The Biscuits Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biscuits Global Market Report 2024, The biscuits market size has grown strongly in recent years. It will grow from $121.07 billion in 2023 to $129.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to changing consumer lifestyles, health and wellness trends, rise of online shopping, trade policies, crisis events.
The biscuits market size is expected to see strong growth in the next few years. It will grow to $169.07 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to personalization trends, global flavor fusion, growth in plant-based diets, diverse dietary preferences, government regulations. Major trends in the forecast period include artisanal and craft biscuits, subscription models, interactive packaging, culinary collaborations, blockchain traceability.
Rapid urbanization is expected to propel the growth of the biscuits market going forward. Urbanization refers to the population shift into relatively small areas, forming cities. This concentration results in land being transformed for residential, commercial, industrial, and transportation purposes. Globally, urbanization is changing food systems and helping to transform them by shaping spatial patterns of food demand and influencing consumer preferences. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based international non-governmental and lobbying organization, the proportion of the global population living in cities is expected to reach 80% by 2050. More than 4.3 billion people, or 55% of the world's population, now live in cities, with that figure expected to rise to 80% by 2050. Therefore, rapid urbanization is driving the growth of the biscuits market.
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The biscuits market covered in this report is segmented –
1) By Type: Crackers And Savory Biscuits, Sweet Biscuits
2) By Source: Wheat, Oats, Millets
3) By Flavor Type: Plain, Chocolate, Sour Cream, Cheese, Spiced, Fruits And Nuts
4) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, Other Distribution Channels
Major companies operating in the biscuits market are focusing on strategic collaboration, to provide reliable services to customers. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities who work together to achieve shared goals aligned with their individual strategic objectives. For instance, in February 2023, Reliance Consumer Products Limited, an Indian-based provider of fast-moving consumer goods, partnered with Maliban Biscuit Manufactories, a Sri Lanka-based provider of bakery products. This strategic partnership aimed to bring Maliban's popular range of biscuits, crackers, cookies, and wafers to Indian consumers.
The biscuits market report table of contents includes:
1. Executive Summary
2.Biscuits Market Characteristics
3.Biscuits Market Trends And Strategies
4.Biscuits Market analysis
5.Biscuits Market Size And Growth
6.Biscuits Segmentation
7.Biscuits Regional And Country Analysis
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27.Biscuits Competitive Landscape And Company Profiles
28.Biscuits Key Mergers And Acquisitions
29. Biscuits Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Universal Robina Corporation
- Nestlé S.A.
- Mars Incorporated
- Mondelez International Inc.
- Grupo Bimbo S.A.B. de C.V.
- Kellogg Company,
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