Chocolate Biscuit Market to Witness Tremendous Growth as Food Away from Home Takes Precedence Among Consumers

 The chocolate biscuit market is expected to witness tremendous growth in the near future, thanks to rising demand for food consumed away from home, and growing value for agro-business. According to the United States Department of Agriculture (USDA) projections, the food consumed at home was expected to grow from USD 600 billion in 2008 to nearly USD790 billion in 2018. On the other hand, the food consumed away from home was expected to rise from 550 billion in 2008 to over USD 810 billion in 2018. The increased mobility in the workforce, and growing acceptance of eating out as a social norm will likely present major opportunities for players in the chocolate biscuit market, a food-on-the-go product.

The rising demand for biscuits also remains a major positive for new players in the chocolate biscuits market as costs for biscuits avoid the main barriers to entry usually experienced in food production. For example, according to the USDA, the food service sector like restaurants accounted for 34.9 cents per dollar in 2006. Moreover, the retail trade, the main channel for distribution of biscuits only accounted for 13.7 cents per dollar in the same year. These costs remained fairly consistent over the period of the USDA study between 1993-2008. The low costs of distribution as compared to distribution of other food products remain a major positive for entry for new players in the chocolate biscuits market.

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Market segment by Type, covers

Chocolate Cookies

Chocolate Wafer

Chocolate Sandwich Biscuit

Market segment by Application can be divided into

Online Sale

Offline Sale

The key market players for global Chocolate Biscuit market are listed below:

Pladis Global

Nestle

Mondelez International

Danish Speciality Foods Aps

Mayora

TATAWA

BALOCCO

Ishiya

Ezaki Glico

August Storck KG

Market segment by Region, regional analysis covers

North America (United States, Canada and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Demand for Healthy Biscuits Remains a Promising New Avenue for Growth

The demand for healthy cookies remained highest in the chocolate biscuit market in 2018-20 period. The rising health consciousness among consumers, and willingness to pay more to get healthy foods remained strong drivers for growth in the chocolate biscuit market. For example, the Pepperidge company launched Pepperidge Farm Farmhouse thin and crispy cookies. In January 2019, the Maryland launched sugar-free cookies product offerings. The growing attractiveness of packaging, innovative designs continue to drive robust demand for healthy cookies as millennials continue to show highly conscious health behaviour in key markets of North America region. Various studies project that millennials tend to smoke, and consume alcohol, and cigarettes less, tend to visit the gym more often, and are more health conscious about their personal well-being. The growing product introductions, and increased consumer awareness will likely create new opportunities for growth for players in the chocolate biscuit market.

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