Biscuits Market Size
Study Period | 2019-2029 |
Market Size (2024) | USD 122.87 Billion |
Market Size (2029) | USD 156.59 Billion |
CAGR (2024 - 2029) | 4.97 % |
Fastest Growing Market | South America |
Largest Market | Europe |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Biscuits Market Analysis
The Biscuits Market size is estimated at USD 122.87 billion in 2024, and is expected to reach USD 156.59 billion by 2029, growing at a CAGR of 4.97% during the forecast period (2024-2029).
- Consumers' preference for convenient, healthy snacking options drives the demand for nutritious oat- and nut-based biscuits. People of all ages prefer to snack on biscuits, resulting in the market's constant growth. Children especially like biscuits with different flavors, shapes, and creams. Therefore, market players are developing biscuits that are targeted toward children. For instance, in April 2022, Koobi launched the 5D Fun Chocolate and Milk Biscuits in Malaysia. These animal-shaped biscuits, available in chocolate and milk flavors, aid in children's learning and cognitive capacities.
- Additionally, the recent trend of food on the go has become a significant factor driving the market. This trend is one of the essential considerations for customers when purchasing food products. In addition, frequent launches of new formulations in the primary outcome, such as low-fat, gluten-free, low-carb, organic, and high-fiber biscuits, to attract consumers are expected to fuel the market growth.
- Regarding segmentation by type, sweet biscuits are the fastest-growing sub-segment owing to their taste and incorporation of healthy ingredients. Moreover, fortified biscuit products infused and replaced with oats, millet, and other nutritional ingredients instead of wheat are gaining popularity in the market. This is mainly due to the increasing prevalence of chronic diseases such as diabetes, hypertension, and other digestive troubles that can be reduced with proper diet.
- Companies actively participate in in-store promotions, emphasizing new product development and marketing communications. These promotions, such as extra-value packs or buy one, get one free deal, primarily aim to help consumers save money. Moreover, in terms of distribution channels, online sales of biscuit products are rapidly growing, attracting numerous vertical specialists like Amazon, Walmart, Carrefour, and others who are capitalizing on the increasing e-retail growth.
Biscuits Market Trends
Inclination Towards Clean Label and Gluten-Free Products
- The demand for clean-label and gluten-free processed food products, such as biscuits, cookies, crackers, and scones, has risen considerably in recent years globally. One of the primary reasons people prefer gluten-free products is the prevalence of celiac disease in many regions worldwide.
- According to the Beyond Celiac Organization, around 1 in 133 Americans, or about 1% of the population, had celiac disease in 2021. Considering the trend, market players are focused on producing high-fiber, low-calorie, and gluten-free products. For instance, in July 2021, Arnott launched gluten-free versions of some of its biscuit brands, like Tiny Teddy, Scotch Finger, and Choc Ripple. The products are made with a gluten-free blend of corn, soy, rice, sorghum, and tapioca. In addition, rising consumer demand for nutritious products and increasing clean-label products result in market growth.
- Over the years, product launches with label claims like "no artificial additives," "non-GMO," and "reduced sugar" have quietly benefited customers. The growing interest in natural sweeteners like stevia and monk fruit, natural colors like spirulina, elderberry, and beetroot, and thickeners like tragacanth and gellan gum fuel the clean-label movement.
Europe Holds the Largest Market Share
- The market is driven by European consumers' rising demand for convenient snacking paired with healthy ingredients. A diverse range of new products, including healthy biscuits, 'thins,' free-from options, and breakfast biscuits, continuously enter the market, bolstering the region's demand for biscuits.
- Biscuits infused with nuts, seeds, dried fruits, and other nutrition-based ingredients are gaining traction as healthy alternatives for conventional biscuits. Consumers tend to be attracted to these ingredients as most prefer more nutritious options, resulting in significant market growth.
- New market players are entering the market, and hence, competition is getting intense among major players. As a result, manufacturers focus on launching innovative products to uphold their position in the market. For instance, in January 2022, the renowned French biscuit brand 'Lu' introduced four new biscuit varieties—Le Petit Chocolat, Le Petit Beurre, Le Petit Biscotte, and Le Petit Citron—in the United Kingdom. Furthermore, some brands are now capitalizing on the role of shaped biscuits for children, creating biscuits that can serve as a creative outlet as well as educational experiences, such as the 'Coole Kekse' vehicle and traffic sign-shaped biscuits from the German discount retailer Aldi.
