Biscuits Market - Growth, Trends, and Forecast (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||389875|
|出版日期||內容資訊||英文 110 Pages
|全球餅乾市場:成長，趨勢，及預測(2020年∼2025年) Biscuits Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日期: 2020年04月01日||內容資訊: 英文 110 Pages||
The Global Biscuits Market is expected to reach USD 164 billion by 2024, at a CAGR of 5.08%.
Consumers from emerging economies have an increasing preference for premium biscuit products.
In addition to focusing on new product development and marketing communications, the companies will also engage in various in-store promotions. These in-store promotions are likely to centre on money off promotions, such as extra value packs, or buy-one-get-one-free.
The Global Biscuits Market is segmented by Cookies, Sandwich Biscuits, Bread Substitutes, Cheese-flavored Crackers, Filled Biscuits, Plain Crackers, Chocolate Coated Biscuits, Other Sweet Biscuits, Plain Biscuits, Other Crackers; By Distribution as Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, Others; and by Geography
Convenience snacking and Food-on-the-Go
Currently, lifestyle is undergoing a transformation, where the convenience trend reflects the increased time pressure, stress, and work-life balance problems. Long working hours and lack of cooking skills are leading to increased demand for convenience foods; however, concurrently, consumers are showing a preference for healthy products. "Food-on-the-go" is the most recent trend, and this is the fundamental consideration for consumers while purchasing food products. The current populace displays a severe lack of cooking skills and a high level of technology literacy. Hence, these consumers opt for easily available healthy snacks in the market, such as protein biscuits and so on. Several companies have already come up with innovative products that facilitate health benefits, such as zero trans fat and new flavours, along with strong advertisement campaigns.
Innovation and Premiumization
The growing trend of using premium biscuits as a gifting option for various occasions, such as Easter, Valentine's Day, or any family occasion, is driving the sales of the luxury biscuits market, internationally. Godiva, a subsidiary of Yildiz Holding, a Turkish company, offers premium biscuits with various fillings, such as dark chocolate, milk chocolate, caramel, and coffee. Its assorted premium biscuits, with luxury packaging, are enjoyed by consumers of higher income groups. There is an increasing demand for innovative flavours. For instance, in 2018, Tim Tam, which is a signature Australian biscuit brand, collaborated with a premium innovator, Gelato Messina, to create a range of gelato-flavoured biscuits in Australia and New Zealand. The biscuits are best served chilled, to capture the true flavour of the gelato-inspired fillings. And adding to the experience, the biscuits come in heat-sensitive packets, which change colour when they are chilled. The biscuits are available in three new innovative flavours, including iced coffee, Turkish delight, and Choc Cherry Coconut.
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. Manufacturers are living up to consumer demands by launching innovative products with functional properties such as high protein and by using ingredients such as nuts & seeds and dry fruits in biscuits.