Report : Biscuits Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Type (Sweet, Savory, Crackers, Filled, Wafers, and Others); Packaging (Pouches/Packets, Boxes, and Jars); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
Innovation and product premiumization projected to escalate biscuits market growth at CAGR of 4.2% during 2019–2027
According to our latest market study on “Global Biscuits Market to 2027 – Covid-19 Impact and Analysis and Forecast by Type (Sweet, Savory, Crackers, Filled, Wafers, and Others); Packaging (Pouches/Packets, Boxes, and Jars); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others); and Geography,” The biscuit market was valued at US$ 76,886.00 million in 2018 and is projected to reach US$ 111,079.29 million by 2027; it is expected to grow at a CAGR of 4.2% from 2019 to 2027.
The report highlights key factors driving the market growth, and prominent players and their developments in the market.
Biscuit is small bread made from a mixture of flour, sugar or salt, butter or vegetable shortening, and baking powder as a leavening agent. There are a variety of biscuits available in the market, such as sweet, savory, digestive, and filled biscuits. The global biscuits market, by packaging, has been segmented into pouches/packets, boxes, and jars. In 2018, the pouches/packets segment dominated the global biscuits market. Biscuit packaging is mainly done to present the product in an attractive way; display the biscuit type, ingredients, and weight; retain the freshness and flavor for longer shelf life; protect products from external harm; etc. Packing biscuits in pouches or packets adds aesthetic attributes that appeal to the customers or helps in easy recognition. The plastic pouches or packets were introduced for the first time in 1958 in the snack market; they were composed of laminated plastic layers and aluminum to prevent air and light from entering as well as to increase the shelf life.
The rising trend of using premium biscuits as a gifting alternative for various occasions, such as Valentine’s Day and Easter is fueling the sales of the several luxury and premium biscuits. Brands including Sunfeast and Britannia are known to offer such biscuit products internationally. Godiva, s subsidiary of Yildiz Holding Turkey, provides premium biscuits with fillings, such as milk chocolate, dark chocolate, caramel, and coffee; these biscuits are offered with luxury packaging that mainly attracts higher income groups. Moreover, to address a rising demand for innovative flavors, various companies are offering innovative biscuit products with new flavors. For instance, in 2018, Tim Tam, which is a leading Australian biscuit brand, collaborated with a premium innovator, Gelato Messina, to revolutionize a range of gelato-inspired flavored biscuits in New Zealand and Australia. The biscuits are offered in three new innovative flavors—Turkish delight, iced coffee, and Choc Cherry Coconut - and are best served chilled, to apprehend the true flavor of the gelato-inspired fillings. These biscuits come in heat-sensitive packets, which change their color when they are chilled. The introduction of such innovative range of biscuits is likely to fuel the biscuit market growth in the coming years.
The COVID 19 outbreak has been affecting economies and industries in various countries such as China, Italy, Iran, Spain, republic of Korea, France and many others. The global food and beverage industry is amongst the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. as a result of this outbreak. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, and sales of various food and beverage. All these factors are anticipated to affect the food and beverage industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months
The global biscuits market is concentrated with a few well-established players biscuits such as Britannia Industries, Burton’s Biscuit Company, ITC limited, Kellogg Company, Lotus Bakeries, Mondelez International, United Biscuits (UK) Limited, Parle Products Pvt. Ltd, Walkers Shortbread Ltd and Nestlé S.A.
Biscuits Market, By Type
Biscuits Market, By Packaging
Biscuits Market, By Distribution Channel