The Global Biscuit Industry Market Size Growth and Future Trends
Introduction
The global biscuit industry has been experiencing significant growth in recent years, driven by changing consumer preferences, increasing disposable income, and the growing trend of snacking on-the-go. Biscuits are a popular snack choice due to their convenience, affordability, and wide variety of flavors and textures.
Market Size and Growth
The global biscuit market was valued at $76.6 billion in 2020 and is projected to reach $105.2 billion by 2025, growing at a CAGR of 6.5% during the forecast period. The Asia-Pacific region is the largest market for biscuits, accounting for over 40% of the global market share, followed by Europe and North America.
The growth of the biscuit industry can be attributed to several factors, including the increasing demand for healthy and nutritious snacks, the rise of e-commerce and online grocery shopping, and the introduction of innovative flavors and packaging formats. Biscuit manufacturers are also focusing on product diversification and expanding their distribution channels to reach a wider consumer base.
Key Players in the Industry
Some of the key players in the global biscuit industry include Mondelez International, Britannia Industries, Parle Products, Kellogg Company, and Nestle. These companies have a strong presence in both developed and emerging markets and are continuously launching new products to meet the evolving consumer preferences.
Mondelez International, for example, reported net revenue of $26.6 billion in 2020, with its biscuit segment contributing significantly to its overall sales. The company’s popular biscuit brands include Oreo, Ritz, and Chips Ahoy, which are widely recognized and consumed globally.
Britannia Industries, a leading biscuit manufacturer in India, reported a revenue of $1.3 billion in 2020 and has been focusing on expanding its product portfolio with healthier options and premium offerings. The company’s Good Day and Marie Gold biscuits are among the top-selling brands in the country.
Future Trends in the Biscuit Industry
Looking ahead, the biscuit industry is expected to witness several key trends that will shape its growth trajectory. One of the emerging trends is the increasing demand for gluten-free and organic biscuits, driven by consumers’ growing awareness of health and wellness.
Another trend is the rise of plant-based and vegan biscuits, as more consumers are adopting plant-based diets for ethical, environmental, and health reasons. Biscuit manufacturers are innovating with ingredients such as almond flour, coconut oil, and chia seeds to cater to this growing segment of the market.
Furthermore, the digitalization of the biscuit industry is expected to accelerate, with companies investing in e-commerce platforms, social media marketing, and data analytics to understand consumer preferences and behavior. Personalization and customization of products will also become more prevalent, as consumers seek unique and tailored snack options.
In conclusion, the global biscuit industry is poised for continued growth and innovation, driven by changing consumer preferences, technological advancements, and shifting market dynamics. As key players continue to innovate and expand their product offerings, the industry is expected to thrive and evolve in the coming years.
