The global biscuits and crackers market to reach 157.14 billion USD by 2025, according to a recent market research report by Williams & Marshall Strategy.
In 2015, the global biscuits and crackers market was equal to 93.05 billion USD, calculated in retail prices. By 2025, the market is forecast to reach 157.14 billion USD. Thus, increasing at a compound annual growth rate (CAGR) of 4.56% per year for the period 2020-2025. That is a decrease, compared to the annual growth rate of 6.16%, registered for 2015-2019.
The average consumption per capita reached 18.56 USD in retail prices in 2015. For the next five years, it grew at a CAGR of 3.10%. By 2025, the per capita consumption is forecast to increase at a CAGR of 2.79%.
Overall, the market for most bread and bakery products is projected to continue its positive growth. Consumers are increasingly looking towards healthier options for an improved lifestyle. Therefore, people are expected to want to cut back on the sugar in their baked goods, which will increase demand for savory snacks and baked goods in the next couple of years.
With the continuing shift from sugar-rich snacks, companies that shift their focus away from sugar-heavy categories will see more gains. Specifically, they should aim their attention to crackers and other savory snacks to avoid consumers concerns over excess sugar consumption. According to industry experts, the category of savory biscuits is projected to significantly rise in the medium term, compared to sweet biscuits, whose sales are expected to stagnate in the comin years.
At the same time, however, the sweet baked goods are a category that offers many opportunities for innovation. Bakeries are expected to use more natural sources of sugar in their products or sweeteners like chicory root fiber and corn starch-sourced fiber.
Consumers are increasingly looking towards healthier options for an improved lifestyle. Following this trend, consumers are expected to cut back on sugar-rich confectionery, which will increase demand for savory goods in the next couple of years.
In comparison, the sales of confectionery products are expected to stagnate. Some people have already completely withdrawn sweets from their diets due to the high sugar levels they contain along with other preservatives. Therefore, consumers are expected to substitute consumption of confectionery products with more fruits and nuts. With the continuing shift from sugar heavy categories, companies are also expected to begin offering less-sugar heavy categories such as crackers and savory snacks to counteract concerns over sugar.
Regardless, chocolates and candies are a category that offers opportunities for innovation. Manufacturers are expected to use more natural sources of sugar in their products or sweeteners like stevia, chicory root fiber, and corn starch-sourced fiber. In Europe, companies that use non-digestible carbohydrates as sugar replacers will be able to claim a “lower blood glucose rise”.
The market research report is prepared using Williams and Marshall Strategy’s methodology. It includes a blend of qualitative and quantitative data and insights from market experts, gathered by semi-structured interviews.
The report includes information on the following companies:
- Intersnack Group;
- Mondelēz International;
- Arnott’s Biscuits;
- Bremner Biscuit Company;
- Parle Products Pvt. Ltd;
- Britannia Industries Ltd.;
- United Biscuits;
- Kraft Foods;
- Danone Group;