Biscuits Market is experiencing significant growth, with a projected increase in market value, and key players strategically positioning themselves through mergers and acquisitions. In 2024, the biscuits market is not only expanding in traditional markets like the US and Europe but is also showing impressive growth across Asia-Pacific countries, including Vietnam, Thailand, Singapore, Japan, and South Korea.
This press release delves into the latest news, key developments, and mergers across various regions, highlighting innovations, new product launches, and the major players dominating the global biscuits market.
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Biscuits Market Overview
The global biscuits market is forecast to grow at a steady pace, driven by consumer demand for both traditional and innovative biscuit products. Market analysts predict a compound annual growth rate (CAGR) of 4.7% from 2024 to 2030, reaching USD 47 billion by the end of the decade.
Key driving factors include:
- Rising demand for healthy snack alternatives.
- The growing popularity of premium biscuits with unique ingredients.
- Innovative packaging solutions to appeal to eco-conscious consumers.
Key Developments in the Biscuits Market
Vietnam
Vietnam’s biscuits market is seeing a shift toward healthier, low-sugar options, catering to the rising health consciousness of consumers. Local and international brands are investing in the production of biscuits made with natural ingredients like oat and coconut flour, while offering sugar-free variants.
Thailand
In Thailand, biscuits with ethnic flavors such as matcha and pandan are gaining popularity. Thai consumers are increasingly looking for premium biscuits that provide both taste and nutritional benefits. Local players are collaborating with international suppliers to introduce high-quality biscuits in innovative packaging.
Singapore
Singapore is witnessing an uptick in demand for artisanal biscuits, with consumers leaning toward premium products made with organic ingredients. The government’s push for food sustainability has led to the introduction of eco-friendly biscuit packaging solutions in the market.
Japan
In Japan, biscuit innovation is closely tied to the country’s strong confectionery culture. Brands are focusing on the fusion of traditional flavors like red bean paste with Western biscuit formats. The premium segment is also growing as consumers seek indulgent experiences.
South Korea
South Korea’s biscuits market is booming due to the country’s strong focus on convenience and snacking. Traditional cookies such as “Choco Pie” are undergoing transformations, with brands introducing plant-based versions to cater to health-conscious consumers.
European Countries
In Europe, the biscuits market continues to evolve, driven by demand for indulgent treats with clean labels. Biscuit makers are responding to this trend by using fewer additives and preservatives in their products, focusing on high-quality ingredients sourced locally.
United States
In the US, the biscuits market is seeing an increase in consumer preference for gluten-free and vegan options. The rise of direct-to-consumer sales channels, including online retailers and subscription services, is also contributing to market growth.
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Mergers and Acquisitions in the Biscuits Market
Several strategic mergers and acquisitions are reshaping the competitive landscape of the biscuits market. Notably:
- PepsiCo recently acquired Suntai Foods, a leading biscuit manufacturer in Vietnam, to expand its market presence in Southeast Asia. This acquisition will allow PepsiCo to tap into the growing demand for biscuits in Vietnam and neighboring countries.
- Mondelez International, the owner of Oreo, has recently made a move to acquire Britannia Industries in India. This acquisition enhances Mondelez’s position in the Indian market, enabling it to offer a wider variety of biscuits and snacks.
- Nestlé has partnered with Unilever to launch a joint venture in Southeast Asia to introduce healthier biscuit variants, aiming to cater to the growing health-conscious segment in countries like Thailand, Singapore, and Malaysia.
Key Players in the Biscuits Market
Several key players dominate the global biscuits market, driving innovation, product launches, and market expansion:
- Mondelez International (Oreo, BelVita): Continues to innovate with healthier biscuit options, including gluten-free and organic biscuits.
- PepsiCo (Lay’s, Quaker): Strong in the biscuits market in Asia-Pacific and the US, particularly in the savory biscuit segment.
- Nestlé: Focuses on premium and health-focused biscuits, with a growing presence in the Asian market.
- Unilever: Known for its strong portfolio of biscuit brands, including Lipton and Ben & Jerry’s in the premium snack category.
- Britannia Industries: One of the largest biscuit producers in India, expanding its reach globally through partnerships and innovations in product offerings.
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Regional Market Insights: Asia-Pacific Focus
The Asia-Pacific region is expected to witness the highest growth in the biscuits market. The combination of rapidly changing consumer preferences, a large population base, and increased disposable incomes in countries like Vietnam, Thailand, Japan, and South Korea is fueling the demand for biscuits. Innovations in biscuit flavors, packaging, and health-conscious products are driving the market forward in this region.
Biscuits Market Segments:
by Flavor Type
Plain
Chocolate
Sour Cream
Cheese
Spiced
Fruits and Nuts
by Product Type
Sweet Biscuits
Savory
Crackers
Filled/Coated
Wafers
by Source
Wheat
Oats
Millets
by Distribution Channel
Supermarket/Hypermarket
Convenience Store
Specialty Store
Online Retail
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Key Players:
1. Britannia Industries
2. Walkers Shortbread Ltd
3. Parle Products Pvt Ltd
4. Burton’s Biscuit Company
5. Yildiz Holding Inc.
6. Bahlsen GmbH & Co. KG
7. Campbell Soup Company
8. Nestle SA
9. Kraft Foods Group, Inc.
10. Lotus Bakeries NV
11. Dali Food Group Co, Ltd.
12. The Hershey Company
13. Kambly SA
14. United Biscuits Company
15. Ulker Biskuvi Sanayi A.S.
16. Cornu AG
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