- Savory Biscuits fortified with fiber are more popular followed by organic savory biscuits.
- Market players are gradually exploring new regional flavors with healthy ingredients.
- The North American region is expected to retain its dominance over the global savory biscuit market.
- The market in the Asia Pacific region is emerging as another lucrative market for savory biscuits.
The market for savory biscuits is growing pervasively with the augmenting demand for the convenience food, and increasing globalization. The Global Savory Biscuits Market is projected to grow at a significant rate of 5.2% from 2019 to 2024 to reach a market value of $66 billion by the end of 2024.
As consumers continue to demand high quality and variety in product ranges, biscuit manufacturers are striving to invest in new technologies that can help them to respond the changing consumer tastes and increased flexibility in production lines.
In recent years the key players have invested heavily in R&D to add new flavors which are subsequently increasing the market size.
Consumers are increasingly becoming health conscious with the well-spread awareness toward organic and low-calorie products which is also driving the demand for high fiber and organic food products. Savory Biscuits fortified with fiber are more popular followed by organic savory biscuits.
Market players are gradually exploring new regional flavors with healthy ingredients such as flaxseed, carom, spinach etc. to gain the interest in different types of consumers.
The global savory biscuits market has been segmented based category, ingredients, distribution channel, and region.
The global savory biscuits market has been classified, based on category, into gluten-free and conventional.
The global savory biscuits market has been divided, based on ingredients, into wheat, oats, millets, multigrain, and others.
The global savory biscuits market has been analyzed for four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
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The North American savory biscuits market has further been segmented into the US, Canada, and Mexico.
The European savory biscuits have been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe.
Some of the leaders driving the global savory biscuit market include Britannia (India), Parle (India), The East India Company (UK), Nestlé (Switzerland), CEEMEA (UK), Burton’s Foods Ltd. (UK), United Savory Biscuit (UK), Lotus Bakeries NV (Belgium), Kellogg Co. (US), and Walkers Shortbread Ltd (UK).
The North American region is expected to retain its dominance over the global savory biscuit market attributing to the burgeoning food and bakery items industry in the region. Also, the upsurge in the popularity of these biscuits is expected to drive market growth in the region.
The market in the Asia Pacific region is emerging as another lucrative market for savory biscuits. Several major companies are targeting APAC as a potential market for investment in the savory biscuit market due to the potential demand scenario.
The market appears highly competitive and diversified characterized by the presence of several large and small players. To sustain in the market while gaining the competitive edge, these players invest heavily in R&D, global expansion, advanced technologies, and in product launches. Players are tapping the growing markets for expansions.
These players ensure innovation and novelties while expanding marketing strategies. This, in return, provides a strong consumer base. Consumers are primarily concerned about ingredients and health benefits. Manufacturers are catering to their demands accordingly. The insistence on low-calorie, sugar-free biscuits is compelling manufacturers in the market to enforce innovation in producing nutritious biscuits to meet customers’ expectations.