The global biscuits market is expected to gain consistent growth during the forecast period. The worldwide dynamics for biscuit market share seem to get influenced by product innovation in form of new flavors, shapes, taste and attractive packaging. Market players are keen on creating effective marketing and pricing strategies on the sale of biscuits. With rise in consumer awareness about ingredients and health benefits, manufacturers seem to maintain transparency in labeling. Low sugar and low-calorie content is motivating the biscuit manufacturers to develop nutritious and low sugar biscuits.
Biscuits comprise nutritional factors such as carbohydrates, fats, and fibers which are essential to human health. The nutritional value of biscuits makes them a highly preferred breakfast meal worldwide. Characteristically, biscuits being easy to carry, store, can be consumed as per choice. Every person of each age group can enjoy biscuits as the convenient food product. Biscuits can be consumed along with beverages like tea and coffee or as it is. Therefore, premium quality biscuits contain a rich taste and flavor and are heavily consumed.
Market drivers boosting the growth of global biscuits market share are rapid urbanization, growth in disposable income, and leading sedentary lifestyles. The market witnesses the penetration of supermarkets and malls which has led to an overall visibility of various biscuits with different tastes and shapes. Television ads additionally have become the promotional strategies as a part of marketing. Marketing techniques and strategies are also helping in the market growth. Hence, biscuit manufacturers are constantly trying novel ideas and combinations encouraging consumer’s interest. However, heavy competition and high costs of raw materials are likely to hinder the market growth.
Based on ingredients, the global biscuits market includes flour, sugar, butter, chocolate, milk and cream.
Based on product, the global biscuits market includes rich tea, bourbon, plain biscuits, chocolate coated biscuits and filled biscuits.
On the basis of geographic segmentation, the global biscuits market is classified into North America, Europe, Asia-Pacific, Middle East and Africa. North America leads the global market whereas APAC regions are estimated to be the emerging regions for the forecast period.
The key players in the market are Nestlé UK Ltd. Parle Products Pvt. Ltd, Kellogg Company, Britannia Industries Ltd., Burton's Foods Ltd, Lotus Bakeries NV,ITC, United Biscuits, Cadbury, Walkers Shortbread Ltd etc.
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