Biscuit Market Size, Share, Growth Report 2030

The global biscuit market, which was estimated at 77.23 (USD Billion) in 2017 and is predicted to accrue earnings worth 105 (USD Billion) by 2024, is set to record a CAGR of nearly 4.5% over 2018-2024. The report offers valuation and analysis of biscuit market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on value (USD Billion).

Introduction

Biscuit is the bakery item and comprises of nutrients like fats, carbohydrates, and fibers necessary for proper nourishment of human body. The high nutritive value of the baked food item has made it more preferential breakfast diet across the globe. Apparently, biscuits can be easily carried from one location to another and can be stored. It can be consumed by an individual as per the choice. These products are consumed with tea or coffee and are enjoyed by individuals belonging to different age-groups. Furthermore, biscuits of premium quality possesses rich flavor and hence are consumed by a large section of demographic population across the globe. 

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Market Growth Dynamics

Shifting trend towards consuming bakery items such as biscuits is likely to pave the way for the growth of the biscuit market over the forecasting years. In addition to this, a prominent surge in the product innovations will further contribute towards the market size over the ensuing years. Additionally, attractive packaging forms by the manufacturers used for product packaging will steer the business trends. Apart from this, product fortification for improving the flavor of the biscuits will augment the scope of the market in the foreseeable future. Introduction of new product flavors account majorly towards the sales of the biscuits along with increasing the market profitability over the upcoming years. Product extension as well as adding new product to the existing product line will not only help the manufacturers increasing their revenues but will prop up the market size in the coming years. Thriving retail and eCommerce sectors along with online shopping is anticipated to create huge product penetration over the years ahead.

Furthermore, growing demand for convenient food products due to swift urbanization and hectic & busy lifestyle will culminate into huge market demand over the next couple of years. Nonetheless, product recalls due to adulteration can create heckles in the path of the market growth during the forecast period.

Asia Pacific To Occupy Leading Position In Market Over 2017-2024

The growth of the market in the sub-continent over the assessment period is attributed to the presence of giant manufacturers in the countries like India, Japan, and China. In addition to this, surge in the promotional activities through TV and internet as well as social media will prompt the regional market growth over the ensuing years. Apparently, massive consumption of healthy snacks, surge in the working women population, and launching of new flavors as well as packed products with different sizes & volumes will provide impetus to the growth of the business in the region over the estimated time-interval.

Key players influencing the market growth are National Biscuit Industries LTD SAOG, Mondelez International, Inc., Lotus Bakeries NV, ITC Limited, Nestle SA, Britannia Industries Limited, Kraft Foods Group, Inc., Campbell Soup Company, Dali Food Group Co, Ltd., The Kellogg Company, and Burton's Biscuit Company. With the market being highly fragmented, manufacturers are trying to retain their competitive edge in the market through execution of various positioning & pricing strategies and creating value for their products. Apart from this, players are trying to increase their distribution channels across the globe and reinforce value chain to inflate product sales as well as product penetration across the untapped markets. 

This report segments the global biscuit market as follows:

Global Biscuit Market: Product Type Segment Analysis

• Sweet Biscuits 
• Savory
• Crackers
• Filled/Coated
• Wafers

Global Biscuit Market: Source Type Segment Analysis

• Wheat
• Oats
• Millets
• Others

Global Biscuit Market: Flavor Type Segment Analysis

• Plain
• Chocolate
• Sour Cream
• Cheese and Spiced
• Fruits and Nuts
• Other

Global Biscuit Market: Distribution Channel Segment Analysis

• Supermarket & Hypermarket
• Convenience Stores
• Online Stores
• Specialty Store

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa