Market Overview:
There are many kinds of savoury biscuits that are produced around the world which are customized as per the taste of different regions around the world. Savoury biscuits are usually salty and are referred to as crackers. These biscuits are savoury flavored and may be hard or crispy. The most commonly recognized form of savoury biscuits are cheddar crackers. These biscuits have originated from simple bread type products.
These biscuits have a massive consumer base in each section of the demographic. Since savoury biscuits are served to a large consumer base they are also duly customized in certain forms such as Graham cracker, Cream cracker, Saltine cracker, Matzo, Oyster crackers to name a few. Since savoury biscuits are convenience packaged food which are also travel friendly and can be consumed in various ways, a lot of customers buy these in bulk. The savoury biscuits are also not very high priced items and hence appeal to the masses. The reason behind this upward tick in savoury biscuits demand worldwide is due to intensive promotional activities, distribution and marketing carried out by various manufacturers. Another contributing factor that has driven demand in this segment is the emergence of coffee or tea culture coupled with the increase in the number of coffee and tea drinkers. As these biscuits are considered the ideal accompaniment to either tea or coffee, the growth of the savoury biscuit market has partially grown in conjunction with them.
Other factors that are driving demand for savoury biscuits is the fact they are a perfect substitute for chips and baked products and are usually considered a healthier option. Easy availability of raw materials and low costs have further helped manufacturers to consider heavy expansion in the segment. Rapid urbanization, High demand for convenience foods, high density of supermarkets are a few of the other elements behind the growth of this market. Due to high levels of competition and increased taxation the expansion of the global savoury biscuits will be restricted.
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31 October, 2017 Mondelez (US) announced a rise in earnings up to 81% in third quarter beating Wall Street’s profit and revenue estimates in the third quarter.
3rd November, 2017 Parle is planning to increase its share from 25 percent to 30 percent in the next one year
6th November, 2017 ITC is planning to invest Rs 10,000 crores in setting up food processing facilities across India. The primary aim of this expansion is to expand their food portfolio with a special focus on the biscuit segment.
Competitive Analysis
With the entry of industry players in the APAC region for the global savory biscuit market segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and innovative products in the segment. With companies aiming to expand their share of the market segment as much as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. With a positive trend observed due to increase in interest from the consumer end, the market size has also grown which allows introduction of novel products in this segment.
Increased investment in manufacturing facilities by companies and availability of cheap labor this segment has laid a course for tremendous growth potential in the future.
The key players profiled in the savoury biscuit market are as Parle (India), Britannia (India) in the Asia Pacific region while The East India Company (U.K.), CEEMEA (U.K.), Nestlé (Switzerland), Burton’s Foods Ltd. (U.K.), Lotus Bakeries NV (Belgium), United Savoury Biscuit (U.K.), Walkers Shortbread Ltd (U.K.) and Kellogg Co (U.S.) are some of the companies covered in the European & North American Market according to the report published by MRFR.
Market Segments:
Savoury biscuit market has been segmented into categories so as to enable better understanding of the segment:
On The Basis Of Major Ingredient: Wheat Oats, Millets, Corn, and Mixed Grain.
On the basis of Type: Crackers, Baked Bites, Crispbread and Wafer Biscuits.
On the basis of Savoury Ingredients: Sea Salt, Cheddar Cheese, Herbs and Spices.
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Regional Analysis:
North America and APAC accounted for higher market share in the savoury biscuit during the period 2011-2015, with a massively high market value, the segment is expected to grow exceptionally by 2022. Major companies are targeting APAC as potential region for investments in the savoury biscuit market due to potential demand scenario.
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