Biscuits refer to baked goods that are made with flour, shortening, baking powder, or soda, and other ingredients.
The main types of biscuits are crackers, savoury biscuits, and sweet biscuits. Crackers and savoury biscuits refer to crackers that come in a variety of shapes, sizes, colors, and flavors, but they are typically three inches or less in diameter, contain one to five percent moisture, and are made from grain flours. These are prepared from various sources including wheat, oats, and millet, by adding different flavours such as plain, chocolate, sour cream, cheese, spiced, fruits, and nuts, and distributed by supermarkets, hypermarkets, specialist retailers, convenience stores, online retail, and other distribution channels.
The biscuits market research report is one of a series of new reports from The Business Research Company that provides biscuits market statistics, including biscuits industry global market size, regional shares, competitors with a biscuits market share, detailed biscuits market segments, market trends and opportunities, and any further data you may need to thrive in the biscuits industry. This biscuit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The global biscuits market size is expected to grow from $113.63 billion in 2022 to $121.18 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biscuits market size is expected to grow to $156.25 billion in 2027 at a CAGR of 6.6%.
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.
Product innovations are a key trend gaining popularity in the biscuits market. Major market players, such as Club Crisps and Town House Dipping Thins, are developing products with enhanced taste and textures to sustain their position in the biscuit market. For instance, in July 2021, ITC Limited, an Indian food factory operating in the biscuits market, launched the Sunfeast All-Rounder, a potato biscuit that is masala sprinkled, crunchy, and one of the thinnest biscuits, while the potato in the base creates a unique texture for the biscuit. The masala sprinkled on top offers consumers an intense aroma and taste that lingers long after every bite.
In March 2021, Mondelez, a US-based company engaged in confectionery, food, and beverage, acquired Australian Gourmet Food for an undisclosed amount. The acquisition of Gourmet Food Holdings Pty Ltd. allows Mondelez to enter the fast-growing premium and well-being cracker segments, as well as provide an appealing platform to drive the company's broader biscuit portfolio in Australia and New Zealand. Australian Gourmet Food is a US-based company engaged in premium entertaining products and on-trend health foods.
Major players in the biscuits market are Mondelez International Inc., Kellogg Company, ITC Limited, Britannia Industries, Walkers Shortbread Ltd., Parle Products Pvt. Ltd., Burton's Biscuit Company, Yildiz Holding Inc., Bahlsen GmbH & Co. KG, Campbell Soup Company, Nestle SA, Kraft Foods Group Inc., Lotus Bakeries NV, Dali Food Group Co Ltd., The Hershey Company, Kambly SA, United Biscuits Company, Ulker Biskuvi Sanayi A.S, Cornu AG, Kambly SA, PepsiCo, Annie's Homegrown Inc., Nestle SA, Danone Group, Jiashili Group, Mars, McVitie’s, Thomas Tunnock Limited, Uni-President, United Biscuits, and Want Group.
Europe was the largest region in the biscuits market in 2022. South America is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the Biscuits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The biscuits market consists of sales of cream crackers, flavored crackers, and sandwich biscuits. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The global biscuits market is segmented -
1) By Type: Crackers And Savory Biscuits; Sweet Biscuits
2) By Source: Wheat, Oats, and 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