This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies
PUNE, INDIA, November 6, 2019 /EINPresswire.com/ — Market Overview
Growing at a CAGR of approximately 5.08%, the global sweet biscuit market is expected to reach 164 billion dollars by 2024. Sweet biscuits come under the category of food-on-the-go. These are foods that can be consumed when required without having to cook them in any manner. The demand for sweet biscuits is growing owing to the fact that these can be easily and conveniently consumed. The lifestyle of people, lack of cooking skills and the lack of time to cook is driving the demand of these biscuits. In the coming years, the global sweet biscuit market is expected to expand rapidly.
Most people consume a minimum of two biscuits every day which increases the demand of these biscuits. Sweet biscuits are sold in supermarkets, hypermarkets, cafes and also in small retail outlets. The sale of sweet biscuits in all these stores adds in a significant manner to the expansion of the global market. The market for plain biscuits is expected to grow at a rapid pace in the coming years because these are biscuits that are consumed by every economic section across the globe. The demand for plain biscuits is also bound to increase because of their easy availability. Sandwich biscuits market is growing at a fast pace because of the variety of flavours made available in these biscuits. In addition, the healthy biscuits like protein and digestive biscuits will also add significantly to the global market because people are demanding healthier biscuits.
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With people becoming more aware about their health, most people demand for healthy biscuits. These biscuits containing proteins and other nutritional components are a trend in the global market that are driving the expansion of the global sweet biscuit market.
Global Market Key Players :
Broadly, the sweet biscuit market is segmented into types and distribution outlets.
On the basis of their type, the sweet biscuits are categorised into chocolate biscuits, plain biscuits, filled biscuits, sandwich biscuits and other types of crackers.
The global sweet biscuit market is segmented on the basis of their distribution outlets. Sweet biscuits are sold in supermarkets, retail outlets, convenience stores as well as online stores. The sale of sweet biscuits across all these outlets is adding to the global sweet biscuit market in a significant manner and will continue to do so in the coming years.
There are several key players in the competitive global sweet biscuit market. These players provide for 100% representation of sweet biscuits in the market and therefore are able to withstand competition from new entrants. The key players include Mondelez International, Britannia Industries Ltd., Nestle, Campbell Soup Company, Parle Products Ltd., and Kellogg Company.
The United States leads the global sweet biscuit market as biscuits remain the most consumed convenience food for people of all ages. Asia Pacific market is the fastest growing market owing to the manufacturers experimenting with new flavours and also introducing limited edition biscuits. Other regions like Japan, Brazil, Middle East and Europe are also contributing to the global significantly.
The expanding global sweet biscuit market is attributed to the growing preference of people for convenient snacking and ease of availability of biscuits. In addition, sweet biscuits are available in diverse flavours and types thereby meeting the demand of a large section of consumers.
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Source: EIN Presswire