The
Switzerland biscuits market features a fragmented marketplace, with
the presence of a large number of large, small, and unorganized
vendors owing to low entry barriers, states TMR in a recent report.
The rising costs of raw materials is expected to intensify the price
wars in the market among key players in the next few years.
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To
appeal to the shifting choices of consumers from high-fat and
high-sugar content products to healthier ones, the focus on
production of product varieties such as digestive biscuits, dietary
biscuits for weight loss, and protein-enabled biscuits has
substantially increased. Production of biscuits containing high
levels of fiber and reduced levels of sugar is also gaining
prominence among key vendors as a way of appealing to the rising
population of health conscious consumers. Some of the key vendors
operating in the Switzerland biscuits market are Kägi Söhne AG.,
Kambly SA, HUGAG, Lefèvre-Utile, Barilla G.e R. Fratelli S.p.A,
Walkers Shortbread Ltd, Läckerli Huus Ag, Wernli AG, and Nestle S.A.
Thriving
Tourism Industry Aiding Rise in Consumption of Swiss Biscuits
The
continuous rise in the number of tourists in the country in the past
has had a huge impact on the overall sales of local made
confectionary and bakery products. The number of tourists arriving in
the country in 2014 reached a record 9,158,000 in 2014 from 8,967,000
in 2013. The number of domestic and international tourists in the
country is expected to rise at a steady pace in the next few years as
well. Owing to this, the tourism sector will emerge as a high-impact
driver for the overall development of the Switzerland biscuits market
in the next few years.
Apart
from this, sales of biscuits
in Switzerland are also expected to benefit from the steady
rise in retail sales post the economic depression of 2008. To benefit
from the promising growth prospects of the retail sector in the
country, confectionary and bakery product manufacturers are adopting
the course of engaging in organized retailing, marketing, and
effective branding strategies.
Rising
Raw Material Costs to Intensify Price-war Among Key Vendors
The
minimum selling prices of essential raw materials required for the
production of a variety of biscuits have witnessed price rise of in
the range of 25-30% over the past few years. While trying to hold on
to prices of their products in the intensely competitive market, most
biscuit manufacturers have tried ways of reducing production costs.
On an average, biscuit companies have profit margins between 3% and
5%.
Apart
from the rising prices of raw materials, a rise in labor and
packaging costs have resulted in a substantial rise in input costs.
Thus the growth in these profit margins has remained stagnant in the
past few years. High input prices are expected to remain one of the
most significant factors impacting the overall development of the
Switzerland biscuits market in the next few years.
Nevertheless,
the rising demand for easy to consume and healthy snacks and the
overall appeal of Swiss confectionaries among tourists will enable
the market to tread along a sustained growth path in the next few
years. Transparency Market Research estimates that the Switzerland
biscuits market, which held an opportunity worth US$973.3 mn in 2015,
is expected to rise at a CAGR of 1.7% from 2016 through 2024 and rise
to US$1,125.7 mn by 2024. The market is expected to expand at a 1.2%
CAGR in terms of volume over the said period.
The
segment of chocolate coated biscuits held the largest share in terms
of revenue in the market in 2015, an estimated 36.9% of the overall
market revenue that year. The age group of 20-30 years emerged as the
leading contributor to market’s overall sales in the same year.
This
review is based on a recent market research report published by
Transparency Market Research, titled “Biscuits Market - Switzerland
Industry Analysis, Size, Share, Growth, Trends And Forecast 2016 -
2024.”
For
this study, the market has been segmented as follows:
Switzerland
Biscuits Market, Ingredients Analysis
- Flour
- Sugar
- Butter
- Chocolate
- Milk
- Cream
- Others
Switzerland
Biscuits Market, Product Analysis
- Rich Tea
- Bourbon
- Plain biscuits
- Chocolate Coated biscuits
- Filled biscuits
- Others
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