42% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven by the growing consumer demand for tasty & healthy snacks, coupled with the abundant availability of a wide variety of biscuits in numerous flavors & ingredients, which exemplifies their massive demand & popularity worldwide.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) |
5.42% |
| Country Covered | The US, Canada, Mexico, Brazil, Argentina, Germany, The UK, France, Italy, Spain, Russia, UAE, Saudi Arabia, India, China, Japan, Australia, South Korea |
| Key Companies Profiled | Britannia Industries, Burton's Biscuit Company, Bahlsen GmbH & Co. KG, Campbell Soup Company, Cadbury, ITC Limited, Kellogg Company, Lotus Bakeries NV, Mondelez International Inc., Nestlé UK Ltd., Parle Products Pvt. Ltd., United Biscuits, Walkers Shortbread Ltd., Yildiz Holding Inc., Others |
| Unit Denominations | USD Million/Billion |
Besides, easy storage, consumption, & longer shelf life of biscuits have also propelled their demand across numerous countries. It, in turn, has generated growth opportunities for manufacturers to increase their production & distribution capacities and expand their product portfolio & scalability across different regions, thereby contributing substantially to the overall market growth.
Moreover, convenient packaging and the rising popularity of on-the-go snack food are also boosting the expansion of the Global Biscuits Market. Furthermore, with shifting consumer preferences toward online portals for purchasing goods, many companies are now offering their products through digital mediums, alongside exciting offers, deals, & doorstep delivery services.
As a result, the ease of selection from the variety, convenience of delivery, & effortless payment options is attracting a massive consumer base, which projects remunerative prospects for the Global Biscuits Market in the years ahead.
Key Trend in the Global Biscuits Market
The rising health consciousness among people remains a prominent factor behind the mounting demand for healthy biscuits. As a result, the accelerating production of gluten-free biscuits is a significant contributor to the increasing size of the Global Biscuits Market.
Since gluten can cause health issues like Celiac disease, i.e., seen extensively across Asia-Pacific in countries such as India, the leading manufacturers are actively working toward expanding the production of gluten-free biscuits across the region and contributing to the overall market expansion.
Impact of Covid-19 on the Global Biscuits Market
The advent of Covid-19 in 2020 had severe consequences on most industries worldwide, where the Global Biscuits Market was no exception. Owing to the increasing number of Covid-19 cases, governments of different countries imposed stringent movement restrictions & lockdowns to keep things in control. It, in turn, demonstrated a declining demand for biscuits globally, as the supply chain, manufacturing, & distribution channels were hampered severely. However, the leading players in the Global Biscuits Market witnessed a temporary hike in the demand for biscuits amidst the crisis as people began stockpiling products owing to the uncertainty of lockdown durations.
Consequently, the leading players observed immense pressure to increase their production capacities, which were already undergoing challenges, in order to meet the burgeoning consumer requirements. On the other hand, with the gradual improvement in the pandemic situation, governments started uplifting restrictions, which led to the resumption of supply chains & manufacturing operations. Hence, the production of biscuits, the functioning of bakeries, and the recommencement of supermarkets & specialty stores, among others, resulted in the rising consumer demand for biscuits, owing to which the global market witnessed an upward trend.
