Changing consumer taste, growing convenience food demand, and increase in product offering continues to fuel biscuits market in India
Published Date | 2019 March 14
India is the second largest producer of biscuits in the world after the US. Biscuit industry is one of the largest food industries in India instead of volatility in Raw material prices & shift in tax slab due to GST. India is a transitional market as far as biscuit consumption is concerned. The shift in consumption towards bakery products owing to better appeal, taste, and convenience is a significant driver of the market growth. The fast-paced lifestyle and impact of urbanization have increased the demand for crackers and other baked goods.
The consumers are more conscious than ever before and the availability of biscuits with functional ingredients such as wheat, oats, and multi-grains, honey, etc. appeal to health-conscious consumers who choose such biscuits as a healthy snacking option. Furthermore, Rise in the innovation of biscuits product offerings, increasing per capita household income, the surge in consumer spending on food products will lead the market over the forecast period.
Cookies product type is anticipated to be the fastest growing segment in the India biscuits market.
With changing taste preferences of consumers, cookies segment is likely to register the fastest growth rate during the forecast period 2019-2025. Owing to its innovative packaging, new flavors, tastes, shapes, new technologies, and rising health consciousness among consumers. With increasing purchasing power, consumers are readily paying for taste and quality products. In India, there are lots of festivals people celebrate. Gifting options pertaining to high-end cookies is a key trend prevalent in metro cities owing to its longer shelf life as compared to chocolates and sweets.
North India accounts for the largest share of the India biscuits market during the forecast period.
Northern Region accounted for the maximum market share in 2018 and it is projected to dominate the Indian market over the forecast period. Owing to the escalation in product innovations, and high disposable income. Changing consumer taste about baked products and the working population in big cities prefer on-the-go foods will propel the market. With increasing purchasing power, consumers are readily paying for taste and quality products. The arrival of biscuits manufacturing multinationals, modern retail trade, changing urban lifestyles fuelled the growth of the biscuit industry.
India Biscuits Market Competitive Landscape
Companies such as Parle Products Pvt. Ltd., Britannia Industries, ITC Limited, Mondelez India Foods Pvt. Ltd., Surya Food & Agro Ltd., Anmol Biscuits Ltd., SAJ FOOD PRODUCTS (P) LTD, UNIBIC Foods India Pvt. Ltd., Dukes Products India Limited, and Mrs Bector Food Specialities ltd., Patanjali, Dukes, Horlicks, Karachi Bakery are the leading players in the India biscuits market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of India biscuits market size & forecast. The report promises to provide state-of-the-art technology of biscuits and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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