Market Size of Asia-Pacific Sweet Biscuits Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.37 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Sweet Biscuits Market Analysis
Asia-Pacific Sweet Biscuits Market is projected to register a CAGR of 2.37% during the forecast period, 2022-2027.
The demand and sale of snacks have experienced a sudden slump due to the outbreak of the COVID-19 pandemic. Asia-Pacific Sweet Biscuits market, which had been seeing some tasty-looking growth before Covid-19, has seen demand soar during the epidemic due to increased at-home consumption, as do many other product categories throughout the world. According to the 2019-20 annual report released by local big producer Britannia Industries, biscuits are India's largest processed food category. During the coronavirus quarantine, the popular and widely accessible biscuit brand Parle-G saw its highest sales in decades. During the lockdown period of March, April, and May, the firm claimed that the biscuit brand saw its strongest sales in over eight decades. While Parle-G enjoyed record-breaking sales, rival biscuits were not far behind. Increased munching surely helped Oreo, the world's most popular cookie. According to the annual report of Mondelez, in the quarter of 2020, Mondelez expanded e-commerce sales by 200 percent, bringing its online business to 6% of total sales.
Further, with the growing awareness about nutrition, a healthy diet plays a crucial role in today's busy lifestyles as global consumers are looking for those biscuits that are, both, convenient and help in quantifying the intake of nutrients. Therefore, digestive biscuits are increasingly launched by companies and are competitively engaged in launching new and innovative plain biscuits, particularly in developing countries where there is an increase in the consumption of health-based biscuits. Companies, such as Parle G and Britannia, are the most popular brands in India in the plain biscuit category.
In Australia, due to the growing demand for convenience food, innovations in packaging, and an expanding young population, the biscuit market is expected to continue to grow. There is a growing trend of using premium biscuits as gifting options for special occasions like Valentine's Day, Easter celebrations, or family gatherings across the country, providing a driving force for the luxury biscuit market.
