Sweet Biscuit Market - Forecast(2023 - 2028)

Sweet Biscuit Market Overview

Sweet Biscuit Market size is estimated at $87.2 billion in 2020, projected to grow at a CAGR of 3.3% during the forecast period 2021-2026. Sweet biscuit is a flour based baked food product and its dough is generally used for strawberry shortcake which is dessert. Sweet biscuits like plain biscuits, cookies and others are affordable and easy to pick up, store and consume. Increasing demand for convenience food products coupled with changing preference of consumers towards cookies, plain biscuits as snacks are the major factors driving the growth of the Sweet Biscuit market. The biscuit is a low-cost, easy-to-find, and easy-to-eat basic and healthy food with a high and long shelf life, making it ideal for snacking. Every day, new products and appealing packaging have an impact on the sweet biscuits industry. It's sweeter than other biscuits and can be stuffed with fruit, nuts, or baking chips. They're great for breakfast or any time a person wants something filling but not too heavy, would drive up Sweet Biscuits industry demand.

Sweet Biscuit Market Report Coverage

The report: “Sweet Biscuit Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Sweet Biscuit Market.

By Product Type: Chocolate-Coated Biscuits, Cookies, Filled Biscuits, Plain Biscuits, Sandwich Biscuits and Others.
By Packaging Type: Glass Bottle, Jar, Pouches/Packets and Others.
By Distribution Channel: E-Commerce, Hypermarket/Supermarket, Convenience Stores and Others.
By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

Key Takeaways

• Sweet Biscuit Market growth is being driven by consumers desire to eat light food stuffs as their favourite snacks, which is met by manufacturers through a variety of products tailored to the preferences of consumers.
• Geographically, North America Sweet Biscuit Market held the largest revenue share of 43% in 2020 owing to the growing product consumption. The scope of the Sweet Biscuit Market for various regions will be provided in the final report.
• The Sweet Biscuits Industry is expanding owing to adoption of a new lifestyle and the high disposable income of middle-class households, consumers' preferences have moved dramatically towards these products.
• Increasing cases of emergency food quality test failures and rising health problems in younger population hampers the Sweet Biscuits industry.

Sweet Biscuit Market: Market Share (%) by Region, 2020

Sweet Biscuit Market Segment Analysis – By Product Type

Based on Product Type, In 2020, 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.

Sweet Biscuit Market Segment Analysis – By Distribution Channel

Based on Distribution Channel, E-Commerce accounted for the largest revenue market share in 2020 owing towards ease of availability of a wide selection of products in various flavors and uses as in various flavouring ingredient given by all brands at reasonable discounts. The growing number of smartphone and internet users is the primary driver of sector growth. These businesses give cash back and home delivery services, which contribute to the market's growth. Customers frequently purchase Sweet Biscuits with various flavors like chocolate coated biscuits, cookies, plain biscuits and others from online websites in order to save time due to the increasingly hectic lifestyle. Furthermore, the online retail segment is expected to account for the largest share of the market, owing to the fact that online retailing offers more discounts and purchase options, and the online platform has grown in popularity as a result of its ability to deliver products to customers' doorsteps. Major corporations, such as Big Basket, are collaborating with internet shops to broaden their customer base. They also create their online portals and websites to promote the growth of the market in order to increase product sales driving the Sweet Biscuits Industry. Supermarket/Hypermarket is anticipated to grow with the fastest CAGR of 4.1% in the forecast period 2021-2026. Supermarkets are attempting to engage customers and make them a part of the meal preparation process. Such activities set supermarket purchasing apart from that of larger, mass merchandisers, resulting in segment growth.

Sweet Biscuit Market Segment Analysis – By Geography

Based on Geography, North America Sweet Biscuit Market accounted for the 43% revenue share in 2020 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.

Sweet Biscuit Market - Drivers

The Growing Demand for Organic Food Product:

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.

Sweet Biscuit Market - Challenges

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 Biscuit Market - Landscape

The Sweet Biscuit Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Sweet Biscuit Market top 10 companies are Mondelez International Inc., Kerry, Britannia Industries Limited, PepsiCo Inc., Nestle SA, Parle Products Private Limited, Yildiz Holding AS, The Campbell Soup Company, Kraft Foods Group Inc., ITC Ltd. and Grupo Bimbo.

Acquisitions/Product Launches:

• In January, 2021, Kerry expands its nutritional food range owing to increasing demand of vegan, organic and allergen-free products. This expansion helps to increase the development in food and beverage sector and thus expanding the market growth.
• In April 2020, Give & Go, a North American leader in fully-finished sweet baked treats, has been bought by Mondelez International Inc. Both firms will benefit from this transaction, which will help them accelerate innovation, consumer engagement, and strategic retail alliances.

Related Reports-

Sweet Potatoes Market – Forecast(2021 - 2026)

Report Code: FBR 0135

Global Monk Fruit Sweetener Market - Forecast(2021 - 2026)

Report Code: FBR 35342

For more Food and Beverage Market reports, please click here