Biscuits Market - Global Industry Analysis and Opportunity Assessment 2017 - 2025
Albany, NY -- (SBWIRE) -- 06/13/2018 -- Biscuits make for an appetizing snack, as they can be carried around easily and are much healthier than other forms of quick munch-able refreshments. Moreover, food innovators have invented diverse types of biscuits that can satisfy the taste buds of different individuals. Even for people who maintain a controlled diet, there are now biscuits available that are low on calories as they are made from natural sweeteners rather than refined sugar. Owing to the strong prevalence of diabetes and obesity, biscuits that aid to the digestive system as well as control sugar levels are gaining demand. All these factors put together, the manufacturers of biscuits are poised to make consistent profits in the near future.
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According to a recent business intelligence study complied at Transparency Market Research, the demand in the global biscuits market will expand at a stable CAGR of 4.7% during the forecast period of 2017 to 2025. Revenue-wise, the report has estimated the opportunities in the biscuits market to represent a valuation of US$109,959.9 million. The analyst of the report has summarized his findings in following pointers:
Restless lifestyle and increased disposable income driving demand: Urban populations are expanding furiously as emerging economies in Asia Pacific are prospering. These mid-level income families observe a fast paced life and their eating habits are shifting towards casual and frequent snacks rather than properly timed homely meals. Among a number of snacks that are now being consumed increasing, biscuits hold a major share as they are healthier and fulfilling. On the other hand,
Among source segments, wheat garners greatest demand: While biscuits made from oats and millets also have their own flavor and benefits, those sourced from wheat continue to formulate the most prominent chunk of demand. The TMR study has evaluated that the wheat sourced biscuits produced 48.4% of the total demand for biscuits across the globe, and has projected the segment to remain prominent in the near future too.
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Asia Pacific emerging as a region of great potential: Vast population and availability of affordable labor makes the emerging economies of China and India lucrative both in terms of consumption and production.
Brand name and product innovation key to greater shares: The market shares in the global biscuits market is fairly consolidated within a handful of major players, who have established themselves well over the years. Major biscuit manufacturing companies, such as Nestle SA, Britannia Industries Limited, The Hershey Company, ITC Limited, Kraft Foods Group, Inc., The Kellogg Company, Kambly SA, United Biscuits Company, and Parle Products Private Limited have an impressive product portfolio as well as strong geographical outreach. Most of these players resort to aggressive marketing strategies to cultivate a brand name. Maintaining a strong supply chain and adopting innovative packaging methods is also essential for the players to reach larger masses.
Overall, the stockholders connected to the value chain of the biscuits market, including the raw material suppliers, are foreseen to make profits, provided they move along with the latest trends.