Biscuit, a small baked product caters to a big segment of customers all around the globe. Growing awareness for health and well-being has pushed the consumers to adopt a natural diet and therefore a healthy biscuit options came through as both a convenient and nutritious choice.
The modern populace shows a lack of cooking skills and a great level of technology literacy. Hence, modern customers go for effortlessly available healthy snacks in the market, such as protein biscuits, multi-grain biscuits, and so on. This is attributed to the latest trend of “Food-on-the-go” and is the central concern for customers while buying food products.
The healthy biscuit market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, distribution channel, and region. Among type segmentation, the functional and digestive biscuits segment is expected to hold the largest market share during the forecast period. The segment growth is predominantly attributed to the high demand for healthy snack stuff having a great source of dietary fibers. These biscuits are prepared for diverse nutrition-rich ingredients such as oats, wheat, and multi-grains. Among distribution channel segmentation, supermarkets/hypermarkets segment held the largest share owing to greater accessibility, a wide variety of products allows customers to compare and decide for the best, and physical display of products permits customers to examine product details. The online segment is expected to grow at a fast pace on account of ease it provides to the customers while shopping.
Consumers are shifting to natural food products owing to growing awareness about wellbeing, and increasing incidences of obesity and other lifestyle diseases. Besides, companies are implementing novel promotional strategies such as TV campaigns to spread awareness about their healthy products. CLICK TO DOWNLOAD SAMPLE REPORT
Additionally, an increase in per capita consumption in emerging economies, increase of supermarkets and hypermarkets has led to the increased prominence of the healthy biscuits offered in the market.
High raw material costs and a rising tax weight on the industry might hamper the healthy biscuit market growth in the near future.
Our in-depth analysis of the healthy biscuit market includes the following segments:
Geographically, the healthy biscuit market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The Asia-Pacific region held the major share in the global healthy biscuit market, followed by Europe and North America.
The Asia-Pacific is estimated to grow at the fastest pace led by China and India, throughout the forecast period. Impelling demand for convenient and healthy snack products is expected to be the main element driving the market in this region. India is projected to observe significant progress in this category. The digestive biscuits market in India is majorly led by the Britannia Nutrichoice range. Some other prominent players operating in this category consist of Parle NutiCrunch, McVities, and Tiffany.
The growing urbanization in South America and Asia-Pacific generates a further room for growth due to the variation in demographics and high disposable income.
The healthy biscuit market is further classified based on region as follows:
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