Biscuit industry expansion opportunities in Asia-Pacific

    Global Biscuits Market Poised for Significant Growth Amidst Strategic Mergers and Regional Demand

The global biscuits market is on a robust growth trajectory, with projections indicating a rise from USD 122.96 billion in 2023 to nearly USD 173.02 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. This surge is driven by evolving consumer preferences, increased health consciousness, and strategic industry consolidations.

Competitive Landscape and Regional Demand

The biscuits industry is witnessing intensified competition, with key players focusing on product innovation and strategic mergers to strengthen their market positions. Notably, the Asia-Pacific region is anticipated to lead the market during the forecast period, attributed to rising disposable incomes and a growing inclination towards convenient snacking options.

United States Biscuit Market Growth and Consolidation

The U.S. biscuits market is experiencing significant consolidation. In October 2024, J.M. Smucker announced the divestiture of its cookie brand, Voortman, to Second Name Brands for $305 million. This move aligns with Smucker's strategy to focus on core growth brands like Café Bustelo and Uncrustables. Such strategic realignments are expected to foster innovation and cater to the evolving tastes of health-conscious American consumers.

Asia-Pacific Biscuit Market Opportunities and Trends

The Asia-Pacific region is witnessing remarkable growth in the biscuits market. Countries like Vietnam, Thailand, Singapore, Japan, and South Korea are leading this surge, driven by a shift towards healthier, low-sugar options and the incorporation of ethnic flavors. For instance, in Thailand, biscuits infused with matcha and pandan are gaining popularity, reflecting a blend of traditional tastes with modern snacking trends. This regional diversification presents lucrative opportunities for both local and international biscuit manufacturers.

Middle East and Africa Biscuit Market Expansion and Trends

The Middle East and Africa are emerging as promising markets for biscuits, with a growing demand for both traditional and innovative products. United Biscuits, known for brands like McVitie's, has strategically acquired a majority stake in Saudi Arabia's Rana Confectionery Products. This acquisition aims to cater to the local palate while leveraging Rana's distribution network to penetrate the broader Middle Eastern market. Such expansions underscore the region's potential and the industry's adaptability to regional tastes.

Europe Biscuit Market Trends and Industry Updation

Europe continues to be a significant player in the global biscuits market, with a focus on premium and gourmet products. In August 2024, Mars agreed to acquire Kellanova, the maker of Pringles and Pop-Tarts, for $36 billion. This acquisition is set to enhance Mars' product portfolio and expand its geographical reach, particularly in Africa and Latin America. European consumers' growing preference for high-quality, indulgent biscuits is driving manufacturers to innovate and update their offerings continually.

Biscuits Market segmentation : 

by Flavor Type

Plain
Chocolate
Sour Cream
Cheese
Spiced
Fruits and Nuts

by Product Type

Sweet Biscuits
Savory
Crackers
Filled/Coated
Wafers

Sweet, savory, crackers, filled/coated, and wafers are the several product categories that make up the global biscuit market. The worldwide biscuits market is anticipated to develop at a higher compound annual growth rate (CAGR) of 5.35% during the forecast period for the Sweet Biscuits segment. The globe over, sweet biscuits are a favorite due to their delicious flavor, high energy content, and accessibility. Sweet biscuits are incredibly popular with consumers due to their high nutritional value. The expansion of the supermarket industry is anticipated to boost demand for fully prepared snacks and improve customer access, which will drive growth in the sweet biscuits segment throughout the projection period.

by Source

Wheat
Oats
Millets

by Distribution Channel

Supermarket/Hypermarket
Convenience Store
Specialty Store
•Online Retail

The global biscuit market is divided into four segments based on the distribution channel: specialty stores, convenience stores, supermarkets/hypermarkets, and online retail. Over the course of the forecast period, the online retail segment of the global biscuits market is anticipated to rise at a higher CAGR of 4.98%. Because internet commerce offers more savings and a greater selection of products, the online platform gains popularity because it allows customers to order products and have them delivered right to their home.

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 Learn about the top players driving innovation in the Biscuits Market :

1. Britannia Industries
2. Walkers Shortbread Ltd
3. Parle Products Pvt Ltd
4. Burton's Biscuit Company
5. Yildiz Holding Inc.
6. Bahlsen GmbH & Co. KG
7. Campbell Soup Company
8. Nestle SA
9. Kraft Foods Group, Inc.
10. Lotus Bakeries NV
11. Dali Food Group Co, Ltd.
12. The Hershey Company
13. Kambly SA
14. United Biscuits Company
15. Ulker Biskuvi Sanayi A.S.
16. Cornu AG

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