The global biscuit market is forecast to grow at a rate of 5.90% between 2023 and 2030, when it could reach around USD 172.23 bn, according to research by Market Research Future (MRFR).
The research identifies diversity among the market drivers. “Businesses must differentiate their offerings in terms of ingredients, taste, structure, and presentation if they hope to succeed in today’s highly competitive market,” MRFR says.
Production restraints include biscuit dough cracking and splitting (checking), caused by uneven heat and water distribution. Differences in product weight are a major problem, due to biscuit expansion, which has a detrimental effect on the number of biscuits per package. Biscuits and bakery marketing head Vanessa Martins Mendes says that despite the need for new developments in the industry, there is still enough room to satisfy and delight customers.
The COVID pandemic had both positive and negative effects on the biscuit market: global supply chain disruptions led to decreased output as businesses shut down their plants or operated with fewer workers. Nutritious oat-based and nut-based biscuits were in high demand since they catered to consumers looking for quick, healthy snack options.
Europe’s biscuit market held the largest market share in 2022, the study shows. Indulgence is a major factor in biscuit sales in the United Kingdom, for example, with a growing demand for healthier offerings. New products, such as breakfast biscuits, thins, free-from alternatives, and healthy biscuits, are constantly being introduced.
The Asia-Pacific Biscuits Market will experience the fastest CAGR growt,h MRFR anticipates. In China, the rising demand is fueled by rising incomes, urbanization, and health consciousness among the general population. There are constantly new products, such as breakfast biscuits, free-from alternatives, ‘thins,’ and nutritional biscuits.
Biscuit manufacturers are reducing the amount of sodium, sugar, and fat in their products to adhere to government health recommendations, and are also introducing new ingredients like whole grains, vitamins, and minerals to appeal to consumers who are willing to spend more money on nutritious snacks. The market is expected to benefit from market participants’ efforts to expand production capacity and increase product availability, the researcher anticipates.
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