Savory Biscuits Market Outlook
The Market With rising demand for convenience foods and more globalisation, the market for savoury biscuits is expanding rapidly. Furthermore, in recent years, the leading companies have increased their R&D spending to create new tastes, resulting in a larger market.
Biscuit producers are attempting to invest in new technology that can help them respond to changing customer tastes and boost flexibility in production lines as consumers continue to demand high quality and variety in product ranges.
Acknowledging the exponential growth, the market is observing currently; Market Research Future (MRFR) in its recently published study report asserts that the global savoury biscuit market is expected to create a significant revenue pocket by 2022, registering approximately 3% CAGR between 2016-2022.
Consumers are increasingly becoming health conscious with the well-spread awareness towards organic and low-calorie products which is also driving the demand for high fiber and organic food products. Savory biscuits market fortified with fiber are more popular followed by organic savory biscuits.
Market players are gradually exploring new regional flavors, healthy ingredients such as flaxseed, carom, spinach, etc. to gain the interest in different types of consumers.
Some of the leaders driving the global savoury biscuit market include Britannia (India), Parle (India), The East India Company (UK), Nestlé (Switzerland), CEEMEA (UK), Burton's Foods Ltd. (UK), United Savoury Biscuit (UK), Lotus Bakeries NV (Belgium), Kellogg Co. (US), and Walkers Shortbread Ltd (UK).
Savoury Biscuit Market – Competitive Landscape
The market appears highly competitive and diversified characterized by the presence of several large and small players. To sustain in the market while gaining a competitive edge, these players invest heavily in R&D, global expansion, advanced technologies, and product launches. Players are tapping the growing markets for expansions.
These players ensure innovation and novelties while building up the marketing strategies. This, in return, provides a strong consumer base. Consumers are majorly concerned about ingredients and health benefits and manufacturers are supplying to their demand accordingly. The insistence on low-calorie, sugar-free biscuits is compelling manufacturers in the market to enforce innovation in producing nutritious biscuits keeping the customer demand in mind.
Global Savoury Biscuit Market – Segment
The MRFR analysis is segmented into four key dynamics for the convenience of understanding.
By Types: Comprises Crispbread, Crackers, Baked Bites, Crispbread and Wafer Biscuits.
By Ingredients: Wheat Oats, Millets, Corn, and Mixed Grain among others.
By Savoury Ingredients: Sea Salt, Cheddar Cheese and Herbs and Spices, among others.
By Regions: North America, Europe, APAC, and the Rest-of-the-World.
Global Savoury Biscuit Market – Regional Analysis
The North American region is expected to retain its dominance over the global savoury biscuit market attributing to the burgeoning food and bakery items industry in the region. Also, the upsurge in the popularity of these biscuits is expected to drive market growth in the region.
The market in the Asia Pacific region is emerging as another lucrative market for a savory biscuit. Several major companies are targeting APAC as a potential market for investments in the savory biscuit market due to the potential demand scenario.
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