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Biscuits have been conventionally manufactured with flour, sugar, butter, milk, and chocolate. The biscuits market relies on product innovation in flavors, taste, shapes and attractive packaging and it automatically boosts the product sales. The global biscuits market is driven by increase in consumer awareness about ingredients and health benefits and changes in consumer preferences for low sugar and low-calorie nutritious biscuits. The leading market players manufacture the products as per the consumer preferences so as to continue capturing the existing market and explore the untapped market.
The production for the biscuits have been shut down abruptly owing to the implications of COVID-19. This has hampered the production and the stock of produce, subsequently impacting the revenue for the biscuits industry.
The supply chains of raw material and distribution channel for finished goods has been disrupted due to lack of transportation. This has created a misbalance between the market demand and supply of biscuits globally. The sales and the revenue for the global biscuits industry has declined.
Biscuits are highly consumed as breakfast meal worldwide. The convenience, taste and reliability of biscuits boost their applications in daily lives. The growing number of supermarkets owing to urbanization is easing the distribution and consumption of biscuits globally. High competition and increase in cost of raw material may hinder the market growth, however the leading market players compete on marketing strategies and product advertisements. This assists the marketers in capturing the market share. The global biscuits market is witnessing advancements owing to changing lifestyle and healthy dietary awareness about the biscuits industry.
The global biscuits market trends are as follows:
The launch of new products that are primarily developed as per the consumer requirements and changing preferences gain instant attraction from the consumer base and effectively drive the market. The varying consumer demands are fueled by growing competition, increasing disposable income and the transparency in market leading to consumer awareness.
The launch of new types of biscuits such as low-fact, sugar-free, low carb, diet biscuits with high fiber and less or no maize content etc. are suiting the needs of different types of customer across different regions and age groups. The increased application of biscuits from snacks to breakfast meal has boosted the demand for biscuits in the global market. Changing hectic lifestyle of consumers is generating the demand for on-the-go food and biscuits have a distinct position in that segment.
Manufacturers have been focusing on producing new products to the customers to suit their specific needs and at customers’ convenience. For this it is very important to advertise and promote the product and make it available to the customers at various platforms.
The distribution channels include the supermarkets and departmental stores that contain the basic snack food and grocery items, the specialty retailers that deal with particular or different brands, and the online platform of selling. The key marketing strategies include the promotional offers such as super value combo backs, buy-one-get-one offers, festive packs and many more. These are done to enhance the customer loyalty with the manufacturers.
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Questions Answered in the Biscuits Market Research Report:
Key Market Segments
Key Market Players