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Report
Sweet Biscuit Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
The sweet biscuit market is projected to register a CAGR of 5.35% over the next five years.
For the longest time, biscuits have been used as snacks during different activities in daily life. Due to increased urbanization, industrialization, and lifestyle change, the snacking trend is visible in many countries. Therefore, the biscuit market is growing in urban areas. Also, the growing convenient snacking preference, coupled with easier consumer accessibility through the advancing retail sector, is one of the few factors augmenting the sweet biscuit market growth globally.
Additionally, market players have been innovating products according to consumer needs. For instance, Kids prefer biscuits with chocolate or other fruity flavors. Therefore, market players are making biscuits with different flavors, unique shapes, and attractive packaging materials. The consumer's preference for free-from and functional products is rising owing to health-related issues like diabetes, obesity, and celiac disease. Furthermore, product innovations like filled biscuits and sandwiches are driving the market growth. For instance, in December 2021, Sunfeast, an ITC limited center-filled Dark Fantasy Desserts. The products are available in two flavors, i.e., Choco Chunks and Choco Nut Dipped.
Sweet Biscuit Market Trends
Growing Preference for Healthy Biscuits
The consumers growing consciousness about their health is driving the market players to produce high-quality, nutrient-rich products. The consumer trend of gluten-free and vegan food is driving the market players to innovate products according to consumer needs. Rising awareness about health and fitness and a growing healthy snack product preference, especially among working professionals and millennials, is driving sales. Healthy biscuit demand is increasing due to the active consumer lifestyle who look for convenient eating options. Because of rising lifestyle-related disorders such as obesity and rising awareness about well-being, consumers' need for tasty indulgence shifted their preference toward healthy biscuits as a nutritious alternative. Manufacturers are actively indulging in healthy biscuits production in different flavors to enhance their taste. In May 2022, Arnott's, a Campbell Soup Company brand, launched new gluten-free versions of biscuits. The biscuits are available in three flavors, i.e., Mint Slice, Shortbread Cream, and TeeVee Snacks Original.
Asia-Pacific is the Fastest-growing Market
Sweet biscuits remain one of the most preferred types of snacks and are consumed regularly by people of all age groups in the Asia-Pacific region. To cater to the rising demand for premium sweet biscuits in the country, manufacturers are targeting various groups of consumers and launching products specific to their needs. Moreover, consumers are increasingly aware of the importance of consuming balanced and healthy diets, with increasing demand for protein intake to boost energy and solve undernutrition problems, especially among children. The manufacturers are updating their portfolios with the launch of new products with additional nutrients and different flavors. For instance, in December 2021, Britannia Industries limited launched and relaunched its biscuit brand Good Day with the addition of three new varieties. The biscuits contain four types of nuts and are bigger biscuit size.
Sweet Biscuit Market Competitor Analysis
The sweet biscuit market is highly competitive, with the significant presence of numerous local and regional players. Mondelez International Inc., Britannia Industries Ltd, ITC Limited, Groupo Bimbo, Parle Products Ltd, Yildiz Holdongs Inc., and Kellogg's Company are the most active companies in the sweet biscuit market. The companies are increasing their product lines and expanding their presence worldwide. Key players in the sweet biscuit market adopt new product innovations, expansions, mergers, acquisitions, and partnerships to position their products.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Chocolate-coated Biscuits
5.1.2 Cookies
5.1.3 Filled Biscuits
5.1.4 Plain Biscuits
5.1.5 Sandwich Biscuits
5.1.6 Other Sweet Biscuits
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialist Retailers
5.2.3 Convenience Stores
5.2.4 Online Stores
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Australia
5.3.3.4 Japan
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share of Players
6.3 Company Profiles
6.3.1 Mondelez International Inc. (belVita)
6.3.2 Burton's Biscuit Company
6.3.3 ITC Limited (Sunfeast, Dark Fantasy)
6.3.4 Parle Products Private Limited
6.3.5 The Kellogg's Company
6.3.6 Britannia Industries Limited
6.3.7 Yildiz Holding AS
6.3.8 Grupo Bimbo
6.3.9 Bahlsen GmbH & Co. KG
6.3.10 Simple Mills
6.3.11 Lotus Biscoff
6.3.12 Ferrero Foundation
6.3.13 The Campbell Soup Company (Arnott's)
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