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Biscuits Market Dynamics: Trends, Growth Drivers, and Market Projection, 2024-2029
Biscuits Market Dynamics
Global Biscuit Market Witnesses Strong Growth Fueled by Changing Consumer Lifestyles and Health & Wellness Trends.
What Is The Projected Market Size Of The Global Biscuits Market And Its Growth Rate?
The global biscuits market has exhibited commendable growth in recent years, with the market size expected to rise as follows:
• Market Size in 2024: $127.99 Billion
• Market Size in 2025: $135.3 Billion with a CAGR of 5.7%
• Projected Market Size in 2029: $168.45 Billion with a CAGR of 5.6%
This historical growth can be attributed to factors such as changing consumer lifestyles, health and wellness trends, as well as the surge in online shopping. The rise in artisanal and craft biscuits, subscription services, interactive packaging, and culinary collaborations will continue to fuel this market growth.
What Is Driving The Growth In The Biscuits Market?
Rapid urbanization worldwide is a significant factor expected to drive the growth of the global biscuits market. Urbanization or the population shift towards smaller, city-based residences is transforming the food landscape, influencing patterns of food demand, and molding consumer preferences. For example, the World Economic Forum predicts that the global urban population will rise to 80% by 2050, up from the current 55%. This shift towards city dwelling is causing unprecedented transformations in the food sector, thus positively impacting the biscuits market.
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Who Are the Key Players Driving Biscuits Market Growth?
The global biscuits market comprises several key players, including:
• Universal Robina Corporation
• Nestlé S.A.
• Mars Incorporated
• Mondelez International Inc.
• Grupo Bimbo S.A.B. de C.V.
• Kellogg Company
• Pladis Global
• Lotte Corporation
• The Hershey Company
• ITC Limited, and others
What Are The Key Trends In The Biscuits Market?
The forecast period for the biscuits market is expected to witness the following major trends:
• Increase in personalization trends
• Fusion of global flavors in biscuits
• Rise in plant-based diet popularity
• Diverse dietary preferences among consumers
• Artisanal and craft biscuits gain traction
• Subscription models for biscuit deliveries
• Interactive packaging becomes more common
• Increase in culinary collaborations in the biscuit industry
• Emergence of blockchain traceability in the supply chain
What Are The Segments Of The Global Biscuits Market?
1) By Type: Crackers And Savory Biscuits, Sweet Biscuits
2) By Source: Wheat, Oats, Millets
3) By Flavor Type: Plain, Chocolate, Sour Cream, Cheese, Spiced, Fruits And Nuts
4) By Distribution Channel: Supermarkets Or Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, Other Distribution Channels
Which Region Leads The Biscuits Market?
Europe held the largest share in the biscuits market in 2024. However, South America is projected to be the fastest-growing region during the forecast period. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, Middle East, and Africa.
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What Is Covered In The Biscuits Market Global Market Report?
- Market Size Analysis: Analyze the Biscuits Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Biscuits Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Biscuits Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Biscuits Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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