IndustryARC updated the market research study on “Biscuits Market”- Forecast (2024 - 2030)

The Biscuits Market size is estimated to reach $163.9 billion by 2030 with an estimated CAGR of 4.9% during the forecast period 2024-2030. Biscuits are made of flour, sugar or salt, butter or vegetable shortening, and baking powder as a leavening agent. They are baked food item that is flour-based and used as a snack. These food products are available in different flavours, types, tastes, and textures. Biscuits are generally sweet in taste made from sugar or honey and some of their types are savoury or salty in taste. Biscuits are one of the most famous and preferred packaged snacks around the globe. They can be mixed along with a variety of ingredients, which include, nuts, chocolate flavour, Choco chips, sandwich fillings, which include cream-based fillings of fruit, chocolate, and jam fillings.

Consumers are seeking biscuits made with natural ingredients, whole grains, and reduced sugar and fat content. Brands are responding by introducing healthier variants such as whole wheat, gluten-free, and organic biscuits to cater to health-conscious consumers. Additionally, there's a growing emphasis on fortifying biscuits with vitamins, minerals, and functional ingredients like fiber and protein to enhance nutritional value. Premiumization is reshaping the biscuits landscape, with consumers willing to pay more for high-quality, artisanal biscuits with unique flavors, textures, and ingredients. Artisanal and gourmet biscuits featuring exotic ingredients, handcrafted techniques, and artisanal packaging are gaining traction among discerning consumers seeking indulgent and exclusive snacking experiences. Brands are leveraging premiumization to differentiate their offerings and tap into the growing demand for luxury biscuits.

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Biscuits Market Report Coverage

The report: “Biscuits Market Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Biscuits Market.

By Type: Crackers and Savory, Sweet Biscuits

By Packaging: Pouches/Packets, Jars, Boxes and Others

By Distribution Channel: Convenience Stores, Independent Bakery, Online Retail, Supermarket/ Hypermarket and Others

By Geography: North America, Asia Pacific, Europe, and Rest of the World.

Key Takeaways

Geographically, Asia Pacific holds the largest share in the global Biscuits market in 2023, owing to the increasing consumer demand in the region. Changing consumer lifestyles and preferences play a significant role in the industry's growth. As consumers seek convenient and portable snack options to fit busy schedules, biscuits emerge as a popular choice due to their shelf-stability and on-the-go convenience.

Increasing disposable income of consumers and changing living standards of the middle-class population across the globe is set to boost the global biscuits market growth positively.

Competition is very high in the market with virtually no entry barriers and almost 100% penetration of the product, which is set to increase the demand of the market for the forecast period 2024-2030.

Drivers – Biscuits Market

The Rising Demand for Healthy Cookie

The escalating demand for healthy cookies within the biscuits industry is propelled by several key drivers, reflecting evolving consumer preferences and lifestyle trends. The heightened health consciousness among consumers is a significant driver. As individuals become more health-aware, they seek healthier alternatives to traditional biscuits that are often perceived as high in sugar, fat, and calories. Healthy cookies, formulated with nutritious ingredients such as whole grains, nuts, seeds, and natural sweeteners, offer consumers a guilt-free snacking option. The changing dietary habits and wellness trends contribute to the rising demand. Consumers are increasingly adopting balanced diets and embracing wellness-focused lifestyles, leading them to opt for snacks that align with their health goals. Healthy cookies, featuring reduced sugar content, gluten-free options, and clean-label formulations, cater to these evolving dietary preferences. Demand for biscuits witnessed to have a rising trend owing to the product innovations involved in the sector and the use of high-quality ingredients. Biscuits, which are available in forms like multiple grains, Ragi, Oats, and others, are grabbing the attention of the millennials who tend to stay fit with ready to-go food. In addition, bakery manufacturers attract customers with innovative packaging solutions, which is set to drive growth.

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Increasing Demand for “Ready to Go” Food

The burgeoning demand for "ready to go" food in the biscuits industry is driven by several key factors that reflect evolving consumer lifestyles and preferences. Firstly, the fast-paced nature of modern life has led to a rise in demand for convenient and portable food options that can accommodate busy schedules and on-the-go consumption habits. Ready-to-go biscuits offer consumers a convenient snack solution that requires minimal preparation and can be easily consumed anytime, anywhere, catering to the needs of individuals with hectic lifestyles and limited time for meal preparation.

Additionally, changing demographics, including an increase in urbanization and a rise in the number of working professionals, have contributed to the growing demand for ready-to-go food options in the biscuits industry. Urban dwellers and office workers often seek quick and convenient snack choices that can be consumed during commutes, breaks, or while multitasking, driving the popularity of ready-to-go biscuits as a convenient and portable snacking solution.

Challenges – Biscuits Market

The High cost of raw materials

The biscuits industry faces significant challenges stemming from the high cost of raw materials, impacting various aspects of production, pricing, and profitability. The primary challenge is the volatility of commodity prices, particularly for key ingredients like wheat, sugar, and dairy products. Fluctuations in global supply and demand, weather conditions, and geopolitical factors contribute to price instability, making it challenging for biscuit manufacturers to predict and manage raw material costs effectively. Moreover, the dependence on imported raw materials exposes companies to currency fluctuations and trade tariffs, further exacerbating cost pressures and supply chain risks are the factors that tend to be a challenge for the biscuit market.

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Biscuits Industry outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Biscuits Market. Key companies of this market are Nestlé UK Ltd., Parle Products Pvt. Ltd, Kellogg Company, Britannia Industries Ltd., Burton's Foods Ltd, Lotus Bakeries NV, McVities, United Biscuits, Cadbury, PepsiCo/Walkers Shortbread Ltd etc.

Acquisitions/Product Launches:

In November 2023, Barilla, Milma launched premium dark chocolate and butter biscuits, targeting health-conscious consumers, marking its foray into the dark chocolate segment and expanding its product portfolio to meet evolving consumer preferences.

In May 2023, ITC Foods introduced millet cookies under Sunfeast Farmlite, aligning with the growing recognition of millets as climate-smart, superfoods. Through its 'ITC Mission Millet' initiative, ITC aims to develop a nutritious product range, promote sustainable farming practices, and raise consumer awareness about the benefits of millets.