Market Size of Biscuits Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 132.43 Billion |
| Market Size (2029) | USD 169.10 Billion |
| CAGR (2024 - 2029) | 5.01 % |
| Fastest Growing Market | South America |
| Largest Market | Europe |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Biscuits Market Analysis
The Biscuits Market size is estimated at USD 132.43 billion in 2024, and is expected to reach USD 169.10 billion by 2029, growing at a CAGR of 5.01% during the forecast period (2024-2029).
Consumers' preference for convenient, healthy snacking options drives the demand for nutritious oat- and nut-based biscuits. Market players are introducing biscuits in different flavors, shapes, and creams 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 on-the-go food products 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, online sales of biscuit products are rapidly growing in terms of distribution channels, attracting numerous vertical specialists like Amazon, Walmart, Carrefour, and others who are capitalizing on the increasing e-retail trend.
