Biscuits Market Overview:
The biscuits Market is expected to be worth USD 172.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2024 - 2030)
The South Korea Biscuits Market is a dynamic and rapidly growing sector within the snack food industry, driven by changing consumer lifestyles and preferences. Biscuits, ranging from classic favorites to innovative new flavors, hold a prominent place in South Korean snacking culture. Market players in South Korea cater to diverse tastes by offering a wide range of biscuit varieties, including cookies, crackers, and sweet treats. Advanced manufacturing techniques and packaging innovations ensure product freshness and quality, while stringent food safety regulations uphold consumer confidence in the South Korean biscuit market. With a strong distribution network encompassing supermarket, convenience stores, and online platforms, biscuits are readily available and accessible to consumers across South Korea. As consumer demand for convenient and flavorful snacks continues to rise, the South Korean biscuit market presents significant opportunities for further growth and expansion within the industry.
Biscuits are made with flour, sugar or salt, butter, baking powder, and other substances depending on the flavor. Baked meals like biscuits come in various flavors, tastes, and textures.
Around the world, people typically eat biscuits as a snack rather than a full meal. Small and flavorful biscuits might be salty or sweet. Biscuits are inexpensive, simple to eat, and simple to locate. It has a lengthy shelf life and can be consumed for several months. Almost everyone around the globe prefers it as a snack option. Because biscuits are necessary for every global economy, growth is always accelerating. New varieties of biscuits in enticing flavors are introduced daily to the market.
Because they are a simple snack alternative with nutritious components, the Biscuits Market is experiencing rising demand. The food-on-the-go trend has been particularly popular due to people's busy lives. Since consumers think of biscuits as the most frequent food item, this has significantly boosted the market share for biscuits. Consumers are also being drawn in by a variety of launches of biscuits that are organic, gluten-free, low-fat, and high in fiber. There is a rise in demand for biscuits as a result of the companies' varied marketing.
Regional Analysis:
● Due to the enormous demand for biscuits in nations like India, Japan, and China, the Asia Pacific region dominates the global market for biscuits. The demand for biscuits is rising as people's per capita income rises. In this area, the demand for cream biscuits is expanding quickly. The rising population in China is causing the biscuit business to grow.
● Due to large manufacturers in this area, the cream biscuit and sweet market are expanding in Europe. Demand for biscuits will increase as consumers' preference for healthy snacks grows.
● Due to the increase in the US biscuit market, the market in North America will also experience tremendous growth. Due to the growing number of health issues, US consumers have a big demand for gluten-free biscuits, expanding the US biscuit market.
Key Players:
The Key Biscuits Market Companies such as Burtons Foods Ltd., Danone Group, Jiashili Group, Kraft Foods, MARS, Kellogg, McVities, Mondelez International, Nestle, Thomas Tunnock Limited, Uni-President, United Biscuits and Want Want Group.
Market Segmentations:
The Biscuits Market is divided into types, distribution channels, and geographic regions.
According to type
The worldwide biscuits market is divided into crackers and savory and sweet varieties. According to a study of the biscuit business, sweet biscuits held the most market share in 2020. The filled biscuits category in sweet biscuits will expand at a rapid CAGR during the projection period. The market for cream biscuits will grow in the next years due to the huge demand for sweet biscuits worldwide.
According to the distribution channel
Based on the distribution channel, the biscuits market is divided into independent bakeries, internet channels, convenience stores, supermarkets, and others. In 2020, the supermarket held the largest market share for biscuits.
According to region
The biscuits market is divided into North America, Europe, Asia Pacific, and the rest of the world as per the region.
Industry News:
● Gourmet Food Holdings Pty Ltd, an Australian biscuit and cracker company, was acquired by Mondelez International in March 2021.
● Kellogg's factory began expanding in January 2020 by investing BRL 215 million (USD 68 million).
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