The
global market for biscuits is displaying a highly competitive
business structure, finds a new research study by Transparency Market
Research (TMR). Britannia, Mondelez International Inc., Lotus
Bakeries NV, ITC Ltd., Campbell Soup Co., Kraft Foods Group Inc.,
Nestle SA, The Kellogg Co., Dali Food Group Co Ltd., National Biscuit
Industries, and many more are prominent part of the competitive
landscape of this market, making it extremely fragmented. The leading
companies are focusing on expanding their regional bases to
strengthen their position. Over the coming years, vendors in this
market are likely to take up strategic partnerships, states the
research report.
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According
to the research report, the global biscuits market was worth US$76.38
bn in 2017. Expanding at a CAGR of 4.70% during the period from 2017
to 2025, the market is projected to reach US$109.95 bn by the end of
the forecast period. Savory biscuits, sweet biscuits, crackers,
wafers, filled/coated biscuits are the main products available in the
global market. Among these, the demand for sweet biscuits is
comparatively high and the trend is anticipated to remain so over the
next few years, reports the research study.
Europe
and Asia Pacific Excluding Japan to Remain Dominant
On
the basis of the geography, the global market for biscuits has been
segmented into North America, Asia Pacific excluding Japan, Latin
America, Japan, the Middle East and Africa, and Europe in this
research report. Among these, the markets in Asia Pacific excluding
Japan and Europe has acquired the dominance, thanks to the high
consumption biscuits.
This regional market is anticipated to remain on the top over the
next few years. The increasing number of bakeries and soaring demand
for different types of breads and confectioneries are likely to
support these regional markets in the years to come. North America
and the Middle East and Africa are also expected to witness a
significant rise in the years to come, states the research report.
Rising
Demand for Convenient Food to Support Market Growth
“The
global market for biscuits is benefiting substantially from the
rising demand for healthy snacks and the augment in the per capita
food consumption in emerging countries,” says an analyst at TMR.
Going forward, the market is likely to be driven by the augmenting
demand for convenience food, rise in the young population, and
innovation in packaging over the next few years, states the research
report.
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