Research Nester has published a report titled“Biscuits Market: Global Demand Analysis & Opportunity Outlook 2028”which delivers detailed overview of the biscuits market in terms of market segmentation by product type, source, packaging, distribution channel, flavor and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Biscuits are of one of the most common snacks and are mainly preferred by consumers owing toits easy availability and shift of consumers towards bakery products. This food product is easy to consume and convenient to carry while travelling or working. Biscuits market is one of the fastest growing of all sectors in the fast-moving consumer goods category and is estimated to record a CAGR of around 6% over the forecast period, i.e., 2020-2028. Based on product type, the market is bifurcated into sweet biscuits, savory, crackers, filled or coated, wafers and others, out of which, the sweet biscuits segment is anticipated to hold the largest share in the biscuit marketas most of the people demand for this segment and is growing at robust CAGR and estimated to witness a significant market growth over the forecast period. In the flavorsegment, the plain biscuit segmented is anticipated hold the largest market share and will hold the largest market share over the forecast period.
Based on region, the biscuits market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, Middle East & Africa region. The market in Asia-Pacific, North America, Europe and Middle East region is anticipated to be the fastest growing market and is growing at a CAGR of 6% and is expected to continue over the forecast period (2020-28).
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Growing Preferences for Snacks Amongst Consumers
Consumers around the world are increasingly demanding for pre-cooked snacks that can be consumed directly without putting many efforts. The increase in demand can be attributed to the growing urbanization, increasing disposable income and the increasing awareness for snacks, such as biscuits through different advertisement mediums. Further, the increasing demand for healthy snacks is also raising the need amongst the manufacturers of biscuits to manufacture healthy biscuits. Such factors are anticipated to drive the growth of the global biscuit market
However, concern for the high cost of raw material as well as availability of biscuits that contain gluten and the presence of an unorganized market are some of the factors anticipated to limit the growth of the market.
This report also provides the existing competitive scenario of some of the key players of the biscuits market which includes company profiling of Nestlé S.A.( SWX: NESN) , Parle Products Pvt. Ltd, Kellogg Company(NYSE: K), Burton’s Biscuit Company, Lotus Bakeries Corporation(EBR: LOTB), ITC Limited(NSE: ITC), United Biscuits, Cadbury and Walkers Shortbread Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
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On the whole, the report depicts detailed overview of the biscuits market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.