The biscuits and cookies market is projected to reach US$ 120.15 billion by 2031 from US$ 87.39 billion in 2023. The market is expected to register a CAGR of 4.1% during 2023–2031. The growing demand for gluten-free and low/no sugar biscuits and cookies is likely to bring new trends into the market during the forecast period.
Increasing consumer interest in premium options and the growing trend toward indulgence in comfort foods are major factors contributing to the biscuits and cookies market growth. Rising disposable income and increasing demand for indulgent and premium food products propel the growth of the biscuits and cookies market. The expansion of e-commerce platforms and the growing influence of international brands have further bolstered the demand for biscuits and cookies. In addition, as more people migrate to urban areas and adopt a busier lifestyle, there is a growing demand for ready-to-eat and convenient food products.
Biscuits and cookies are small, heated food items made with flour, sugar, oil, and other ingredients such as chocolate, oats, raisins, almonds, cashews, and pistachios, along with additional ingredients such as nuts and seeds. Biscuits and cookies are primarily sold through bread shops and online retail channels; they can also be sold through hypermarkets, general stores, and superstores. Biscuits and cookies are a popular breakfast meal due to their high nutritional value, including fats, fibers, and carbohydrates. The growth of the global biscuits and cookies market is driven by the increasing demand for convenience snacking and the availability of healthy biscuit options.
Various industry players have undertaken strategic initiatives to strengthen their positions and capitalize on emerging opportunities. Mergers and acquisitions are prominent strategic initiatives key players adopt to consolidate market share and expand their product portfolios. For instance, in August 2024, Cerealto UK acquired Hill Biscuits, marking an exit for its long-time private equity investor, LDC. Also, partnerships and collaborations are other strategies utilized by biscuit and cookie manufacturers to leverage complementary strengths and resources. By partnering with retailers, distributors, or other food industry players, biscuit and cookie producers can enhance their distribution networks, increase brand visibility, and access new sales channels. For instance, in June 2024, Mondelēz International and Lotus Bakeries partnered to manufacture and sell biscuits in India. Under a dual-pronged initiative, US confectionery and snacking giant Mondelez will manufacture, market, and distribute Biscoff biscuits in India from its existing production network. Major players are investing heavily in marketing and branding to build stronger customer loyalty. Digital marketing campaigns, influencer collaborations, and targeted advertising are increasingly being used to engage with younger consumers and promote new product launches. For instance, in November 2023, Fox's Burton invested in a multi-million-dollar marketing campaign for Maryland cookies. The company launched a 360-marketing campaign, including social and in-store campaigns and a new TV advert, as it debuted new-look packaging.
The proliferation of e-commerce is expected to present a significant opportunity for growth of the global biscuits and cookies market. With the increasing popularity and convenience of online shopping, e-commerce platforms provide biscuits and cookies producers with a direct channel to reach consumers worldwide. By leveraging e-commerce platforms, biscuit and cookie manufacturers can overcome traditional barriers to entry, such as geographic limitations and distribution challenges, and tap into new markets beyond their local regions. As consumers increasingly shift toward online shopping for convenience, the biscuits and cookies market is poised to benefit from greater visibility and wider product availability. According to Agriculture Canada, in the US, grocery e-commerce sales grew 26.4% annually from 2019 to 2023. E-commerce platforms offer biscuit and cookie producers the flexibility to showcase their products and communicate directly with consumers, enhancing brand visibility and customer engagement. Additionally, e-commerce allows biscuit and cookie producers to gather valuable insights into consumer preferences and market trends through data analytics, enabling them to tailor their product offerings and marketing strategies accordingly.
Key segments that contributed to the derivation of the biscuits and cookies market analysis are product type, category, and distribution channel.
The geographic scope of the biscuits and cookies market is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Biscuits and cookies are increasingly popular in Asia Pacific. The market offers a wide variety of biscuits and cookies, including classic plain, chocolate, gluten-free options, and varieties infused with various fruits and flavors. This diverse range of options aims to cater to consumers' tastes and preferences. The Asia Pacific biscuits and cookies market is expanding rapidly due to the growing consumer interest in snacking options and the increasing demand for convenient, ready-to-eat food products. A rise in disposable income, rapid urbanization, and improved living standards propel the biscuits and cookies market growth. Consumers are seeking healthier and more nutritious food items, leading to increased demand for low-sugar, gluten-free, and high-fiber biscuits and cookies. Moreover, the rising popularity of premium products, growing demand for artisanal biscuits and cookies, and increasing availability of plenty of flavors in biscuits and cookies are expected to create lucrative opportunities for the market. Several international and domestic players in the biscuits and cookies market are adopting strategic initiatives such as partnerships, collaborations, expansions, and product launches to cater to the increasing consumer demand for biscuits and cookies in the region. For instance, in June 2024, Universal Robina Corp expanded Munchy's cookies and biscuits into Southeast Asia after integrating its acquisition into its Malaysian unit.
The regional trends and factors influencing the Biscuits and Cookies Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Biscuits and Cookies Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 87.39 Billion |
| Market Size by 2031 | US$ 120.15 Billion |
| Global CAGR (2023 - 2031) | 4.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Biscuits and Cookies Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Biscuits and Cookies Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The biscuits and cookies market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A recent key development in the biscuits and cookies market is mentioned below:
Mondelēz International launched eight non-HFSS products across biscuits, confectionery, and drinking chocolate, aiming to offer a diverse range of snacking options without high fat, salt, or sugar (HFSS) from popular brands like belVita, Cadbury Drinking Chocolate, Maynards Bassetts, and The Natural Confectionery Company. (Source: Mondelēz International Inc, Press Release, August 2022)
The "Biscuits and Cookies Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Biscuits and Cookies Market
Europe accounted for the largest share of the market in 2023.
A rise in demand for various flavored biscuits and strategic initiatives by key players are major factors contributing to the growth of the market.
The growing demand for gluten-free and low/no sugar biscuits and cookies is likely to emerge as a key trend in the market in the future.
General Mills Inc, Pladis Foods Ltd, Mondelez International Inc, Ferrero International SA, Burton's Biscuit Co, Nestle SA, J M Smucker Co, Still Sweet LLC, ITC Ltd, Lotus Bakeries NV, Campbell Soup Co, Parle Products Pvt Ltd, Galletas Gullon SA, UNIBIC Foods India Pvt Ltd, and Britannia Industries Ltd are a few of the key players operating in the biscuits and cookies market.
The market size is projected to reach US$ 120.15 billion by 2031.