The
Switzerland biscuits market is fragmented, thanks to the presence of
a massive pool of large, small, and unorganized vendors due low entry
barriers, states a new report by Transparency Market Research (TMR).
Lefèvre-Utile, Confiserie Sprüngli AG, Walkers Shortbread Ltd.,
Kägi Söhne AG., Wernli AG, Kambly SA, Barilla G. e R. Fratelli
S.p.A, Nestle S.A., Lotus Bakeries N.V., Burton’s Food, HUG AG,
Midor AG, and United Biscuit are some of the key vendors of biscuits
in Switzerland. With continual entry of new players, the competition
within this market will remain rising over the next few years, states
the research report.
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According
to the research report, the Switzerland biscuits market stood at
US$0.97 bn in 2015. Rising at a CAGR of 1.70% over the period from
2016 to 2024, the market is anticipated to reach US$1.12 bn by the
end of the period of the forecast. In terms of the volume, the market
will rise at a 1.20% CAGR over the same period. The consumers of ages
between 20 and 30 are the main contributor to the overall revenue
generated in this market. In 2015, this segment accounted for around
28% of the overall market and the scenario is likely to remain more
or less the same in the near future, notes the market study.
In
terms of the product type, the Switzerland market for biscuits has
been classified into bourbon, rich tea, chocolate coated biscuits,
plain biscuits, and filled biscuits. Among these, the chocolate
coated biscuits segment is dominating the overall market and this
scenario is expected to remain so over the next few years. The
segment held a share of 36.9% in the overall revenue generated by
this market in 2015 and is projected to account for 39.4% by the end
of the forecast period. On the basis of the volume, the plain biscuit
segment is leading the Swiss market, states the research report.
“The
Switzerland
biscuits market is benefiting substantially from the rising
influx of tourists in this country over the last few years, which has
made a massive influence on the sales of local biscuits,
confectionary, and bakery products,” says a TMR analyst. The number
of international and domestic tourists in Switzerland is projected to
increase at a healthy rate in the years to come, which is anticipated
to lead to the emergence of the tourism sector as a strong growth
driver of the Switzerland biscuits market in the near future, reports
the market study.
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