Biscuits Market Size, Share, Growth and Industry Analysis by 2027

[Research Report] The biscuit market was valued at US$ 76,886.00 million in 2018 and is projected to reach US$ 111,079.29 million by 2027; it is expected to grow at a CAGR of 4.2% from 2019 to 2027.

Biscuits are small pieces of bread made from a mixture of flour, sugar or salt, butter or vegetable shortening, and baking powder as a leavening agent. There are a variety of biscuits available in the market, such as sweet biscuits, savory biscuits, digestive biscuits, and filled biscuits, among others. Digestive biscuits are a rich source of fiber and are preferred by the consumers who want to avoid consumption of sugar and fructose corn syrups. Biscuits comprise of many nutritional factors such as fats, fibers, and carbohydrates that are essential to human health. The high nutritional value of biscuits makes them a highly preferred breakfast meal consumed globally. Factors such as increasing demand for convenience snacking coupledwith availability of healthy biscuit option is propelling the growth of biscuit market globally. Also, rising trend for food-on-the-go is one of the fundamental considerations for consumers while purchasing food products, hence it has become a lucrative factor for fuelling the market. In addition, frequent launches with new formulations in the basic product such as gluten free, low fat, low carb, high fibre and organic biscuits to attract consumers has further enhanced the market growth.Based on type, the biscuits market has been segmented into sweet, savory, crackers, filled, wafers, and others. Based onpackaging, the biscuits market has been segmented into pouches/packets, boxes, and jars. Based on distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, online retail, and others.

Asia Pacific is expected to register the highest CAGR of 4.8% in the global biscuits market during the forecast period.Several domestic and international companies have a strong foothold in the region. China holds a major share of the market in Asia Pacific, followed by India and Japan. The region largely supports the growth of the biscuits market through effective manufacturing and trade policies, Changing consumer taste preferences and rising demand for processed food, and the availability of numerous product variants boost the growth of the biscuits market in Asia Pacific. Also, the growing demand for biscuits in the snack category due to the elevating preference for convenience food or on-the-go snacks further propels the biscuits market in this region. Innovation in the packing of the products plays a significant role in the rising demand for biscuits in Asia Pacific.

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Biscuits Market: Strategic Insights

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Impact of COVID-19 Pandemic on Biscuits Market

COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then it has spread across the globe at a fast pace. China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths as of March 2020. The COVID-19 outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the biscuits market due to shutting down of factories, obstacle in supply chain, and downturn in world economy.

Use of good-quality raw materials with growing clean label trend

The selection of a prime quality of raw materials is a major aspect of standardized production, and multinational businesses need to invest in into acquire the clean label. To produce biscuits of desired variety and quality, companies are striving to select the best quality flour and essential raw material, which can be supplied continuously with the same superiority. As the biscuit products are not essential goods, attractive ingredients and health benefits or related feature can help the producers win consumers attention. Companies are also focusing on the external appearance of the packaging, which is contributing to the sale of the product. Further, the quality of packaging of exported biscuit products and appropriateness of the product for the taste of people from different export countries also impact international business of biscuit manufacturers. Hence, companies are looking after using fine-quality raw materials in production as well as packaging for securing larger market share.

Type-Based Market Insights

The biscuits market, based on type, has been segmented into sweet, savory, crackers, filled, wafers, and other biscuit types. The sweet segment accounted for the largest share of the global biscuits market in 2018;the market for the filled biscuits is expected to grow at the highest CAGR during the forecast period. Sweet biscuits are consumed worldwide owing to their taste, energy content, and easy availability. The high nutrient content of sweet biscuits also makes it a preferred choice of consumers. Moreover, the growing preference for convenient snacking, together with easy accessibility for consumers through the advancing retail sector, is favoring the growthofthe sweet biscuits market.

Packaging-Based Market Insights

The biscuits market, based on packaging,is segmented intopouches/packets, boxes, and jars.In 2018, the pouches/packets segment accounted for the largest share ofthe global biscuits market, whereas the boxes segment is expected to register the fastest CAGR during the forecast period. Biscuit packaging is mainly done to present the biscuits in an attractive way display the biscuit type, ingredients, and weight maintain the freshness and flavor of biscuits for longer shelf life and protect the biscuits from external harm among other reasons. Moreover, packing biscuits in pouches or packets adds aesthetic attributes that appeal to the customers or helps in easy recognition.

Distribution Channel-Based Market Insights

The biscuits market, based on distribution channel,is segmented into supermarkets and hypermarkets, convenience stores, online retail, and other distribution channel.In 2018, the supermarkets and hypermarkets segment accounted for the largest share of the market, whereas the online retailsegment is expected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are self-help shops giving a wide variety of biscuits such as sweet biscuits, savory, crackers, filled or coated, and wafers. Supermarkets and hypermarkets offer extensive merchandise mix along with different brands of biscuits, placed under the same roof. Biscuits have a dedicated section in the supermarkets and hypermarkets, thus the customers are easily guided to a single point to choose from a wide variety. Therefore, consumers prefer buying biscuit products in supermarkets and hypermarkets. Moreover, the presence of large supermarkets and hypermarkets chains in developed and developing countries boost the sales of biscuits through this channel.

Mergers and acquisitionsare commonly adopted strategies by companies to expand their footprint worldwide. Britannia Industries Limited, Burton's Biscuit Company, and Mondelez International, Inc., are among the market players implementing this strategyto enlarge the customer base and gain significant market share globally, which, in turn, permits themmaintain their brand name in the global market.

Biscuits Market Regional Insights

The regional trends and factors influencing the Biscuits Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Biscuits Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Biscuits Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Biscuits 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 Market are:

1. Britannia Industries Limited
2. Burton's Biscuit Company
3. ITC Ltd.
4. Kellogg Company
5. Lotus Bakeries NV

Disclaimer: The companies listed above are not ranked in any particular order.

Biscuits Market – By Type

• Sweet
• Savory
• Crackers
• Filled
• Wafers
• Others

Biscuits Market – By Packaging

• Pouches/Packets
• Boxes
• Jars

Biscuits Market – By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online Retail
• Others

Company Profiles

• Britannia Industries Limited.
• Burton's Biscuit Company
• ITC Ltd
• Kellogg Company
• Lotus Bakeries NV
• Mondelez International, Inc
• Nestlé S.A
• United Biscuits (UK) Limited
• Parle Products Pvt. Ltd
• Walkers Shortbread Ltd