ALBANY, New York, November 23, 2017 /PRNewswire/ —
Transparency Market Research states that the competition in the global biscuits market is highly fragmented due to a significant number of international and local players. 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. Tough to cutthroat competition, several players are emphasizing on commercializing unique flavors wrapped in unique packaging. Furthermore, the biscuit manufacturers are also trying to tap into the new and emerging wave of health foods by using healthy raw materials to manufacture tasty biscuits.
According to the research report, the global biscuits market is estimated to reach a valuation of US$76,384.9 mn by the end of 2017 and US$109,959.9 mn by the end of 2025. During the forecast years of 2017 and 2025, the global market is expected to register a CAGR of 4.7%. Of all the products, the sweet biscuits are expected to lead the global market due to growing number of consumers for the same. 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.
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Convenience of Consuming Biscuits as Quick Meals Continues to be Market‘s Key Driver
Biscuits are one of the most important snacks used in an average household. They are a variety of breads popular for breakfast and other meals. A lot of different type of biscuits are being manufactured by the various large scale companies with plants, where they are packaged and supplied within a short time span. However, even to this day a large scale production some special type of biscuits are produced by small scale bakers. The biscuits are made from various combination of raw materials such as flours, shortening, leavening, and water or milk. The type of biscuits included in the report are sweet biscuits, savory, crackers, filled/coated, wafers, and others.
Increasing consumer demand for natural and GMO free products is increasing the biscuits market. Due to rising health awareness and food safety concerns more and more consumers are shifting towards natural foods. Furthermore, increasing convenience in foods i.e. due to consumer’s busy lifestyle new methods of purchasing products are gaining popularity such as virtual supermarket and mobile phone shopping. Consumer can purchase groceries directly from their cell phones at any place during the day. Increasing mordent retail formats like supermarket/hypermarkets in developing countries is rising the biscuits market. Increasing online retailing is also the major driver for biscuit manufacturer to enhance customer base. Moreover, increasing consumer demand for diverse variety of biscuits including superior taste, nutritious, and concern for safety of food is driving the biscuits market. Also, people in developing countries prefer nutritious biscuits with tea in breakfast.
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Growing Labor Costs becomes a Tough Challenge for Global Biscuits Market
Some of the restraints that are potentially restricting the growth of the biscuits market are shortage of skilled staff and high manpower cost are some of the key roadblocks that have plagued the industry’s development over the years. Increase in labor cost is a major barrier for biscuit manufacturer. Furthermore, another prospective restraint of biscuits market is growing old age population is a challenge for biscuit manufacturer due to growing birth rate and low death rate, manufacturers has to provide food to all ages. This has created challenge for manufacturers to produce product according to older generation.
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”.
- Sweet Biscuits
- Convenience Store
- Specialty Store
- Online Retail
- Sour Cream, Cheese, and Spiced
- Fruits and Nuts
- North America
- Latin America
- Middle East and Africa
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SOURCE Transparency Market Research