Global Biscuits Market Outlook 2023-2028 According to the latest research report, the global biscuits market size reached US$ 117.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 159.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Global Biscuits Market Trends and Drivers:
The global biscuit market is being primarily driven by the growing awareness among individuals regarding the health benefits of biscuits. Biscuits are a rich source of essential nutrients, including fiber, carbohydrates, and fats, which are increasingly being recognized for their positive impact on overall health and well-being.
Additionally, the market is benefitting from the shifting consumer preferences towards healthy snacking options. Biscuit manufacturers are responding to this trend by introducing various innovative product variants, such as low-calorie, sugar-free, oat-based, nut-based, and high-fiber biscuits, further propelling market growth.
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Key players in the biscuit industry are making significant investments in aggressive promotional activities to expand their customer base and gain a competitive edge. This, coupled with the increasing consumption of bakery products due to hectic lifestyles, rising disposable incomes, and changing dietary habits of individuals, is positively influencing the market growth.
Moreover, rapid urbanization, technological advancements, and easy product availability through online and offline retail channels are some of the other factors creating a favorable market outlook across the globe.