Covid-19 Impact on Biscuits Market | Global Demand and Industry by 2023
Biscuits Market
Global Biscuits Market is driven due to rising globalization, increase in disposable income and demand for convenience food and sedentary lifestyle. Increasing health concerns amongst people is also driving healthy biscuit segment. Availability of different flavors and consumer-oriented advertisement will continue to support the Biscuits Industry in upcoming years. Organic and sugar free biscuits are becoming popular in different age groups. The strategic adoption of companies for promoting their products cross promotional tactics such as celebrity endorsement their product and intelligent marketing through advertisement is also supporting the growth of biscuits market. Hence, the biscuit market is expected to grow at CAGR of 5%.
Global Covid-19 Impact on Biscuits Market which is fortified with fibers are in high demand among health cognizant consumers. In commonwealth countries glucose biscuit is consumed at higher rate. Biscuits is at a higher value and production level than that of other bakery product. APAC is emerging market; major key players have started to invest in this growing region. To target all type of class, brands have launched premium range which are being sold online. Countries like China, India biscuits are consumed as snacks during teatime and breakfast time. India is known to be the second largest manufacturer of biscuits, the first being USA.
Growing and toughening retail network is expected to be the major driving force for the Switzerland and other European biscuits market. Systematized retailing and promotion and effective branding by suppliers are projected to open new market openings for the biscuits industry in Europe. Growing capital investments is the key driver of the retail segment. The existing well-established chocolate market in Switzerland has been supporting for the new product line introduction of biscuits. Increase in number of mergers and acquisitions has resulted in the consolidation of the biscuits market in the Western European region.
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Key Players Review
This report includes a study of strategies, of major Covid-19 Impact on Biscuits Market players. It includes the product portfolios, developments of leading major players such as Cadbury (U.K.), Parle (India), Britannia (India), CEEMEA (U.K.), Nestlé (Switzerland), Burton's Foods Ltd. (U.K.), Lotus Bakeries NV (Belgium), United Biscuits (U.K.), Walkers Shortbread Ltd (U.K.) and Kellogg Co (U.S.)
Regional Analysis
Asia-Pacific region is estimated to dominate the market in the year 2016 followed by North America share. India, China and Australia are major biscuit market in the Asia-Pacific region. Presence of various agro-climatic zones and government support various biscuit production in this region. U.K. and Germany are major biscuit market in the Europe region. Strong potential of biscuit production and consumption cookies biscuit market growth the most among the various regions in the world. Increasing investment by key players like Kraft Foods in South American countries especially in Brazil is influencing the market growth in that particular region.
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NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries.