The global biscuits market size was valued at USD 114,247.60 million in 2021. It is projected to reach USD 184,977.63 million by 2030, growing at a CAGR of 5.50% during the forecast period (2022-2030).
A baked and formed food item made of flour is called a biscuit. Biscuits are typically flat, firm, and unleavened in most countries. Consumers' growing need is pushing the industry for quick snacks made with nutritious components. The most current and prevalent trend is food-on-the-go, which consumers must consider while making food product purchases. It now plays a significant role in propelling the worldwide biscuit industry. The industry has grown due to frequent product launches with novel formulas in the biscuits, such as low fat, gluten-free, low carb, organic, and high fiber biscuits.
Growing Product Innovation
The biscuit market is expanding significantly as its competitors constantly differentiate their products in ingredients, flavor, composition, and packaging to survive in a cutthroat industry. In light of this, the worldwide biscuit market is experiencing increased product innovation and new product development. The rise in the biscuit market over the past few years can be attributed to new items becoming accessible on store shelves, which draws early adopters and propels the industry forward. Leading players target consumer groups with particular interests to differentiate their product offerings and increase their customer base. They are heavily leveraging global consumption trends, of which prominent examples are organic/natural, vegan, and products with unique ingredients.
Rising Demand for Healthy Biscuits
Global demand for healthy snack bars poses a challenge to the biscuit industry. Granola bars have become very popular in recent years as more nutritious snacks. Additionally, there is a concurrent increase in demand for snack food bars that are very nutritional. The demand for snack bars is driven by the modern consumer's need for healthier meal replacement options. The consumption of processed snacks, such as frozen, dried, and preserved forms of processed fruit snacks, offend some customers even if fruit snacks and other snacks, like yogurt, cereal bars, and others, are considered healthier options for snacking. Consumers are shifting their diets to incorporate more fresh fruits and vegetables because they do not contain any of the processed ingredients and toxins found in packaged snacks.
Lack of Production and Effectiveness
Cracks and splits can form in biscuit dough because of the unequal distribution of heat and water during checking, a productivity concern in the biscuit sector. Variations in product weight represent a severe challenge to the industry and cause businesses to lose a lot of money. The primary cause is biscuit expansion, negatively affecting units per package and the industry's bottom line. According to Vanessa Martins Mendes, marketing leader for biscuits and bakery, "this is a category of little innovation, but there is still much potential for the industry to fulfill and surprise consumer wants." "This involves creating healthier and specifically tailored products to fit various demands, such as those of adults over 60, a market whose consumption of items in this category often declines as it searches for alternatives that better suit its unmet needs."
New Innovations
The biscuit industry is attractive and established in many countries, using conventional methods, but it faces many obstacles. In order to help biscuit manufacturers better meet consumer demands, DuPont and Euromonitor conducted a study. The study aimed to help manufacturers reduce sugar and fat while increasing fiber and protein in biscuits. Thus, innovations in the biscuit industry with ongoing trends are anticipated to create new opportunities for the biscuit market during the forecast period.
| Study Period | 2018-2030 | CAGR | 5.50% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 114,247.60 Million |
| Forecast Year | 2030 | Forecast Year Market Size | USD 184977.63 Million |
| Largest Market | Europe | Fastest Growing Market | Asia-Pacific |
The global biscuits market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Europe is the most significant shareholder in the global biscuits market and is expected to grow at a CAGR of 4.85% during the forecast period. Consumers in the United Kingdom are driven by indulgence, depending on the variety of biscuits and the box size. Various fresh goods are frequently released, including morning biscuits, "thins," free-from alternatives, and healthy biscuits. Consequently, the country's desire for more nutritious biscuits increased. Furthermore, Mondelez International launched a Cadbury-branded biscuit with the option to consume the product warm straight out of the microwave as part of its strategy to target the premium biscuits segment in the United Kingdom. The country's changing consumer tastes saw a steady decline in the market for classic ordinary biscuits while sharply increasing the desire for "premium experiences."
Asia-Pacific is anticipated to grow at a CAGR of 5.90%, generating USD 39,786.06 million during the forecast period. The biscuits market in China is being driven by an increase in the consumption of bakery and cereal products because more people are becoming health-conscious, manufacturers are making a variety of flavors of biscuits available, and the working population is expanding. According to the Direct China Chamber of Commerce, savory biscuits made up 39% of the market in 2018, while sweet biscuits accounted for 60%. Sandwich biscuits, chocolate-coated biscuits, and specially designed biscuits with appealing packaging, tasty flavors, and smaller packets like 100-200gm are the most popular biscuits in China.
