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Market Scenario
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 USD 66 billion by the end of 2024.
The market for savoury biscuit is growing pervasively with the augmenting demand for the convenience food, and the increasing globalization. Furthermore, in recent years the major players are investing heavily in R&D to add new flavors which are subsequently increasing the market size.
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.
Consumers are increasingly becoming health conscious with the well-spread awareness towards the organic and low-calorie products which is also driving the demand for high fiber and organic food product. Savory Biscuits Market Outlook fortified with fiber are more popular followed by organic savoury biscuits.
Market players are gradually exploring new regional flavors, healthy ingredients such as flaxseed, carom, spinach etc. to gain the interest in different type of consumers.
Global Savoury Biscuit Market – Segment
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.
The North American savory biscuits market has further been segmented into the US, Canada, and Mexico.
Key Players
Some of the leaders driving the global savoury biscuit market include Britannia (India), Parle (India), The East India Company (UK), Nestlé (Switzerland), CEEMEA (UK), Burton's Foods Ltd. (UK), United Savoury Biscuit (UK), Lotus Bakeries NV (Belgium), Kellogg Co. (US), and Walkers Shortbread Ltd (UK).
Global Savoury Biscuit Market – Regional Analysis
The North American region is expected to retain its dominance over the global savoury 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 the market growth in the region.
The market in the Asia Pacific region is emerging as another lucrative market for savoury biscuit. Several major companies are targeting APAC as a potential market for investments in the savoury biscuit market due to potential demand scenario.
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Global Savoury Biscuit Market – Competitive Landscape
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 the R&D, global expansion, advanced technologies, and in the product launch. Players are tapping the growing markets for expansions.
These players ensure innovation and novelties while building up the marketing strategies. This, in return, provides a strong consumer base. Consumers are majorly concerned about ingredients and health benefits and manufacturers are supplying to their demand accordingly. The insistence on low-calorie, sugar-free biscuits is compelling manufacturers in the market to enforce innovation in producing the nutritious biscuits keeping the customer demand in mind.
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