Biscuits Market Poised for Significant Growth
The global biscuits market is experiencing substantial expansion, driven by evolving consumer preferences and increased demand for convenient snack options. According to Maximize Market Research, the market was valued at USD 122.96 billion in 2023 and is projected to reach nearly USD 173.02 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 5% during the forecast period.
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Key Market Drivers
- Health-Conscious Consumption: There is a rising demand for healthier biscuit options, including low-calorie, low-fat, and sugar-free varieties, as consumers become more health-conscious.
- Increased Availability and Accessibility: The proliferation of hypermarkets, malls, and online platforms has made biscuits more accessible to consumers worldwide, offering a wide variety of flavors and types.
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Regional Insights and Key Developments
Vietnam: Biscuits Market Opportunities
Vietnam’s biscuits market is witnessing growth due to increasing urbanization and a rising middle class with a preference for convenient snack options. The expansion of retail chains and e-commerce platforms in the country presents significant opportunities for biscuit manufacturers to tap into this emerging market.
Thailand: Biscuits Market Growth
In Thailand, the biscuits market is expanding, driven by a growing economy and increased consumer spending on packaged foods. The demand for both traditional and innovative biscuit flavors is on the rise, providing growth prospects for local and international brands.
Japan: Biscuits Market Trends
Japanese consumers are showing a preference for premium and innovative biscuit products, including those with unique flavors and health benefits. The trend towards functional foods is influencing the biscuits market, with an emphasis on quality and novelty.
South Korea: Biscuits Market Consolidation
South Korea’s biscuits industry is experiencing consolidation, with major players engaging in mergers and acquisitions to strengthen their market position. This strategy aims to enhance product offerings and expand distribution networks to meet diverse consumer preferences.
Singapore: Biscuits Market Updation
In Singapore, there is a trend towards updating the biscuits market with healthier and premium options. Consumers are seeking products that align with health and wellness trends, leading to the introduction of biscuits with functional ingredients and reduced sugar content.
United States: Biscuits Market Opportunities
The U.S. biscuits market presents significant opportunities, particularly in the segments of organic and gluten-free products. Growing health awareness and dietary preferences are driving the demand for such specialty biscuits, encouraging manufacturers to innovate and cater to these niches.
China: Biscuits Market Growth
China’s biscuits market is experiencing rapid growth, fueled by urbanization and changing consumption patterns. The increasing popularity of Western-style snacks and the expansion of retail infrastructure are contributing to the rising demand for biscuits across the country.
Europe: Biscuits Market Trends
In Europe, there is a strong trend towards sustainability and clean-label products in the biscuits market. Consumers are favoring biscuits made with natural ingredients and eco-friendly packaging, prompting manufacturers to adopt sustainable practices and transparent labeling.
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Biscuits Market Segment Analysis:
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
Biscuits Market, 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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Conclusion
The global biscuits market is on a robust growth trajectory, driven by health-conscious consumption, increased accessibility, and evolving consumer preferences. Country-specific developments, including mergers and acquisitions, are shaping the industry’s landscape, presenting numerous opportunities for stakeholders.
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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