Transparency
Market Research states that the competition in the global biscuits
market is highly fragmented due to a significant number of
international and local players. Some of the leading players making
their mark in the biscuits market are The Kellogg Company, ITC
Limited, Nestle SA, Kraft Foods Group, Inc., and Campbell Soup
Company. Tough to cutthroat competition, several players are
emphasizing on commercializing unique flavors wrapped in unique
packaging. Furthermore, the biscuit manufacturers are also trying to
tap into the new and emerging wave of health foods by using healthy
raw materials to manufacture tasty biscuits.
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According
to the research report, the global biscuits market is estimated to
reach a valuation of US$76,384.9 mn by the end of 2017 and
US$109,959.9 mn by the end of 2025. During the forecast years of 2017
and 2025, the global market is expected to register a CAGR of 4.7%.
Of all the products, the sweet biscuits are expected to lead the
global market due to growing number of consumers for the same. This
product segment is slated to exhibit a CAGR of 4.7% over the forecast
period. Geographically, Asia Pacific is projected to show a higher
expansion rate than the others due to an ever-growing consumer base.
This regional market is expected to rise at a CAGR of 4.9% between
2017 and 2025.
Convenience
of Consuming Biscuits as Qucik Meals Continues to be Market’s Key
Driver
Biscuits
are one of the most important snacks used in an average household.
They are a variety of breads popular for breakfast and other meals. A
lot of different type of biscuits are being manufactured by the
various large scale companies with plants, where they are packaged
and supplied within a short time span. However, even to this day a
large scale production some special type of biscuits are produced by
small scale bakers. The biscuits are made from various combination of
raw materials such as flours, shortening, leavening, and water or
milk. The type of biscuits included in the report are sweet biscuits,
savory, crackers, filled/coated, wafers, and others.
Increasing
consumer demand for natural and GMO free products is increasing the
biscuits
market. Due to rising health awareness and food safety
concerns more and more consumers are shifting towards natural foods.
Furthermore, increasing convenience in foods i.e. due to consumer’s
busy lifestyle new methods of purchasing products are gaining
popularity such as virtual supermarket and mobile phone shopping.
Consumer can purchase groceries directly from their cell phones at
any place during the day. Increasing mordent retail formats like
supermarket/hypermarkets in developing countries is rising the
biscuits market. Increasing online retailing is also the major driver
for biscuit manufacturer to enhance customer base. Moreover,
increasing consumer demand for diverse variety of biscuits including
superior taste, nutritious, and concern for safety of food is driving
the biscuits market. Also, people in developing countries prefer
nutritious biscuits with tea in breakfast.
Growing
Labor Costs becomes a Tough Challenge for Global Biscuits Market
Some of the restraints that are potentially restricting the growth of the biscuits market are shortage of skilled staff and high manpower cost are some of the key roadblocks that have plagued the industry’s development over the years. Increase in labor cost is a major barrier for biscuit manufacturer. Furthermore, another prospective restraint of biscuits market is growing old age population is a challenge for biscuit manufacturer due to growing birth rate and low death rate, manufacturers has to provide food to all ages. This has created challenge for manufacturers to produce product according to older generation.
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