Biscuits Market Trends

Navigating the Biscuits Market Landscape

The Biscuits Market, as we enter 2024, is experiencing considerable changes, driven by a confluence of macroeconomic factors such as technological advances, evolving regulatory frameworks, and changing consumer preferences. In terms of product quality and variety, innovation in production processes and sourcing of raw materials is enhancing the quality of the products. Moreover, regulatory pressures are driving manufacturers to offer biscuits that are health-conscious and eco-friendly. The rising demand for convenience and transparency is also pushing the demand for healthy, ethically produced biscuits. These trends are of strategic importance to the industry, as they not only affect product development and marketing strategies but also influence the competitive landscape.

Top Trends

1. Health-Conscious Formulations
   As a result of the growing concern about the health of consumers, companies are reformulating biscuits to include wholemeal flour, less sugar and more nutrients. For example, major brands are launching gluten-free and high-protein products to cater for dietary restrictions. According to a survey conducted by the industry, 45 per cent of consumers are actively looking for healthier snacking alternatives. This trend is driving innovation, which could result in a greater variety of health-conscious products in the future.
2. Sustainable Packaging Initiatives
   The biscuits market is undergoing a change, prompted by the growing importance of the environment. Leading companies are using biodegradable and/or recyclable materials in response to consumers’ demand for eco-friendly products. A recent survey showed that more than 70 per cent of consumers prefer brands that focus on the environment. This trend is likely to affect supply-chain practices and may lead to increased operating costs, but it will also strengthen brand loyalty.
3. Plant-Based and Vegan Options
   The rise of plant-based diets is influencing the biscuit industry to offer more products suited to a vegetarian diet. These products are based on chickpea flour and almond milk. Data show that the market for plant-based food is growing rapidly and that a significant number of consumers are flexitarians. This trend could lead to a greater diversification of products and more competition between brands.
4. Global Flavor Innovations
   The biscuits are increasingly sought after for their original and exotic flavours, and the brands are responding by experimenting with the international cuisines. For example, the flavours inspired by the Asian and Latin American cuisines are becoming more and more popular. Market research shows that about 60 per cent of consumers are willing to try new flavours. This trend encourages the brands to experiment and could lead to limited editions and collaborations with chefs.
5. Digital and E-commerce Expansion
   The shift to e-commerce is reshaping the biscuit market, and brands are stepping up their digital presence and e-commerce strategies. Companies are investing in direct-to-consumer platforms and forming alliances with e-tailers. Sales of groceries are booming, and snack sales have risen significantly. This trend will have an impact on logistics and customer relations.
6. Functional Biscuits for Wellness
   The demand for biscuits with a health-promoting function is growing. Biscuits that provide digestive or immune support are in demand. Probiotics and superfoods are incorporated into the products. According to research, five out of every six consumers are interested in these health-promoting biscuits. This trend will result in an increase in R&D investment and a shift in marketing strategy towards highlighting the health benefits of the biscuits.
7. Personalization and Customization
   Customised snacks are in demand, which is why more and more companies are offering biscuits that can be personalised. This trend is facilitated by the technological developments that have made it possible to have the flavours and ingredients of the biscuits changed to suit the customer. Surveys show that about 40% of consumers prefer a personalised product. It is possible that this trend will lead to new business models and to a greater focus on engaging consumers through interactive platforms.
8. Increased Focus on Clean Labels
   The clean label movement is gaining momentum, with consumers demanding transparency in sourcing and production processes. Brands are responding by removing artificial additives and promoting natural ingredients. It is estimated that 65% of consumers are more likely to buy products with clean labels. This trend may result in more stringent regulations and a change in sourcing practices for manufacturers.
9. Snackification Trend
   SNACKIFICATION is changing the pattern of meals, with biscuits and other snacks replacing main meals. It is especially marked among younger people in the quest for convenience. According to research, about half of consumers snack several times a day. Brands are therefore looking at ways to position biscuits as convenient snacks, which may lead to new marketing strategies and product formats.
10. Collaborations and Co-branding
    Brands of biscuits are now often collaborating with other food companies, resulting in unique products. Brands of ice cream and coffee are for example collaborating with brands of biscuits, resulting in hybrid products. According to market research, such products can increase consumers’ interest by up to 30 per cent. This trend may result in the emergence of new products and the gaining of new markets.

Conclusion: Navigating the Competitive Biscuit Landscape

The biscuits market in 2024 will be characterised by a high degree of competition and considerable fragmentation, with both established and new players vying for the attention of consumers. There will be a growing trend towards health-conscious and sustainable products, which will force manufacturers to adapt their product ranges accordingly. Meanwhile, the major players will continue to use their established market position to take advantage of automation and artificial intelligence to improve their operational efficiency and enhance their engagement with consumers. New players will continue to exploit the flexibility and sustainability of their business models to carve out niches for themselves. As the market evolves, the ability to take advantage of artificial intelligence, automation and flexibility will be a key factor in determining the market leader. As a result, all manufacturers will have to rethink their strategies to ensure their continued relevance and growth in this dynamic market.