Biscuit Market is to grow at a 5% CAGR, with North America leading the market through 2030

By 2030, it's anticipated that the Biscuit Market will grow to USD 173.02 billion. Rising demand for high-quality, healthful snacks and health-conscious consumer behavior are the main drivers of this expansion.

Market to Hit USD 173.02 Bn by 2030

Biscuit Market was USD 122.96 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 5% from 2024 to 2030, reaching USD 173.02 Bn by 2030. The biscuit market is projected to increase at a compound annual growth rate (CAGR) of 5% from 2024 to 2030, from its 2023 valuation of USD 122.96 billion to USD 173.02 billion. More than 35% of the brand's total biscuit sales in 2023 came from its Nutri Choice line, which includes whole-grain, sugar-free, and low-calorie biscuits. Parle Products Comprising popular biscuit brands such as Parle-G, Parle has ventured into the health-conscious market. The company's overall biscuit revenue reached USD 2.5 billion in 2023 as a result of a 10–12% growth in Parle's Oats biscuit and sugar-free biscuit sales annually. Oreo cookies are produced by Mondelez, a significant global company, especially in North America and Europe. More than half of Mondelez's biscuit sales are under the Oreo brand alone, which holds a 12–15% global market share. The market for premium biscuits is expected to grow faster than the overall market. Low-fat biscuits also account for a sizable portion of the market, with high-protein and low-calorie versions growing in popularity, particularly in North America and Europe. The value of cookies and biscuits sold online in the US was over USD 3 billion in 2023, and it is predicted that this market will grow at a rate of 7-8% annually until 2030.

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Market Segmentation

By Product Type: With steady expansion, sweet biscuits are the most popular product category in the biscuit market. They are a popular snack choice all over the world because of their taste, energy content, and adaptability. Customers value the range of delicious biscuits that are offered, such as those with fruit, chocolate, and nut fillings. 

By Distribution Channel: Over the course of the forecast period, the online retail segment of the global biscuits market is expected to develop at the fastest rate, with a compound annual growth rate (CAGR) of 4.98%. Online marketplaces provide consumers the convenience of home shopping together with a large selection of biscuit brands and discounts. 

Market Regional Analysis

Europe, is anticipated to expand at a compound annual growth rate (CAGR) of 5.25% over the projection period because to a high demand for handy and healthful snack options. Consumer interest in luxury cookies and low-calorie, gluten-free options is rising in nations like the UK and Germany. 

North America, is expected to rule the world market for biscuits during the course of the forecast period. The industry is growing because of the region's strong predilection for packaged snack goods and rising desire for healthier biscuit options. 

Asia Pacific, is the biggest biscuit market in the area, accounting for 33% of the global market in 2023. The dominance of the area is being aided by the burgeoning middle class in nations like China and India as well as increased disposable incomes. In this area, biscuits are gaining popularity as a substitute for traditional bread and sweets. 

Market Competitive Landscape 

Nestle: August 2023, A line of plant-based biscuits was introduced by Nestlé under the Garden Gourmet brand. These biscuits represent the company's ongoing transition to plant-based food solutions and satisfy the rising demand for vegan and vegetarian products.

Britannia: June 2023, Nutri Choice Seed Biscuits, enhanced with chia, pumpkin, and other seeds, were first offered by Britannia. The growing need for wholesome and health-conscious snack options is met by this innovation.

Parle: November 2023, Parle introduced their line of multigrain biscuits to appeal to consumers who are health-conscious. The biscuits are made with natural ingredients and whole grains, which is in line with the global trend toward wholesome, clean-label products.

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Key Company Analysis

Walkers Shortbread Ltd holds a 12% market share in the UK shortbread segment and has an estimated $4.5 billion global market for traditional all-butter shortbread, which is growing at 3.1% CAGR. 

Lotus Bakeries NV holds a 15% market share in the global biscuit market and leads the Speculoos category, with a $3.7 billion market size for Speculoos cookies, growing at a 5.5% CAGR

Conclusion 

• Demand for premium and healthier biscuit options is being driven by health-conscious consumers.
• Market accessibility is improved by more availability through physical storefronts and internet retail.
• To adapt to changing consumer tastes, businesses are developing new product lines, such as gourmet, plant-based, and multigrain cookies.

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