The worldwide biscuits market had a valuation of USD 94.5 Billion in 2022. It is projected to attain USD 138 Billion by 2032, displaying a compound annual growth rate (CAGR) of 4.8% throughout the forecast period. Significant drivers of this market growth include a growing global population, heightened demand for convenient food options, and evolving consumer lifestyles on a global scale.
Manufacturers are consistently innovating and introducing novel biscuit variations due to the increasing popularity of biscuits as a more health-conscious substitute for traditional snack choices. Additionally, the escalating consumer desire for biscuits that are sugar-free, organic, and gluten-free is propelling the market's revenue expansion.
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Competitive Landscape:
· Mondelez International, Inc.
· Nestle S.A.
· Kellogg Company
· Parle Products Pvt. Ltd.
· ITC Limited
· Britannia Industries Limited
· United Biscuits (UK) Limited
· Yildiz Holding A.S.
· Campbell Soup Company
· De Beukelaer Holding N.V.
Biscuits Market Growth
· Changing Consumer Preferences: Consumer preferences for convenient and ready-to-eat snacks have been driving the growth of the biscuits market. Biscuits are considered a convenient and portable snack option, making them popular among busy consumers.
· Globalization and Urbanization: As urbanization continues to rise worldwide, there is an increased demand for on-the-go and packaged food items, including biscuits. Urban lifestyles often lead to less time for preparing meals from scratch, boosting the demand for easily accessible snacks.
· Product Innovation: Biscuit manufacturers are continually innovating to introduce new flavors, shapes, and healthier ingredients to cater to changing consumer demands. Healthier and organic biscuit options have gained popularity among health-conscious consumers.
· E-commerce and Online Retail: The growth of e-commerce and online retail has made it easier for consumers to access a wide variety of biscuit brands and flavors from around the world, further boosting market growth.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
The global Biscuits market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Plain Biscuits
- Cookies
- Sandwich Biscuits
- Crackers
- Others
Distribution Channel Outlook:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Stores
- Others
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