Expanding
demand for healthy snacks and Increase in per capita food consumption
in developing countries are the primary drivers leading the global
biscuits market during the forecast period. The market is also
expected to continue being augmented by rising demand for convenience
food, innovation in packaging, and expanding young population. One
such growth in biscuits market is increasing per capita consumption
of biscuits globally.
The
global biscuits market is, however, currently restrained by the
shortage of food ingredients and labor along with increase in tax
rate. Increasing competition among key players is the main challenge
for biscuit manufacturers which will lead to decrease in the profit
margin. As competition intensifies in the sector with price wars
among leading players, industry players are expected to improve the
efficiency of their value chain, from inbound logistics to
distribution and, to a large extent, marketing and export of
products. Revenue generated from biscuits market is estimated to be
valued at roughly US$76,384.9 mn by the end of 2017 and is expected
to increase at a CAGR of 4.7% over the forecast period. Global
biscuits market are expected to be valued at approximately
US$109,959.9 mn by the end of 2025.
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Sweet
Biscuits to Lead the Pack as they Remain Global Favorites
By
product type, the biscuits market is segmented into sweet biscuits,
savory, crackers, filled/coated, wafers, and others. The sweet
biscuits segment is likely to be the most attractive segment in the
forecast period on the backdrop of the rising consumer preference
towards healthy biscuits. On the basis of source type, the biscuits
market can be segmented into wheat, oats, millets, and others. The
wheat segment is estimated to account for a significant revenue share
of 48.4% in 2017 and is expected to register significant growth rate
during the forecast period.
Furthermore,
on the basis of packaging type, the biscuits market is segmented into
pouches/packets, jars, boxes, peelpaq, and others. Amongst these
segments, the pouches/packets is anticipated to occupy the largest
market share of 40.4% in 2017. Based on distribution channel, the
biscuits market can be segmented into supermarket/hypermarket,
convenience store, specialty store, online retail, and others. The
online retail segment is expected to register high growth rate during
the forecast period. By flavor type, the biscuits
market is segmented into plain biscuits; chocolate, sour
cream, cheese and spiced; fruits & nuts; and others. The plain
biscuits segment is likely to be the most attractive segment in the
forecast period.
Asia
Pacific and Europe to be Key Consumers of Biscuits
On
the basis of region, the market in Asia Pacific (APAC) and Europe is
expected to dominate over the forecast period followed by North
America. A large number of consumer base has been developed in APAC
for the bakery products such as biscuits as an alternative for
breads, and confectioneries. Asia is expected to become a prominent
player by the end of the forecast period with a significant CAGR
attributed to increase in the per capita consumption of biscuits in
the region.
Some
of the major companies operating in the global biscuits market are
Britannia Industries Limited, Lotus Bakeries NV, Mondelez
International, Inc., ITC Limited, Campbell Soup Company, Nestle SA,
Kraft Foods Group, Inc., The Kellogg Company, National Biscuit
Industries LTD SAOG, Dali Food Group Co, Ltd., Brutons Biscuit
Company, The Hershey Company, United Biscuits Company (Y?ld?z Holding
Group), Kambly SA, Walkers Shortbread Ltd., Ulker Biskuvi Sanayi
A.S., Parle Products Private Limited, Dr Gerard sp. z o.o., HUG AG,
and Cornu AG.
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