Biscuits Market - Forecast(2024 - 2030)

Sweet Biscuits Market Overview

Sweet Biscuits Market size is estimated to reach $95.9 billion by 2030 with an estimated CAGR of 3.8% during the forecast period 2024-2030. Sweet Biscuits are made of flour, sugar, butter or vegetable shortening, and baking powder as a leavening agent. They are baked food item that is flour-based and used as a snack. These food products are available in different flavours, types, tastes, and textures. Sweet Biscuits are generally sweet in taste made from sugar or honey. Sweet Biscuits are one of the most famous and preferred packaged snacks around the globe. They can be mixed along with a variety of ingredients, which include, nuts, chocolate flavour, Choco chips, sandwich fillings, which include cream-based fillings of fruit, chocolate, and jam fillings. 

Consumers are seeking Sweet Biscuits made with natural ingredients, whole grains, and reduced sugar and fat content. Brands are responding by introducing healthier variants such as whole wheat, gluten-free, and organic Sweet Biscuits to cater to health-conscious consumers. Additionally, there's a growing emphasis on fortifying Sweet Biscuits with vitamins, minerals, and functional ingredients like fiber and protein to enhance nutritional value. Premiumization is reshaping the Sweet Biscuits landscape, with consumers willing to pay more for high-quality, artisanal Sweet Biscuits with unique flavors, textures, and ingredients. Artisanal and gourmet Sweet Biscuits featuring exotic ingredients, handcrafted techniques, and artisanal packaging are gaining traction among discerning consumers seeking indulgent and exclusive snacking experiences. Brands are leveraging premiumization to differentiate their offerings and tap into the growing demand for luxury Sweet Biscuits.

Market Snapshot: 

Sweet Biscuits Market Report Coverage

The report: “Sweet Biscuits Market Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Sweet Biscuits Market. 

By Type: Chocolate-Coated Biscuits, Cookies, Filled Biscuits, Plain Biscuits, Sandwich Biscuits and Others.

By Packaging: Pouches/Packets, Jars, Boxes and Others

By Distribution Channel: Convenience Stores, Independent Bakery, Online Retail, Supermarket/ Hypermarket and Others

By Geography: North America, Asia Pacific, Europe, and Rest of the World.

Key Takeaways

• Geographically, North America holds the largest share in the global Sweet Biscuits market in 2023, owing to the increasing consumer demand in the region. Changing consumer lifestyles and preferences play a significant role in the industry's growth. As consumers seek convenient and portable snack options to fit busy schedules, Sweet Biscuits emerge as a popular choice due to their shelf-stability and on-the-go convenience.
• Increasing disposable income of consumers and changing living standards of the middle-class population across the globe is set to boost the global Sweet Biscuits market growth positively.
• Competition is very high in the market with virtually no entry barriers and almost 100% penetration of the product, which is set to increase the demand of the market for the forecast period 2024-2030.

By Type - Segment Analysis

Based on Product Type, In 2023, the Plain Biscuits Segment had the largest revenue market share. Plain biscuits are in high demand and are enjoyed by people from all walks of life all over the world, and the trend is expected to continue. Biscuits that are both handy and aid in nutrient measurement are in high demand around the world. As a result, companies are increasingly launching digestive biscuits, as well as innovative and creative plain biscuits, especially in emerging countries, where health-based biscuit consumption is on the rise. Sandwich Biscuits segment is anticipated to grow with the fastest CAGR of 4.7% in the forecast period 2021-2026 as the low-calorie spreads have emerged as a result of consumers' growing health consciousness. Rising consumer expenditure on ready-to-eat food items is driving segment growth, owing to benefits such as increased awareness of the need of a healthy breakfast. Over the projected period, the altering retail landscape and consumer preference for luxury bakery items are expected to drive demand for the market.

By Distribution Channel - Segment Analysis

Based on the distribution channel, the global Sweet Biscuits market has Convenience Stores, Independent bakeries, Online Channels, Supermarkets/ hypermarkets, and others. The supermarkets and hypermarkets segment accounts for the largest share of the market in 2023. The online retail segment is poised to register the highest CAGR of 5% during the forecast period 2024-2030. This is owing to online retailing provides more discounts and wider options to purchase. Besides, the online platform becomes popular owing to its doorstep delivery. 

