Global Sweet Biscuit Market is forecasted to reach USD 109.4 billion by 2024 growing at a CAGR of 5.35% during the forecast period (2019 - 2024). The growing preference for convenient snacking, coupled with easier consumer accessibility through the advancing retail sector, is one of the few factors augmenting the growth of sweet biscuits market, globally. Sandwich biscuits are growing at the fastest pace, owing to the diversified flavor ranges and growing preferences among kids and the younger generation. The evolving retail landscape and the inclination toward purchase of premium bakery products are expected to propel the demand for the market, over the forecast period.
Scope of the Report
The global sweet biscuit market studied covers the various types of sweet biscuits, such as chocolate-coated biscuits, cookies, filled biscuits, plain biscuits, sandwich biscuits, and other sweet biscuits. By distribution channel, the market has been segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online stores, and other distribution channels.
Key Market Trends
Plain Biscuit Market Held the Largest Market
Plain sweet biscuits are demanded and consumed by every economic section around the world, their growth rate is expected to increase at a consistent rate. Moreover, this type of biscuit is easily available, which makes it a more preferred choice by the consumers, as it can be consumed at anytime. With growing awareness on nutrition, healthy diet plays a crucial role in today’s busy lifestyles. Global consumers are looking for those biscuits that are, both, convenient and help in quantifying the intake of nutrients. Therefore, companies are increasingly launching digestive biscuits, and are competitively engaged in launching new and innovative plain biscuits, particularly in the developing countries where the consumption of health-based biscuits is increasing.
Asia- Pacific Dominates the Global Sweet Biscuit Market
Cookies remain as the most preferred types of biscuits and consumed regularly by people of all age groups in the United States. To cater to the rising demand for premium cookies in the country, Biscuit manufacturers are targeting various groups of consumers and launching the products specific to their need. The sweet biscuits market in Brazil is a stagnant market with widespread distribution and traditional brands and products established in different regions Japan remains a promising market for premium range sweet biscuits. Many foreign and local manufacturers are strategically expanding their business by launching new stores or e-commercializing to strengthen market penetration in the country. In order to stand out among other premium brands, manufacturers are experimenting with the product flavors and introducing limited edition biscuits to foster the fast-growing Asia-Pacific market.
The market studied is highly fragmented, particularly with the significant presence of numerous local and regional players. Mondelez International, Britannia Industries Ltd, Nestle, The Campbell Soup Company, Groupo Bimbo, Parle Products Ltd, and Kellogg Company are the most active companies in the sweet biscuit market. The companies are increasing their product line and also expanding their presence, worldwide. Key players in the global sweet biscuit market adopt key strategies, such as new product innovation, expansions, mergers and acquisitions, followed by partnerships.
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