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Global biscuits market expected to reach US$76 billion by end 2017


Global biscuits market expected to reach US$76 billion by end 2017
The emerging biscuits market trend towards healthier biscuit options, as well as convenience are also expected to be key market drivers.
  November 27, 2017        By Pearly Neo
biscuits market trends market value research

Competition in the global market is highly fragmented due to a significant number of international and local players, according to the latest research from Transparency Market Research. Some of the leading players making their mark in the biscuits market are The Kellogg Company, ITC Limited, Nestle SA, Kraft Foods Group, Inc., and Campbell Soup Company. Several players are emphasising on the commercialisation of unique flavours and unique packaging. Furthermore, manufacturers are also trying to tap into the new and emerging wave of health foods by using healthy raw materials to manufacture tasty biscuits.
 
The global biscuits market is estimated to reach a valuation of US$76.38bn by the end of 2017 and US$110bn by the end of 2025. During the forecast years from 2017 to 2025, the global market is expected to register a CAGR of 4.7%.
 
Sweet biscuits are expected to lead the global market due to a growing number of consumers. This product segment is slated to exhibit a CAGR of 4.7% over the forecast period. Geographically, Asia Pacific is projected to show a higher expansion rate than the others due to an ever-growing consumer base. This regional market is expected to rise at a CAGR of 4.9% between 2017 and 2025.
 
Convenience of consuming biscuits as quick meals continues to be key driver
There is increasing consumer demand for natural and GMO-free products in the biscuits market. Due to rising health awareness and food safety concerns, more and more consumers are shifting towards natural foods. Furthermore, increasing convenience is becoming a necessity for busy lifestyles, which means that new methods of purchasing products are gaining popularity, such as virtual supermarkets and mobile shopping. Consumers can purchase groceries directly from their cell phones any time, anywhere.
 
This increasing online retailing is also a major driver for biscuit manufacturers to enhance customer bases, as biscuits are commodities that are easily maintained and suitable for e-commerce. Moreover, increasing consumer demand for a diverse variety of biscuits as well as superior taste, high nutrition value, and concern for food safety also drives the market.
 
Growing labour costs a tough challenge for global biscuits market
A shortage of skilled staff and high manpower costs are some of the key roadblocks that have plagued the biscuit industry’s development over the years. Another prospective restraint of the biscuits market is the growing elderly population – this is a challenge for manufacturers, as with a growing birth rate and low death rate, manufacturers have to provide products that are suitable for all ages.
 
This review is based on Transparency Market Research’s report, titled “Biscuits Market (Product – Sweet Biscuits, Savory, Crackers, Filled/Coated, and Wafers; Source – Wheat, Oats, and Millets; Packaging – Pouches/Packets, Jars, Boxes, and Peelpaq; Distribution Channel – Supermarket/Hypermarket, Convenience Store, specialty Store, and Online Retail; Flavor Type – Plain, Chocolate, Sour Cream, Cheese, and Spiced, and Fruits and Nuts) Global Industry Analysis and Opportunity Assessment, 2017 – 2025

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