Biscuits

Biscuits

Global Biscuits Market to Reach US$182.7 Billion by 2030

The global market for Biscuits estimated at US$128.4 Billion in the year 2023, is expected to reach US$182.7 Billion by 2030, growing at a CAGR of 5.2% over the analysis period 2023-2030. Sweet Biscuits, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$36.3 Billion by the end of the analysis period. Growth in the Savory Biscuits segment is estimated at 5.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$33.7 Billion While China is Forecast to Grow at 8.1% CAGR

The Biscuits market in the U.S. is estimated at US$33.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$41.6 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Biscuits - Key Trends and Drivers

Biscuits, a beloved snack worldwide, have a rich history and a broad range of varieties that cater to different tastes and cultural preferences. Originating from the Latin word "bis coctus," meaning twice-cooked, biscuits have evolved from simple hard-baked bread to the diverse array of products we see today. Historically, they were considered durable and portable food, making them a staple for travelers and soldiers. Today, biscuits come in various forms, including sweet and savory, crunchy and soft, and are often enjoyed with tea or coffee. Sweet biscuits can range from plain varieties like shortbread to those filled with cream, jam, or coated with chocolate. Savory biscuits include crackers and cheese biscuits, which are popular as appetizers or snacks. The versatility and long shelf life of biscuits make them a staple in many households, contributing to their enduring popularity. This widespread appeal is also due to their convenience, as they are easy to store, require no preparation, and are available in a wide array of flavors and textures.

The biscuit market has seen significant innovation and diversification in recent years. Manufacturers are continuously experimenting with new flavors, ingredients, and textures to cater to evolving consumer preferences. Health-conscious consumers have driven the demand for biscuits made with whole grains, oats, and natural sweeteners, and free from artificial additives and preservatives. Gluten-free, high-fiber, and protein-enriched biscuits are increasingly popular as consumers seek healthier snack options. Additionally, premium and artisanal biscuits have carved out a niche market, offering unique flavors and high-quality ingredients that appeal to gourmet tastes. These premium options often feature exotic ingredients, such as specialty spices, rare nuts, and organic fruits, and are packaged in attractive, upscale packaging that appeals to discerning consumers. The packaging of biscuits has also improved, with resealable packs and smaller, portion-controlled servings becoming more common to meet the needs of on-the-go consumers. Innovative packaging not only preserves freshness but also caters to the increasing demand for convenience and portability.

The growth in the biscuit market is driven by several factors. Advances in food processing technology have enabled manufacturers to produce a wider variety of biscuits that cater to specific dietary needs and preferences, expanding the market. For instance, the development of new baking techniques and ingredient formulations has allowed for the production of gluten-free and low-sugar biscuits that do not compromise on taste or texture. The rising disposable incomes in emerging economies are increasing the demand for premium and indulgent biscuit varieties. As consumers in these regions gain more purchasing power, they are more likely to seek out higher-quality and more luxurious food products. Urbanization and busy lifestyles are spurring demand for convenient, ready-to-eat snacks, positioning biscuits as an ideal option. Additionally, the growing trend of snacking between meals is accelerating the consumption of biscuits. E-commerce and online retail channels are expanding the reach of biscuit brands, making it easier for consumers to access a wide range of products. Online platforms also allow for greater brand visibility and direct-to-consumer sales strategies, which can drive growth. Marketing strategies emphasizing health benefits, natural ingredients, and sustainable practices are resonating with consumers and driving sales. Brands that highlight their use of organic ingredients, eco-friendly packaging, and ethical sourcing practices are finding favor with environmentally conscious consumers. Furthermore, seasonal and festive promotions are boosting biscuit sales, especially during holidays and special occasions. Limited-edition flavors and holiday-themed packaging create a sense of urgency and excitement, encouraging consumers to purchase more. These factors collectively propel the growth of the biscuit market, ensuring its dynamic presence in the global food industry.

Select Competitors (Total 231 Featured) -

• Britannia Industries Ltd.
• Britannia Industries Ltd.
• Kellogg (Aust) Pty., Ltd.
• Mondelez International
• Parle Products Pvt., Ltd.
• PepsiCo, Inc.
• Yildiz Holding A.S.

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