New York, NY, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Biscuit Market By Product (Sweet Biscuits, Savory, Crackers, Filled/Coated, And Wafers), By Source (Wheat, Oats, Millets, And Others), By Flavor Type (Plain, Chocolate, Sour Cream, Cheese And Spiced, Fruits & Nuts, And Others), and By Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Store, And Online Retail): Global Industry Perspective, Comprehensive Analysis And Forecast, 2017– 2024”. According to the report, the global biscuit market was valued at around USD 77.23 billion in 2017 and is expected to reach approximately USD 105 billion by 2024, growing at a CAGR of around 4.5% between 2018 and 2024.
Biscuit is a small baked product. The origin of the word biscuit is from the Latin word ‘bis coquere’ which means cooked twice. Biscuit is soft baked bread which is crisp or firm. It is also called cookies in some regions. Biscuit differs from other baked cereal products such as bread and cakes. The moisture content in biscuit is less as compared to the bread and cakes. Biscuit typically have 1-5% moisture content whereas bread has 35-45% and the cake has 15-30%. Low moisture content ensures that biscuit is free from microbial contamination and spoilage. Biscuit can have a long shelf life if they are prevented from absorbing moisture.
Browse through 71 Tables & 27 Figures spread over 110 Pages and in-depth TOC on “Global Biscuit Market Share 2017: Industry Size, Trends, Segments, Analysis and Forecast, 2024”.
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The main ingredients used for manufacturing biscuits are fat, sugar, and flour. Water is required during the dough mixing stage which is removed during the baking process. However, water plays an important role in biscuit making. The basic steps involved in biscuit making are dough mixing, formation, backing, and cooling. The process of formation varies from product to product. There are three processes used in the formation of biscuit such as cutting or stamping, rotary molding, and extruding.
On the basis of the type of product, the biscuit market can be classified into savory, sweet biscuits, crackers, wafers, and filled/coated. On the basis of source, the biscuit market is classified into millets, oats, wheat, and others. On the basis of flavor, the market can be classified into fruits & nuts, chocolate, plain, cheese & spiced, sour cream, and others.
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The market can be segmented on the basis of the distribution channel as a convenience store, supermarket/hypermarket, online retail, and specialty store. Supermarket & hypermarket segment is having advantages over other channels due to increasing acceptance among consumers owing to the availability of different types of biscuits under one roof, easy accessibility, the vast range of products offered at discounted price.
The Asia Pacific is anticipated to show major demand in years to come. Asia Pacific biscuit market is majorly driven by strong demographic growth in the region. Biscuit is considered the best alternative to bread and other confectionary products. In addition, increasing disposable income, changing the standard of living, rapid demographic growth, industrialization, and strong activity in urban areas in the countries like India and China is fueling the per capita consumption of biscuits which is affecting biscuit market positively. Moreover, increasing brand awareness and extensive marketing strategies are expected to fuel the biscuit market in the region.
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North America was another prominent regional market after Europe. Increasing research and development, product reformulation, and developing convenience format for health-conscious consumers by making a biscuit as a healthier snack option is driving the biscuit market growth. Increasing demand for low-sugar & calorie multigrain biscuits, fruit-flavored biscuits for children, and zero-sugar biscuits for diabetic people are anticipated to boost the biscuit market in the region. Maturing consumer demand and dietary concerns in North America are likely to affect the biscuit market positively. Increasing health content of the biscuit portfolio through the addition of functional and low-sugar ingredients coupled with exotic flavors is projected to fuel the biscuit market growth. In addition, increasing number of premium coffee shops & food services in developed countries such as the U.S. and coffee shop chains such as Caribou Coffee, Starbucks etc. which offer premium biscuit as a complimentary snack with beverages like coffee & tea is expected to fuel the biscuit market in the years to come.
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Latin America is anticipated to witness moderate growth due to demographic growth. Low product price makes it a highly affordable product for the majority of the people. This offers middle-class population with enough purchasing power to buy biscuits in more affordable format. Moreover, the introduction of low fat or fat-free, high fiber and fortified with vitamins and calcium biscuits are targeted to busy professionals in urban areas; these developments anticipate affecting the biscuit market in the region positively.
Some of the key companies have been investing in technological advancement, maintaining standards, and product innovation in order to retain their dominance in the market. Key players operating in this market are Lotus Bakeries NV, ITC Limited, Campbell Soup Company, Dali Food Group Co, Ltd., National Biscuit Industries LTD SAOG, Nestle SA, Kraft Foods Group, Inc., Britannia Industries Limited, The Kellogg Company, Mondelez International, Inc., Burton's Biscuit Company, and others.
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This report segments the global biscuit market as follows:
Global Biscuit Market: Product Type Segment Analysis
Global Biscuit Market: Source Type Segment Analysis
Global Biscuit Market: Flavor Type Segment Analysis
Global Biscuit Market: Distribution Channel Segment Analysis
Global Biscuit Market: Regional Segment Analysis
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