Supermarkets and hypermarkets are self-help shops giving a wide variety of Sweet Biscuits such as sweet Sweet Biscuits, savory, crackers, filled or coated, and others. Supermarkets and hypermarkets offer extensive merchandise mix along with different brands of Sweet Biscuits, placed under the same roof, which helped it to occupy more revenue share. 

By Geography - Segment Analysis

Based on Geography, North America Sweet Biscuit Market accounted for the 43% revenue share in 2023 the increased consumption of sandwich biscuits, cookies, plain biscuits, particularly among the working class people in the United States. Canada, in the North American region, has been driving the regional market further. Furthermore, the availability of flavours like plain biscuits, cookies, buttercream, chocolate, and peanut butter is expected to boost sales. The market is also being boosted by increased disposable income, urbanisation, and changing lifestyles. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to higher product intake which propel the Sweet Biscuit Market.

Drivers – Sweet Biscuits Market

The Rising Demand for Healthy Cookie

The escalating demand for healthy cookies within the Sweet Biscuits industry is propelled by several key drivers, reflecting evolving consumer preferences and lifestyle trends. The heightened health consciousness among consumers is a significant driver. As individuals become more health-aware, they seek healthier alternatives to traditional Sweet Biscuits that are often perceived as high in sugar, fat, and calories. Healthy cookies, formulated with nutritious ingredients such as whole grains, nuts, seeds, and natural sweeteners, offer consumers a guilt-free snacking option. The changing dietary habits and wellness trends contribute to the rising demand. Consumers are increasingly adopting balanced diets and embracing wellness-focused lifestyles, leading them to opt for snacks that align with their health goals. Healthy cookies, featuring reduced sugar content, gluten-free options, and clean-label formulations, cater to these evolving dietary preferences. Demand for Sweet Biscuits witnessed to have a rising trend owing to the product innovations involved in the sector and the use of high-quality ingredients. Sweet Biscuits, which are available in forms like multiple grains, Ragi, Oats, and others, are grabbing the attention of the millennials who tend to stay fit with ready to-go food. In addition, bakery manufacturers attract customers with innovative packaging solutions, which is set to drive growth. 

Increasing Demand for Organic Food

Sweet Biscuits are becoming increasingly popular around the world, as people seek for components that are both healthy and vegan. Consumer demand for plain biscuits, cookies and natural/organic claims are all growing in popularity. Traditional flavours are dominating the market, despite the introduction of Sweet Biscuits with increased health benefits and a variety of taste profiles. Also, the rise in demand for convenience meals can be seen more prominently in developing countries, as per capita food expenditure rises in tandem with per capita income is further aiding to the industry expansion.

Challenges – Sweet Biscuits Market

The High Production Cost

The Sweet Biscuit Market's growth is hampered owing to the high production cost of the key ingredients, product safety standards, government regulation of policy and the use of alternative technology. The market's growth is being hampered by a lack of raw materials. Furthermore, the rise in popularity of cereals and the reduction in bread sales are limiting its market expansion. Growing public awareness of the dangers of certain preservation chemicals is also a key hindrance to the market's expansion.

Sweet Biscuits Industry outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Sweet Biscuits Market. Key companies of this market are Nestlé UK Ltd., Parle Products Pvt. Ltd, Kellogg Company, Britannia Industries Ltd., Burton's Foods Ltd, Lotus Bakeries NV, McVities, United Sweet Biscuits, Cadbury, PepsiCo/Walkers Shortbread Ltd etc.

Acquisitions/Product Launches:

• In November 2023, Barilla, Milma launched premium dark chocolate and butter Sweet Biscuits, targeting health-conscious consumers, marking its foray into the dark chocolate segment and expanding its product portfolio to meet evolving consumer preferences.
• In May 2023, ITC Foods introduced millet cookies under Sunfeast Farmlite, aligning with the growing recognition of millets as climate-smart, superfoods. Through its 'ITC Mission Millet' initiative, ITC aims to develop a nutritious product range, promote sustainable farming practices, and raise consumer awareness about the benefits of millets.

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