Savoury Biscuits Market Size, Share | Growth 2032
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Savoury Biscuits Market Overview
The global savoury biscuits market is set to witness substantial growth from 2024 to 2032, driven by increasing consumer demand for healthier snacking options. These biscuits, known for their balanced flavors and varied ingredients, offer an alternative to traditional sweet biscuits, catering to health-conscious consumers. With a wide range of flavors, including herb, cheese, and spice-infused varieties, savoury biscuits appeal to a broad audience. Their rising popularity is further supported by the growing trend of convenient, on-the-go snacks that satisfy both taste and nutrition needs.
Savoury Biscuits Market Size
As of 2023, the global savoury biscuits market was valued at approximately USD 4.1 billion. With a projected Compound Annual Growth Rate (CAGR) of 5.90% during the forecast period of 2024-2032, the market is expected to reach around USD 6.9 billion by 2032. The growth in market size is attributed to increasing consumer awareness of healthy snacking options, the introduction of innovative product flavors, and the expansion of distribution channels, particularly in emerging markets.
Savoury Biscuits Market Share
In 2023, Europe held the largest market share in the global savoury biscuits market, followed by North America and the Asia-Pacific region. The dominance of European countries is driven by the strong presence of established brands and high consumer preference for savoury snacks. North America is also a significant contributor, with a growing trend towards healthier snacking. The Asia-Pacific region is expected to witness the fastest growth, attributed to increasing disposable incomes, urbanization, and a shift in dietary preferences towards convenient and nutritious snacks.
Savoury Biscuits Market Trends
The savoury biscuits market is experiencing several key trends that are shaping its future. First, there is a growing demand for gluten-free and plant-based savoury biscuits, driven by increasing health awareness and dietary restrictions. Second, manufacturers are focusing on clean-label products, emphasizing natural ingredients and minimal processing. Third, the trend of premiumization is rising, with consumers willing to pay more for high-quality, artisanal biscuits. Lastly, innovative packaging solutions, such as resealable and portion-controlled packs, are gaining popularity as they cater to the need for convenience and freshness.
Savoury Biscuits Market Analysis
The savoury biscuits market is poised for significant growth due to various factors. The increasing demand for healthy snacks, particularly among millennials and health-conscious consumers, is a primary driver. These consumers prefer snacks that are not only tasty but also offer nutritional benefits, leading to the popularity of savoury biscuits made from whole grains, seeds, and legumes. Additionally, the rise in working populations globally has boosted the demand for convenient and on-the-go snacks, further driving market growth.
Moreover, the expansion of e-commerce platforms has provided manufacturers with new avenues to reach consumers, particularly in emerging markets where traditional retail infrastructure may be less developed. However, the market faces challenges such as the high cost of raw materials, particularly for premium and organic ingredients, and the need for constant innovation to meet changing consumer preferences. Despite these challenges, the market is expected to continue its upward trajectory, driven by innovation and expanding distribution networks.
Savoury Biscuits Market Segmentation
The savoury biscuits market can be segmented based on the following criteria:
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Type of Ingredient:
- Whole Wheat
- Multi-Grain
- Legumes
- Others
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Flavor:
- Cheese
- Herbs & Spices
- Plain/Original
- Mixed/Composite
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Packaging:
- Boxes
- Pouches
- Tins
- Others
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Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
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Geography:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Each of these segments plays a critical role in determining the overall market dynamics, with variations in consumer preferences and purchasing behaviors across different regions and demographics.
Savoury Biscuits Market Growth
The savoury biscuits market is projected to grow at a robust CAGR of 5.90% during the forecast period from 2024 to 2032. This growth is driven by several factors, including the increasing popularity of healthy snacks, the rise in disposable incomes, and the expansion of modern retail formats. Additionally, the market is benefiting from the growing trend of product innovation, where manufacturers are introducing new flavors, healthier ingredients, and innovative packaging to attract a broader consumer base. As a result, the savoury biscuits market is expected to see significant expansion in both developed and emerging markets.
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Recent Developments and Challenges in the Savoury Biscuits Market
Recent Developments:
- Product Innovation: Major players in the market are focusing on introducing new flavors and healthier options, such as gluten-free and low-sodium biscuits, to cater to the growing health-conscious consumer base.
- Sustainability Initiatives: Companies are increasingly adopting sustainable practices, such as using eco-friendly packaging and sourcing ingredients from sustainable farms, to appeal to environmentally conscious consumers.
- Strategic Partnerships and Acquisitions: Key players are engaging in mergers, acquisitions, and partnerships to expand their product portfolios and geographic reach, enhancing their market presence.
Challenges:
- Raw Material Costs: The rising cost of raw materials, particularly organic and premium ingredients, poses a challenge to manufacturers in maintaining competitive pricing while ensuring product quality.
- Intense Competition: The savoury biscuits market is highly competitive, with numerous established players and new entrants vying for market share. This competition leads to continuous pressure on pricing and innovation.
- Changing Consumer Preferences: Keeping up with rapidly changing consumer preferences, such as the growing demand for plant-based and allergen-free products, requires constant innovation and adaptation from manufacturers.
Key Players in the Savoury Biscuits Market
The global savoury biscuits market is characterized by the presence of several key players who have established strong brand identities and extensive distribution networks. These companies are focusing on innovation, sustainability, and expanding their product portfolios to maintain and grow their market share. Some of the key players in the market include:
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Nestle S.A.: A global leader in the food and beverage industry, Nestle has a strong presence in the savoury biscuits market with its wide range of products catering to different consumer segments.
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Kellogg Company: Known for its breakfast cereals, Kellogg also offers a variety of savoury biscuits under its different brands, focusing on health and wellness-oriented products.
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Britannia Industries Limited: A major player in the Indian market, Britannia has a significant share in the savoury biscuits segment with its popular brands and extensive distribution network.
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ITC Limited: Another key player in India, ITC’s savoury biscuits are known for their quality and taste, catering to a broad consumer base.
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Parle Products Private Ltd. (PPPL): Parle is a well-known name in the Indian market, offering a variety of savoury biscuits that are popular across different age groups.
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Kambley SA: A European brand, Kambley is recognized for its premium savoury biscuits, which are made using high-quality ingredients and traditional recipes.
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Lotus Bakeries NV: Based in Belgium, Lotus Bakeries is known for its innovative products and strong brand presence in the savoury biscuits market, particularly in Europe.
These key players are expected to continue dominating the market, driven by their strong brand equity, continuous product innovation, and expansive distribution networks.