Biscuit Market is estimated to be US$ 168.88 billion by 2030 with a CAGR of 3.8% - BY PMI

The report “Biscuits Market by Source, By Packaging, By Distribution Channel - Trends, Analysis and Forecast till 2029’’

COVINA, CALIFORNIA, UNITED STATES, March 21, 2023 /EINPresswire.com/ -- According to the latest research study, the demand of Biscuits Market accounted for US$ 116.71 billion in 2020 and is estimated to be US$ 168.88 billion by 2030 and is anticipated to register a CAGR of 3.8%.

The biscuit market refers to the industry that produces and sells biscuits or cookies. Biscuits are a popular snack food that come in a variety of flavors, shapes, and sizes. The global biscuit market is large and competitive, with many companies vying for a share of the market. The market is segmented based on various factors such as product type, distribution channel, and geography. Product types include sweet biscuits, savory biscuits, filled biscuits, and others. Distribution channels include supermarkets/ hypermarkets, convenience stores, online retailers, and others.

Factors driving growth in the biscuit market include increasing demand for convenient snack foods, changing consumer preferences, and the availability of a wide variety of flavors and types of biscuits. However, the market also faces challenges such as increasing competition, rising raw material prices, and concerns about health and wellness. Overall, the biscuit market is expected to continue growing in the coming years, driven by increasing demand in emerging markets and the introduction of new flavors and product types.

Report Metrics:

Report Attribute - Details
Market Size - US$ 116.71 billion
CAGR - 3.8%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

• In July 2021, FMCG company Britannia, one of the country's largest players in the biscuits sector, debuted '5050 Potazos,' a potato-based biscuit. According to the manufacturer, Britannia 5050 Potazos are thin, crispy, and give the familiar'masaledar' flavours of a potato chip in a biscuit format.
• In August 2021, Britannia recently launched a "ode to simpler times" campaign intended at commemorating the simple joys of the old days and transporting people back to childhood memories, which prompted a surge in demand for the classic pack to be brought back, and the firm listened.

Analyst View:

The demand for biscuits is increasing as a result of improved packaging, new flavours, shapes, and technologies. Also, biscuits are given first priority at all times because they are a convenient and bundled supply that may be readily transported. These are the primary elements that are propelling the global biscuits industry forward. The worldwide biscuits market is also growing due to rising demand for nutritious snacks and rising per capita consumption in developing countries. Natural and GMO-free products are in high demand, which presents a huge potential for market players.

Key Market Insights from the report:

Biscuits Market accounted for US$ 116.71 billion in 2020 and is estimated to be US$ 168.88 billion by 2030 and is anticipated to register a CAGR of 3.8%. Global Biscuits market is segmented into source, packaging, distribution channel and region.

• Based on Source, the Global Biscuits Market is segmented into Wheat, Oats, Multi-grain, and Others.
• Based on Packaging, the Global Biscuits Market is segmented into Pouches/Packets, Boxes, Cans/Jars, and Others.
• Based on Distribution Channel, the Global Biscuits Market is segmented into Store Based and Non-Store Based.
• By Region, the Global Biscuits Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Company Profiles:

The key players in the Biscuits market includes Arnotts Biscuits Ltd., Britannia Biscuits Ltd., Birtons Biscuits Co., Danesita, Inc., Kellogg, Inc., Kraft foofs, Inc., McVITIES Pvt. Ltd., Mondelez International, Nestle Co., Parle Products Pvt. Ltd..

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Drivers and Restrains of Biscuits Market:

For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.

Drivers:

• Growing demand for convenience foods: Biscuits are a convenient and easy-to-carry snack food that can be consumed on-the-go. This has led to an increase in demand for biscuits, particularly in busy urban areas.
• Rising popularity of healthy and natural snacks: Biscuits that are made with natural and organic ingredients, as well as those that are low in sugar and fat, are becoming increasingly popular among health-conscious consumers.
• Increasing urbanization: The growing urban population and changing lifestyles have led to an increase in demand for packaged food items, including biscuits.

Restrains:

• Health concerns: Some biscuits are high in sugar and fat, which has led to concerns about their impact on health. This has led to increasing demand for healthier options and reduced consumption of high-sugar and high-fat biscuits by some consumers.
• Competition from alternative products: There are alternative snack options available, such as energy bars and protein bars that are being marketed as healthier alternatives to biscuits.
• Price sensitivity: The biscuits market is highly price-sensitive, with consumers looking for affordable options. This can make it challenging for manufacturers to maintain profitability while keeping prices competitive.

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