Market Scenario:
Savoury biscuits developed out of cracker and are thin, unsweetened and crispy wafer or biscuits prepared from unsweetened dough. Savoury biscuits are usually served with cheese or jam toppings and contains supplementary ingredients for inducing flavor or texture. The global market for savoury biscuit is anticipated to generate a growth of more than 3% during the forecast period of 2016 to 2022.
Market Dynamics:
Drivers
Psychographic factors such as behavior and cultural changes induced by globalisations, increasing awareness about health and nutrition, consumerism, demand for unsweetened snacks and biscuits, influence of the media and others are gaining more weight in the selection of snacks. Packaging is all set to transform the industry which coupled with the availability of variety of toppings has only heightened the sensations of the taste buds! Growing popularity of convenience foods, growing retail and convenience stores, development of efficient supply chain, creative marketing strategies, growing per capita income, and others are also charging the market.
Product advantages of biscuits such as being less perishable, more portable, coupled with the developments of attractive and appealing ingredients such as chocolate, peanuts, designer flavors, sweeteners, preservatives and others have added to the growth of the market. Advent of mass communication and entertainment has made snacks a deliberate and purposeful consumption occasion from what was an occasional, and impulsive, in-between munch!
Commercial drivers of the market are development of global supply chains, booming retail sector, efficient demographic shift especially the growing children population, and others.
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Restraints:
The falling returns on investments due to large fragmentation of the market has put pressure on pricing. Concerns over uses of high concentration of preservatives, flavors, competition from low cost unhygienic street vending, and others are other factors hampering the market.
Major Key Players:
The prominent players profiled in the savoury biscuit market report are United Savoury Biscuit (U.K.), Parle (India), The East India Company (U.K.), Nestlé (Switzerland), CEEMEA (U.K.), Walkers Shortbread Ltd (U.K.) Britannia (India), Burton’s Foods Ltd. (U.K.), Lotus Bakeries NV (Belgium), Kellogg Co (U.S.) and others.
Industry Segments:
The Savoury Biscuit Market has been segmented on the basis of major Ingredient, type, savoury Ingredients, and regions so as to generate an accurate assessment of the market potential.
Major Ingredient – wheat oats, millets, corn, and mixed grain.
Type – crispbread, crackers, baked bites, crispbread and wafer biscuits.
Savoury Ingredients – sea salt, cheddar cheese and herbs and spices.
Regions – North America, Europe, Asia Pacific, Middle East and Africa.
Regional Analysis:
North American region led by the U.S. possess the largest market share owing to large packaged foods industry, large per capita income, growing awareness, sedentary lifestyles and others. North America is and Europe have large megastores chains such as Walmart and others which are benefiting the market Europe is led by Germany, France and the U.K. U.S., Netherlands, Germany, Thailand and China are the top 5 exporters of snacks. Europe also possess the largest traditional bakery market led by Switzerland, Germany, France, Poland, and others. Argentina, Mexico, Chile and other are expected to dominate the Latin American regions market. Thailand, Ireland, Germany, Sweden, U.K. and Italy are top 5 exporters of savoury biscuits.
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Asia-pacific is estimated to be the fastest growing market led by China, India, Japan, Australia and others owing to presence of large variety of agriculture foods due to their tropical climate. Turkey represents another market opportunity owing to its tradition of dry fruits and bakery.
The Middle East and Africa market is expected to be skewed in favor of the Gulf economies of Saudi Arabia, Kuwait, UAE and others. African market is expected to generate a moderate growth owing to poor economic conditions and competition from raw natural foods.
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