Biscuits Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Biscuits Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Biscuits Market

The biscuits market size was valued at USD 104.32 billion in 2023, and the market is now projected to grow from USD 108.75 billion in 2024 to USD 167.69 billion by 2032, exhibiting a CAGR of 5.56% during the forecast period of 2024-2032.

The COVID-19 pandemic led to a substantial increase in demand for convenience foods due to their longer shelf life. Consequently, the biscuit industry experienced higher sales compared to pre-pandemic levels. Moreover, the pandemic presented several health and wellbeing trends motivation consumers to adopt more conscious eating habits.

As consumers' lifestyles become progressively chaotic, the demand for convenient, healthy snacks that can be enjoyed on the go or during quick breaks is growing. Snacking is prevalent across all age groups increasing the growth of this product category. Moreover, consumers are fascinated to new products that offer a fresh and unique experience. Presenting innovative flavors, element combinations, or product formats can enhance consumer engagement, leading to higher sales and boosted brand loyalty.

The global demand for clean-label and gluten-free biscuits, cookies, and crackers is on the rise. One of the primary drivers behind this trend is the growing prevalence of celiac disease, which has led consumers to prefer gluten-free products. Moreover, the popularity of out-of-home snacking is rising as more people join the workforce and spend extended periods away from home. Among several snacks, the demand for biscuits has remarkably increased. The increasing trend of casual snacking is a significant factor contributing to the biscuits market growth.

Comprehensive Analysis of Biscuits Market

The market can be segmented in various ways depending on the focus of study such as by flavor, by distribution channel and by application. Based on the application, the market is segmented into crackers, sweet biscuits, and savory biscuits. By flavor, the market is segmented into plain, chocolate, cheese, fruit & nut, and other varieties. By distribution channel, the market is segmented into hypermarkets/supermarkets, specialty stores, independent bakeries, and online platforms.

Asia Pacific region is dominating the biscuits market share due to the development of retail stores and e-commerce platforms in the region has formed new distribution channels for biscuit manufacturers. As customers become more aware of appropriate nutrition and prioritize a healthy diet, these factors have become vital in today's fast-paced lifestyle. Consequently, there is a growing demand for convenient food items that help individuals track their nutrient intake.

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and growing market share by merger, partnerships and others. These players include Yıldız Holding (Turkey), Mondelēz International (U.S.), Kellogg Co. (U.S.), ITC LIMITED (India), Britannia Industries (India), Lotus Bakeries Corporate (Belgium), Campbell Soup Company (U.S.), Nestlé (Switzerland), The Kraft Heinz Company (U.S.), Ferrero (Italy) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In August 2023, Britannia Industries Limited, an Indian multinational FMCG company focusing in the food industry, has presented Jim Jam Pops, a revolutionary open cream biscuit. Labeled 'Biscuit of the Future, this new variant features a single base biscuit, eradicating the need to twist it to relish the creme.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.56% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Product Type

Crackers

Sweet Biscuits

Savory Biscuits

By Flavor

Plain

Chocolate

Cheese

Fruit & Nut

Others

By Distribution Channel

Hypermarkets/Supermarkets

Specialty Stores

Independent Bakeries

Online

By Geography

North America (By Product Type, Flavor, Distribution Channel, and Country)

- U.S. (By Product Type)

- Canada (By Product Type)

- Mexico (By Product Type)

Europe (By Product Type, Flavor, Distribution Channel, and Country)

- Germany (By Product Type)

- France (By Product Type)

- Italy (By Product Type)

- Spain (By Product Type)

- U.K. (By Product Type)

- Rest of Europe (By Product Type)

Asia Pacific (By Product Type, Flavor, Distribution Channel, and Country)

- China (By Product Type)

- India (By Product Type)

- Japan (By Product Type)

- Australia (By Product Type)

- Rest of Asia Pacific (By Product Type)

South America (By Product Type, Flavor, Distribution Channel, and Country)

- Brazil (By Product Type)

- Argentina (By Product Type)

- Rest of South America (By Product Type)

Middle East & Africa (By Product Type, Flavor, Distribution Channel, and Country)

- South Africa (By Product Type)

- UAE (By Product Type)

- Rest of the Middle East & Africa (By Product Type)


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