Global Biscuit Market Is Expected to Reach USD 154.86 billion by 2028 : Fior Markets

Biscuit Market by Type (Sweet, Crackers &Savory Biscuits), Distribution channel (Online Retailers, Independent Bakery, Convenience Stores, Supermarket/Hypermarket and Others), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

Newark, NJ, May 27, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global biscuit market is expected to grow from USD 105.7 billion in 2020 and to reach USD 154.86 billion by 2028, growing at a CAGR of 4.89% during the forecast period 2021-2028.

The biscuit market has witnessed significant growth in the past years. This growth is attributed to the increasing awareness and shifting of consumer preference and interests towards biscuit products that are free from preservatives, fat-free, free from genetically modified organisms, low in calories, free hormones and organic in nature. The customers prefer healthy snacks; hence the increased research and development in the market by the key players also boosted the market. Increasing fast-food chain, urbanization and increased disposable income in developing countries is further boosting the growth of the market.

Biscuits are a variety of bread-type snacks famous in different forms throughout the world. Biscuits are made up of sugar, flour, salt, vegetable shortening or butter and baking powder as a leavening agent. The dough made from these ingredients is cut into small rounds, rolled out, baked and served hot. They are flour-based, baked food items used as snacks. These food items are available in different tastes, types, textures and flavors. Biscuits are the preferred and one of the most famous packaged snacks around the globe. Biscuits are commonly sweet in taste made from honey or sugar; and the other types are salty or savory in taste.

The factors that are driving the market are brisk urbanization, increased consumer expenditure on fast food, increasing disposable income, huge investments in research and development to produce innovative products and healthy product option, use of high-quality ingredients, product innovations, packaging, and their availability in different forms of flours like multigrain, oats, ragi, wheat and others. The factors that are restraining the market are the high cost of raw materials.

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Key players operating in the global biscuit market include Kellogg Pty., Ltd., Britannia Industries Ltd., Yildiz Holding A.S., Parle Products Pvt., Ltd., Mondelez International, PepsiCo, Inc., ITC Ltd., Burton Biscuit Company, Nestle S.A., and Walkers Shortbread Ltd. To gain a striking market share in the global biscuit market, the key players are now focusing on adopting strategies such as mergers and acquisitions, joint venture, product innovation, product development, partnership and collaborations.

In March 2021, Gourmet Food Holding Pty Ltd, an Australian company, which offers crackers and premium biscuits, is acquired by Mondelez International to accelerate its leadership in Australia and New Zealand.

The sweet biscuit segment dominated the market and held the largest market share of 60% in the year 2020.

On the basis of type, the global biscuit market is segmented into sweet and crackers and savory biscuits. The sweet biscuit segment dominated the market and held the largest market share of 60% in the year 2020. The growth of this market is attributed to their easy availability, taste and energy content. Sweet biscuit has become a consumer's choice of preference due to its high nutrient content.

The supermarket/hypermarket segment dominated the market and held the largest market share of 32% in the year 2020.

On the basis of distribution channels, the global biscuit market is segmented into online retailers, convenience stores, independent bakeries and supermarket/hypermarkets. The supermarket/hypermarket segment dominated the market and held the largest market share of 32% in the year 2020. The growth of this market is attributed to the substantial merchandise mix of different brands of biscuits under one roof.

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Regional Segment of Ice Cream Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global ice cream market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America holds the largest share in the U.S. The growth of this market is attributed to the high popularity of savory confectionery products and baked snacks in this region. Europe is expected to witness significant growth, owing to the rising demand for convenient snacking. The Asia-Pacific is the fastest-growing region and holds the largest share in China, followed by India and Japan. The growth of this segment is attributed to changing consumer taste and preferences, effective manufacturing & trade policies, availability of numerous products and increasing demand for processed foods.

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About the report:

The global biscuit market is analyzed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insights into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors' position grid analysis.

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Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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Global Biscuit Market Is Expected to Reach USD 154.86 billion by 2028 : Fior Markets

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