Report : Asia Pacific Biscuits Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Sweet, Savory, Crackers, Filled, Wafers, and Others); Packaging (Pouches/Packets, Boxes, and Jars); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Country
Fierce competition between leading biscuit producers to drive Asia Pacific biscuits market at a CAGR of 4.8% during 2019–2027
Latest market study on “Asia Pacific Biscuits Market Forecast to 2027 – Covid-19 Impact and Analysis by Type (Sweet, Savory, Crackers, Filled, Wafers, and Others); Packaging (Pouches/Packets, Boxes, and Jars); Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others), and Country”. The Asia Pacific biscuits market is accounted to US$ 24,764.5 Mn in 2018 and is expected to grow at a CAGR of 4.8% during 2019–2027, to account to US$ 37,767.0 Mn by 2027. The report provides understanding on the key driving factors pertaining to the market growth, along with highlighting the prominent players in the market and their developments.
Biscuits are small bread pieces made from a mixture of flour, sugar or salt, and butter or vegetable shortening, with baking powder as a leavening agent. There is a variety of biscuits available in the market, such as sweet biscuits, savory biscuits, digestive biscuits, and filled biscuits, among others. Digestive biscuits are a rich source of fiber and are preferred by the consumers willing to avoid consumption of sugar and fructose corn syrups. Moreover, biscuits in general have rich nutritional profile, including fats, fibers, and carbohydrates. The high nutritional value of biscuits makes them a highly preferred breakfast meal consumed in many regions.
Numerous biscuit products are being introduced by companies operating in various regions. Apart from large-scale production companies dominating the market, local small-scale bakers focused on innovation are also producing delicious biscuit products with authentic recipes. In addition to improving lifestyles, the rising popularity of easy purchase at virtual supermarkets through online shopping, among other new methods of sale, is providing excessive business avenues to biscuit manufacturers. The success of business of the biscuit market players depends on their ability to expand operations in emerging markets, including China, Brazil, India, Russia, Mexico, Argentina, and Ukraine, as well as in the countries in the Middle East and Africa and Southeast Asia. However, several of these countries have high economic, political, and currency volatility, and they exhibit greater liability to infrastructure and labor disruptions than more established markets.. Competition in emerging markets is increasing as competitors of leading players grow their global operations. Moreover, the quality of the packaging of exported biscuit products and appropriateness of the product for the taste of people from different export countries also impact international businesses of biscuit manufacturers. As the biscuit products are not essential goods, attractive ingredients and health benefits or related feature can help the producers win attention of consumers. Additionally, the rising trend of using premium biscuits as a gifting alternative for various occasions, such as Valentine’s Day and Easter, is fuelling the sales of the several luxury and premium biscuits. To address a rising demand for innovative flavors, various companies are offering innovative biscuit products with new flavors.
The recent COVID-19 outbreak first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace worldwide. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are a few of the worst affected countries in terms confirmed cases and reported deaths. The food and beverage industry is one of the major industries suffering serious consequences in the form of supply chain disruptions, technology events cancellations, office shutdowns etc. The lockdown of various plants and factories in various regions in the world, including Asia Pacific, is affecting the supply chains and negatively impacting the manufacturing and delivery schedules, as well as the sales of various goods. Asia Pacific has faced a loss of more than 3 billion people so far due to this pandemic. The consequence and impact is also likely to worsen in the coming months, depending on the spread of the virus. The Government of India is trying to curb the losses of life by announcing lockdowns, which is impacting the revenues of various markets. The Airport Council International (ACI) has warned that extended impact of COVID-19 virus infection would have an adverse effect on the airport’s connectivity and economic stability.
The Asia Pacific biscuits market is concentrated with several very well-established players. A few of the key players in this market include Burton's Biscuit Company, ITC Ltd., Kellogg Company, Lotus Bakeries NV, Mondelez International, Inc., Nestlé S.A., and Britannia Industries Limited.
Asia Pacific Biscuits Market — By Country Breakdown, 2018
The report segments the Asia Pacific biscuits market as follows:
Asia Pacific Biscuits Market, by Type
Asia Pacific Biscuits Market, by Packaging
Asia Pacific Biscuits Market, by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Store
- Online Retail
Asia Pacific Biscuits Market – By Country
- South Korea
- Rest of APAC
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org