Sweet Biscuit Market to Grow with a CAGR of 4.5% Globally through 2028
Global Sweet Biscuit Market continues to
thrive due to factors such as health and wellness, flavor innovation and
premiumization, and sustainability and ethical sourcing.
According to TechSci Research report, “Global Sweet
Biscuit Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the Global Sweet Biscuit Market stood at USD 86.9 billion
in 2022 and is anticipated to grow with a CAGR of 4.5% in the forecast period,
2024-2028. The global sweet biscuit market is a dynamic and thriving sector
within the broader confectionery and baked goods industry. Sweet biscuits, also
known as cookies in some regions, are popular treats enjoyed by people of all
ages around the world. This market has seen substantial growth and
diversification in recent years, driven by changing consumer preferences,
evolving dietary habits, and the influence of macroeconomic factors.
One of the primary drivers of the global sweet biscuit
market is the universal appeal of these treats. Sweet biscuits come in a wide
variety of flavors, shapes, sizes, and textures, making them accessible to a
broad range of tastes and preferences. Whether you enjoy classic chocolate chip
cookies, delicate buttery shortbread, or spiced gingerbread, there is a sweet
biscuit option for almost every palate. This versatility and adaptability to
different flavor profiles and cultural contexts contribute to the market's
resilience and expansion.
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Biscuit Market”
The global sweet biscuit market has benefited from
consumers' increasing preference for convenient and portable snacks. Sweet
biscuits are a convenient choice for on-the-go snacking, making them a popular
choice for busy individuals who need a quick and satisfying treat during their
daily routines. The individual packaging and easy accessibility of sweet
biscuits have made them a go-to option for commuters, students, and office
workers.
The rise of e-commerce and digital marketing has
played a pivotal role in the sweet biscuit market's growth. Online retail
platforms have made it easier for consumers to explore and purchase a wide
variety of sweet biscuit products. The convenience of online shopping, coupled
with extensive marketing and promotions, has further fueled the market's
expansion. Brands and manufacturers have leveraged e-commerce to reach a global
audience and showcase their sweet biscuit offerings.
Health-conscious consumers are influencing the global
sweet biscuit market as well. In response to growing concerns about nutrition
and wellness, manufacturers have adapted by introducing sweet biscuits with
reduced sugar content, alternative sweeteners, and whole-grain ingredients.
These healthier options cater to consumers seeking better-for-you alternatives
without sacrificing taste or texture.
Furthermore, the premiumization trend has elevated the
sweet biscuit market. Consumers are increasingly willing to invest in
high-quality and indulgent biscuit products, emphasizing the use of top-quality
ingredients, artisanal craftsmanship, and unique flavor combinations. This shift
in consumer preferences has led to the creation of premium sweet biscuits that
cater to discerning palates.
The dominance of the sweet biscuit market is also
evident in the expanding bakery and confectionery industry. The demand for
sweet biscuits as stand-alone products or ingredients in various confectionery
items and desserts has surged. Sweet biscuits are often used in ice creams,
cheesecakes, pie crusts, and other confectionery treats, showcasing their
versatility and role in enhancing the overall dessert experience.
The influence of cultural diversity and regional
preferences has shaped the sweet biscuit market as well. Different countries
and regions have their own unique traditions and flavor preferences when it
comes to sweet biscuits. Manufacturers have adapted by creating specific
products tailored to these regional tastes, expanding their market reach and
catering to diverse consumer demands.
Moreover, the commitment to product quality and safety
is a hallmark of the sweet biscuit market. Stringent food regulations and
quality control measures are in place to ensure that sweet biscuits meet the
highest standards of safety and quality. This commitment to product integrity
has fostered consumer trust and confidence in sweet biscuits, further driving
the market's expansion.
Challenges facing the global sweet biscuit market
include increasing competition and the pursuit of innovative product offerings.
To stand out in a crowded marketplace, manufacturers need to continually
develop and introduce new flavors, ingredients, and formats to capture
consumers' attention. The desire for unique and novel taste experiences has led
to ongoing innovation in the sweet biscuit industry, fostering creativity and
growth.
Market competition is fierce, with both established
brands and smaller artisanal producers vying for a share of the market. As a
result, brands have had to invest in marketing and branding efforts to
differentiate their sweet biscuits and build a strong brand identity.
Eye-catching packaging, appealing design, and effective marketing campaigns are
crucial in attracting consumers in a competitive landscape.
The global sweet biscuit market is segmented into type,
source, sales channel, regional, and company.
Based on the type, chocolate-coated biscuits segment
emerged as the dominant player in the global sweet biscuit market. One of the primary drivers behind the ascendancy of
the chocolate-coated biscuits segment is the universal appeal of the
combination of chocolate and biscuits. The irresistible blend of crisp, buttery
biscuits enrobed in a luscious layer of chocolate caters to a wide range of
taste preferences and ages. This universal appeal has led to consistent demand
across diverse consumer segments, making it a sought-after category within the
sweet biscuit market.
Based on region, North America has a significant share
of the global sweet biscuit market. One of the primary drivers behind North
America's substantial share in the global sweet biscuit market is the region's
large and diverse consumer base. The United States, in particular, has a
significant population with a strong affinity for a wide range of snack foods,
including sweet biscuits. The region's consistent demand for these treats has
established North America as a crucial market for sweet biscuit manufacturers.
Major companies operating in Global Sweet Biscuit Market
are:
- Mondelēz International Inc. (belVita)
- Burton’s Biscuit Company
- ITC Limited (Sunfeast, Dark Fantasy)
- Parle Products Private Limited
- The Kellogg's Company
- Britannia Industries Limited
- Yildiz Holding AS
- Grupo Bimbo
- Bahlsen GmbH & Co. KG
- Simple Mills
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“The global sweet biscuit market is a vibrant and evolving
sector within the broader confectionery and baked goods industry. Its universal
appeal, convenience, adaptability to different flavor profiles, and response to
health-conscious trends have contributed to its growth. The role of e-commerce,
digital marketing, and premiumization has elevated the market, while the bakery
and confectionery industry's demand for sweet biscuits as ingredients has
expanded its reach. As consumer preferences continue to evolve, and as
manufacturers continue to innovate and adapt to changing market dynamics, the
global sweet biscuit market is expected to maintain its growth trajectory in
the years to come. This market's enduring popularity and versatility ensure its
continued relevance in the world of sweet treats and snacking.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Sweet Biscuit Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, Segmented By Type (Chocolate-coated
Biscuits, Cookies, Filled Biscuits, Plain Biscuits, Sandwich Biscuits, and
Others), By Source (Wheat, Oats, Millets, and Others), By Sales Channel
(Supermarkets/Hypermarkets, Convenience Stores, Online, and Others), By Region,
By Competition, 2018-2028, has evaluated the future growth potential of global sweet
biscuit market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global sweet biscuit market.
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