New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biscuits Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06067770/?utm_source=GNW
Moreover, consumer stacking long shelf-life items, including biscuits resulted in lesser product availability in the market. Nonetheless, consumers opting for convenient healthy snacking options drove the demand for nutritious oat-based, and nut-based biscuits, among others.
The market is driven by the rising demand for convenience snacking paired with healthy ingredients among consumers. Also, since Food-on-the-go is the most recent ongoing trend and is one of the fundamental considerations for consumers while purchasing food products, thus it has become a prominent factor for driving the market.
In addition, frequent launches with new formulations in the basic product such as low fat, gluten-free, low carbo, organic, and high fiber biscuits to attract consumers has further fueled the market growth. On the segmentation font by type, sweet biscuits is the fastest-growing sector owing to their taste and healthy ingredients.
Other than focusing on new product development and marketing communications, the companies are also engaging in various in-store promotions. These in-store promotions are likely to center on money off promotions, such as extra value packs, or buy-one-get-one-free. Also, in terms of distribution channel, online stores sales for healthy snack foods are growing at a faster rate, attracting many vertical specialists like Amazon, Walmart, Carrefour etc. who are riding on increasing e-retailing growth and vying for a significant pie in online biscuit space.
Key Market Trends
Gluten-free Biscuits Capturing Larger Consumer Base
The demand for gluten-free processed food products, such as bread, crackers, and biscuits has risen considerably in recent years, across the global market, predominantly in Asia-Pacific. India has the largest population affected by celiac disease, across the world, however, the amount of gluten-free food products available in India falls far short, hence, there is a huge potential for gluten-free food products, including gluten-free biscuits, in the Indian market. Whereas, in the global market, the major companies are extensively making efforts to bring gluten-free cookies to the retail shelves. An independent research study has stated that an increasing number of American people are turning their backs on food products containing gluten, despite the fact that the prevalence of celiac disease has remained flat in recent years. This is providing opportunities to the bakery manufacturers, to launch gluten-free sweet biscuits in the market. In this regard, in 2018, Biscuit International, which is a private label manufacturer, acquired Northumbrian Fine Foods (NFF) from CriSeren Foods in order to extend its product offerings and global reach and to become Europe’s largest producer of gluten and milk-free private label biscuit manufacturer. NFF is the United Kingdom’s largest gluten and milk-free sweet biscuits manufacturer.
Europe is the Largest Market
The market is driven by the rising demand for convenient snacking paired with healthy ingredients among European consumers. Also, consumers across the United Kingdom, Germany are driven by indulgence, depending on the type of biscuit and size of the pack. A diverse range of new products are continually being introduced, including healthy biscuits, ‘thins’, free-from options, and breakfast biscuits. Thus, boosting the demand for healthy biscuits in the region. Furthermore, as part of targeting the premium biscuits category in the United Kingdom, Mondelez International rolled out a Cadbury branded biscuit with the option of consuming the product warm, out of the microwave. The move comes along with understanding the altering consumer preferences, where the country’s demand for traditional regular biscuits kept falling, with a significant rise in the requirement of “premium experiences”, on the other hand.
Competitive Landscape
Competition is very high in the market with virtually no entry barriers due to almost 100% penetration of the product. A lot of premium, functional biscuits have hit the market, giving the market leaders a run for their money. Major players are focusing on introducing new product offerings in the market, to cater to the interests as per the ongoing tastes and preferences of the consumers. Since sweet biscuits have a significant role to play in the bakery and snacks market, top companies are engaged in delivering a variety of flavors and variants of biscuits, in order to satisfy consumer’s taste demands. For instance, in January 2018, MONDELEZ International brought together the Cadbury chocolate and Oreo, for two new sharing products in the United Kingdom.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06067770/?utm_source=GNW
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The global biscuits market was valued at USD 106,232.78 million in 2020, and it is projected to reach an estimated CAGR of 4.97 %, during the forecast period, 2021-2026
The global biscuits market witnessed both positive as well as negative impacts due to the COVID-19 pandemic. The negative impact on the market was due to disruption of global supply chains leading to companies shutting down their factories or working with limited staff in yielding low production.
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