In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
May 1, 2020:Mondelēz Global LLC proclaimed today a voluntary recall of a limited quantity of RITZ Cheese Cracker Sandwiches Family Size as the exterior packaging shows that the product is Cheese variety, whereas the individually-wrapped product enclosed in the package is Peanut Butter variety.
April 2020:Gaia, whose parent company is Cosmic Nutracos Solutions Private Limited, has rolled out doorstep delivery services for its vast range of health food and nutritional supplements, pan India, amidst Coronavirus lockdown.
February 20, 2020:Pladis, the brand behind McVitie’s, reduced sugar in nine of their biscuits by up to 10% and salt by 5%, without compromising on taste.
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: