Global Biscuits Market to Hit Highest Peak of Growth with Nearly US$ 121 Billion Earnings by 2028 - Zion Market Research
NEW YORK, Oct. 25, 2021 /PRNewswire/ -- As per the research findings stated in Zion Market Research Report, biscuit industry garnered revenue about US$ 83 billion in 2020 and is slated to earn revenue of approximately US$ 121 billion by 2028. The biscuit market is projected to register highest gains of approximately 4.5% during 2021-2028. In addition to this, humungous demand for convenience diet with nutritive constituents will translate into massive growth of biscuit market in upcoming years. Massive production of customer acceptable biscuits having bioactive ingredients along with huge consumer demand for healthy snacks & bakery products will prompt business trends. Growing focus of bakery product manufacturers on rheological features of product owing to its ability of imparting high quality to bakery items such as biscuits will open new growth avenues for biscuit industry over upcoming years.
Large-scale inclusion of dietary fibers such as psyllium fibers in biscuits will augment market landscape. Moreover, biscuits are ready-to-consume baked snacks and have gained prominence among bakery item consumers across globe. Wide intake of product, elongated shelf life, and good eating product quality has increased penetration of biscuits across both emerging economies and developed countries. Reportedly, massive use of pigeon pea, unripe cooking banana, and sweet potato as raw components for manufacturing biscuits possessing high energy contents, high proportion of proteins, and dietary contents will drive market size.
Moreover, frequent use of composite flour in production of biscuits for enhancing nutritive value of biscuits will prompt market demand in foreseeable future. Launching of new flavors will contribute noticeably towards product popularity across globe. Nonetheless, biscuits contain huge proportion of fats & sugars and contribute majorly towards health disorders, thereby posing a challenge to growth of biscuit market over estimated timeline.
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Growing Convenient Food Products & Bakery Items Demand to Drive Market Space
Expansion of biscuit market over forecast timeline is owing to escalating popularity of bakery products & convenient snacks due to flavor, taste, and longevity of these products. Apart from this, constant launches of product with new compositions and low fat, less calorie, organic, and gluten-free ingredients will prop up market profitability in the forthcoming years. Focus on attracting new customers through technological innovations and launching of new packaging designs will promulgate scope of biscuit industry in ensuing years. Strong product value propositions and implementation of effective supply chain management activities along with easy access to proficient distribution network & appropriate marketing or sales channels will prompt growth of biscuit market in near future.
Asia Pacific to Contribute Remarkably Towards Regional Market Profits By 2028
Growth of biscuit market over forecast timespan is due to rise in intake of gluten-free processed food items like biscuits, bread, and food crackers in countries such as China and India. Citing an instance, there is massive demand for gluten-free biscuits in India as the country has largest population suffering from celiac disease. Apparently, presence of strong retail network and availability of large workforce at reasonable wages due to population inflation will assist biscuit market explore new facades of growth in the sub-continent. In addition to this, a prominent surge in presence of supermarket and hypermarket stores (offering large shelf space to the product) in South East Asian countries as well as in India, Japan, South Korea, and China is predicted to contribute substantially towards regional market expansion in Asia Pacific within next few years.
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Key players leveraging growth of biscuit market and profiled in report include Nestle SA, Britannia Industries Limited, National Biscuit Industries LTD SAOG, The Kellogg Company, Kraft Foods Group, Inc., Dali Food Group Co, Ltd., Mondelez International, Inc., Lotus Bakeries NV, ITC Limited, Campbell Soup Company, and Burton's Biscuit Company.
This review is based on a report by Zion Market Research, titled, "Global Biscuit Market By Product (Sweet Biscuits, Savory, Crackers, Filled/Coated, And Wafers), By Source (Wheat, Oats, Millets, And Others), By Flavor Type (Plain, Chocolate, Sour Cream, Cheese And Spiced, Fruits & Nuts, And Others), and By Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Store, And Online Retail): Global Industry Perspective, Comprehensive Analysis And Forecast, 2021– 2028."
This report segments the global biscuit market as follows:
By Product Type
- Sweet Biscuits
- Savory
- Crackers
- Filled/Coated
- Wafers
By Source Type
- Wheat
- Oats
- Millets
- Others
By Flavor Type
- Plain
- Chocolate
- Sour Cream
- Cheese and Spiced
- Fruits and Nuts
- Other
By Distribution Channel
- Supermarket & Hypermarket
- Convenience Stores
- Online Stores
- Specialty Store
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By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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