Biscuits Industry Overview
Competition is very high in the market, with virtually no entry barriers due to the almost 100% penetration of the products. Many premium, functional biscuits have hit the market, giving the market leaders a run for their money. Major players are focusing on introducing new product offerings in the market to cater to the interests of consumers' current tastes and preferences. Some major players operating in the market are Yildiz Holding Inc., Mondelez International Inc., ITC Limited, Kellogg Company, and Britannia Industries Limited. Since sweet biscuits have a significant role in the bakery and snacks market, top companies deliver various flavors and variants of biscuits to satisfy consumers' taste demands.
Biscuits Market Leaders
Yıldız Holding Inc.
Mondelēz International, Inc.
Kellogg Company
ITC Limited
Britannia Industries Limited
*Disclaimer: Major Players sorted in no particular order
Biscuits Market News
- August 2023: Craze Biscuits unveiled two enticing additions to their lineup: Choco Rocky, a delectable cookie, and Bourbon, a chocolate-filled sandwich biscuit. These tantalizing flavors are now available for purchase both online and in brick-and-mortar stores across the company's target markets.
- January 2023: Reliance Consumer Products Ltd. forged a strategic partnership with Maliban Biscuit, a prominent player in Sri Lanka's biscuit market, to introduce its offerings in India. These products are now accessible through a wide network of offline and online retail outlets throughout the country.
- March 2022: Mondelez International completed the acquisition of Chipita Global SA, a rapidly expanding European powerhouse renowned for its croissants, bagel chips, cake bars, and a range of biscuits.
Biscuits Market Report - Table of Contents
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
4.1.1 Demand for clean-labeled biscuits products
4.1.2 Inclination towards fortified biscuits
4.2 Market Restraints
4.2.1 Demand for healthier snacking options such as fruits
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Crackers and Savory Biscuits
5.1.1.1 Plain Crackers
5.1.1.2 Flavored Crackers
5.1.2 Sweet Biscuits
5.1.2.1 Plain Biscuits
5.1.2.2 Cookies
5.1.2.3 Sandwich Biscuits
5.1.2.4 Chocolate-coated Biscuits
5.1.2.5 Other Sweet Biscuits
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialist Retailers
5.2.4 Online Retail 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 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
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 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
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 and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mondelēz International Inc.
6.3.2 Kellogg Company
6.3.3 ITC Limited
6.3.4 Britannia Industries Limited
6.3.5 Walkers Shortbread Ltd
6.3.6 Parle Products Pvt. Ltd
6.3.7 Ferrero International SA (Burton’s Biscuit Company)
6.3.8 Yildiz Holding Inc.
6.3.9 Bahlsen GmbH & Co. KG
6.3.10 Grupo Bimbo, S.A.B. de C.V.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Biscuits Industry Segmentation
Biscuits are flour-based baked food products, typically hard, flat, and unleavened.
The biscuit market is segmented by type, distribution channel, and geography. By type, the market is segmented into crackers and savory biscuits and sweet biscuits. Crackers and savory biscuits are further sub-segmented into plain crackers and flavored crackers. On the other hand, sweet biscuits are further sub-segmented into plain biscuits, cookies, sandwich biscuits, chocolate-coated biscuits, and other sweet biscuits. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, the Middle East and Africa.
The market sizing has been done in value terms in USD for all the abovementioned segments
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Biscuits Market Research Faqs
How big is the Biscuits Market?
The Biscuits Market size is expected to reach USD 122.87 billion in 2024 and grow at a CAGR of 4.97% to reach USD 156.59 billion by 2029.
What is the current Biscuits Market size?
In 2024, the Biscuits Market size is expected to reach USD 122.87 billion.
Who are the key players in Biscuits Market?
Yıldız Holding Inc., Mondelēz International, Inc., Kellogg Company, ITC Limited and Britannia Industries Limited are the major companies operating in the Biscuits Market.
Which is the fastest growing region in Biscuits Market?
South America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Biscuits Market?
In 2024, the Europe accounts for the largest market share in Biscuits Market.
What years does this Biscuits Market cover, and what was the market size in 2023?
In 2023, the Biscuits Market size was estimated at USD 116.76 billion. The report covers the Biscuits Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Biscuits Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Biscuits Industry Report
Statistics for the 2024 Biscuit market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Biscuit analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.