Year | Value |
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2023 | USD 41.33 Billion |
2032 | USD 55.7 Billion |
CAGR (2024-2032) | 3.37 % |
Note – Market size depicts the revenue generated over the financial year
The world market for biscuits is valued at about forty-three billion dollars in 2023 and is expected to reach fifty-five billion dollars in 2032, with a CAGR of 3.37% from 2024 to 2032. This steady growth is mainly driven by the increasing popularity of portable food and the changing preferences of consumers for convenient snacks. As the pace of life increases, consumers have a strong desire for taste and convenience, and biscuits can meet this need. The market is expected to grow, and there are many reasons. Product innovation is the main reason, such as the introduction of organic and gluten-free products, which are in line with the health needs of consumers. The development of packaging technology can also meet the needs of modern consumers, and can also prolong the shelf life and convenience of biscuits. The major players in the biscuit industry, such as Mondelez, PepsiCo, and Kellogg's, are also actively promoting their strategic cooperation and new product launches, in order to seize the market share. The trend of the competition is also very prominent. For example, the companies are collaborating to develop healthy snack alternatives and expand their distribution channels, which is very important for the future development of the biscuit industry.
Regional Market Size
Savory Biscuits Market is experiencing dynamic growth across the globe, owing to the changing preferences of the consumers, rising demand for convenient snacking, and the rise in health-conscious eating habits. The savory biscuits market is characterized by unique characteristics, which are influenced by the preferences, tastes, and culture, the economic conditions, and the regulatory environment, which shape the product offerings and marketing strategies of the key players. The savory biscuits market is characterized by the presence of a large number of players, who have been able to gain a large share of the market.
“Did you know that savory biscuits are a staple in many countries? Some countries have special varieties of their own, which have been adapted to their own taste and local ingredients. In India, for example, savory biscuits are usually seasoned with a masala and eaten with tea.” — Market Research Reports and Cultural Studies
The savory biscuit market is currently experiencing stable growth, driven by increasing consumer demand for convenient snacking and the rising popularity of on-the-go eating. In addition, a shift towards healthier snacking alternatives, with consumers seeking products that offer a nutritional advantage without sacrificing taste, is contributing to the market’s growth. Product innovations, such as the use of new ingredients and the addition of new flavours, are enhancing the market’s appeal, as well as meeting dietary preferences such as gluten-free and vegetarian. In terms of product development and distribution, Mondelez and PepsiCo are the leading companies. The savory biscuit market is dominated by well-established brands in regions such as North America and Europe. Product categories include cheese-flavoured crackers and herb-flavoured biscuits. Product trends such as clean labelling and the rising importance of sustainable sourcing are contributing to the market’s growth. Technological advances in food processing, such as improved methods of preserving flavours and extending shelf-life, are shaping the market’s evolution.
Savory Biscuits Market is set for a moderate growth from 2023 to 2032, with a CAGR of 3.37% from $ 41.33 billion in 2023 to $55.70 billion in 2032. The growth is driven by the growing demand for convenient snacks and the growing preference for healthier and gourmet savory biscuits. As urbanization continues to drive the trend towards a hectic lifestyle, the penetration of savory biscuits in households is expected to increase, with an estimated increase from 45% in 2023 to about 60% in 2032, especially in emerging markets where snack consumption is growing. Also, the development of key technological advances in food processing and packaging will enhance product offerings and enable manufacturers to launch new products with more flavors and healthier compositions to meet changing consumer preferences. Also, the growing trend towards sustainable practices will have an impact on market dynamics, with an increasing number of manufacturers adopting eco-friendly sourcing and production practices. Also, the integration of digital marketing strategies and e-commerce platforms will have a significant impact on the market's reach and availability, especially among younger consumers. In the end, the savory biscuits market will be reshaped by a combination of consumer trends, technological innovations, and strategic positioning.
Covered Aspects:Report Attribute/Metric | Details |
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Growth Rate | 3.28% (2024-2032) |
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