The demand for baked goods like cookies and biscuits across Europe has been booming. Some of the largest biscuit producers in the US are Mondelez International, The Kellogg Company, Just off Melrose Incorporation, Christie Cookies Company, Shultz Foods Co., and Benzel Food Distributors. National Biscuit Company, Mr. Hanes Moravian Cookie Bakery, and Two Smart Cookies. The businesses also participate in various in-store promotions emphasizing new product development and marketing communications. These in-store specials focus on discounts, such as extra value bundles or buy one, get one free deal. Market players are using product innovation as a tactic to contend with the highly fragmented biscuit market. Market players are also increasing manufacturing capacity to increase product availability, which is anticipated to boost the market during the forecast period.
LAMEA is anticipated to grow significantly during the forecast period. Biscuit producers are lowering their products' sodium, sugar, and trans fat content to fulfill public health guidelines and adding fibers, grains, and minerals to suit the demand of customers ready to spend more on healthy food options. However, during the years 2015 and 2016, the Brazilian government increased the price of electricity, which increased costs inside manufacturing facilities. Fuel price increases also increased transportation costs, which led to a restructuring of biscuit prices across the Brazilian biscuit market and an 8% to 10% nominal increase in the value of biscuit sales.
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The global biscuits market is segmented by product type and distribution channel.
Based on type, the global biscuits market is bifurcated into crackers and savory biscuits, and sweet biscuits.
The sweet biscuits segment is the highest contributor to the market and is expected to grow at a CAGR of 5.55% during the forecast period. Every economic sector wants and consumes plain sweet biscuits, and their market share is predicted to grow steadily during the forecast period. In addition, people enjoy this kind of biscuit more because they may consume it whenever it is convenient, which promotes market expansion. Additionally, customers worldwide are looking for biscuits that are both convenient and help measure nutrient intake due to today's hectic lifestyles and growing nutritional awareness. As a result, businesses are launching digestive biscuits more frequently and inventively, new plain biscuits, especially in emerging nations where the consumption of health-based biscuits is rising. The best-known companies in India for simple biscuits include Parle and Britannia.
Consumers are becoming more conscious of the ingredients in their food and seek higher-quality, healthier foods. In addition, consumers' eating preferences have changed noticeably, with most favoring straightforward meals and snacks. The primary driver of plain cracker demand is the perception among customers that they are healthier than other types of crackers. Additionally, plain crackers have a very low dietary fat content, which raises their market value. Many individuals also use plain crackers as a home cure to calm an upset stomach and relieve nausea. Contrarily, plain cracker biscuits are widely consumed with tea worldwide, making them the best choice for a light breakfast, particularly in nations like India. As a result of this widespread consumption at breakfast, the plain cracker biscuit market is predicted to grow during the forecast period.
Based on the distribution channel, the global biscuits market is bifurcated into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail, and others.
The supermarkets/hypermarkets segment owns the highest market share and is expected to grow at a CAGR of 4.95% during the forecast period. One of the main tactics for increasing the sales of biscuits in convenience stores is to offer reasonable/affordable bargains, promotional pricing, and a variety of helpful services, like product testing and sampling, to customers. Convenience stores now have a competitive advantage over the other channels regarding brand visibility and retail spacing techniques. Convenience stores benefit from sampling emerging brands since in-store tastings are conducted as a fun activity to improve awareness and boost sales of these companies. The top convenience stores, including Seven & I Holdings Co Ltd, Wawa Inc, GS Holdings Corp, and many others, stay open later because of their intense competition. This means customers have more time to buy last-minute items, which helps the market grow.
Local cafes, kiosks, and artisanal and home-based bakeries are examples of specialty stores. Home bakers are also projected to significantly impact the specialty shop segment of the global biscuit industry due to their simple production. Due to lower product prices, the variety of biscuits sold at these stores makes up a significant portion, resulting in high-volume products typically acquired at lower price points. This drives specialty store growth, especially in emerging nations like India, where Frontier Biscuits, Karachi Bakery, and others offer biscuits in cities, malls, and airports.
