In addition, the global biscuit market is expected to rise at a CAGR of 4.97%, with a value of USD 106,233.78 million over the estimated forecasting year of 2022-2027.
Biscuits refer to flour-based baked products generally unleavened, hard and flat. They are made using flour, fat, liquid, chemical leavening agent, eggs and other ingredients. Most biscuits are usually sweet and comprise sugar, jam, cinnamon, icing, chocolate, and ginger. On the other hand, some are savory and taste like crackers. Biscuits are one of the most popular packaged snacks, widely consumed by individuals of all age groups across the globe. They are available in various shapes, flavors, toppings, fillings, and colors.
Biscuits are a rich source of essential nutrients, including fibers, carbohydrates and fats, due to which their demand has increased globally. The growing awareness about these product ingredients and benefits among the masses represents the primary factor driving the Biscuit Market growth. Besides this, with the rising health consciousness, consumers are shifting toward healthy snacking options, representing another major growth-inducing factor. Additionally, several leading manufacturers are launching innovative product variants, such as low-calorie, sugar-free, oat-based, nut-based, and high-fiber biscuits, in attractive packaging to expand their customer base and gain a competitive edge. This, in confluence with the heavy investments in aggressive promotional activities by key players, is driving the market growth. Furthermore, the emerging trend of food-on-the-go and the increasing consumption of bakery products due to hectic lifestyles, inflating disposable incomes, and changing dietary habits catalysis market growth.
According to the latest market analysis report, the market has been segmented into distribution channels and regional sectors. With the type section, the market is divided into three parts crackers, savory and sweet. With the distributional channel section, the global biscuit market is classified into five categories: independent bakeries, online channels, convenience stores, supermarkets, and others. On a regional basis, the market is further divided into five sections Asia-Pacific, Europe, South America, North America and Middle East & Africa.
The rising demand for convenient snacking paired with healthy ingredients among European consumers is driven by the biscuit market. Also, consumers across the United Kingdom and Germany are driven by indulgence, depending on the type of biscuit and size of the pack. A diverse range of new products are continually being introduced, including healthy biscuits, ‘thins’, free-from options, and breakfast biscuits. Thus, this is boosting the demand for healthy biscuits in the region. Furthermore, as part of targeting the premium biscuits category in the United Kingdom, Mondelez International rolled out a Cadbury branded biscuit to consume the product warm, out of the microwave.
The demand for gluten-free processed food products, such as bread, crackers, and biscuits, has risen considerably in recent years, across the global market, predominantly in Asia-Pacific. India has the largest population affected by celiac disease in the world. However, the amount of gluten-free food products available in India falls far short. Hence, gluten-free food products have a huge potential, including gluten-free biscuits, in the global market. Whereas, in the global market, the major companies extensively make efforts to bring gluten-free cookies to the retail shelves. An independent research study has stated that an increasing number of American people are turning their backs on food products containing gluten, even though the prevalence of the celiac disease has remained flat in recent years.
Competition is very high in the biscuit market, with virtually no entry barriers due to almost 100% product penetration. Many premier and functional biscuits have hit the market, giving the market leaders a run for their money.
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