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Cookies and biscuits in India are ingrained in the common man's life, which is not to say the affluent do not enjoy their chunky bites on lazy afternoons. These irresistible snacks have been a staple in Indian households for generations, and their demand has only increased. Further, during the Covid-19 pandemic, the biscuit market remained stable as consumers stacked on long shelf-life items like biscuits.
According to Research and Markets report, the Indian biscuits and cookies market revenue size is estimated to grow at a CAGR of 9.0% between 2021 and 2027. The Mordor Intelligence report highlights that the global biscuits market is projected to register a CAGR of 4.97% over the next five years, from 2023 to 2028. With such an impressive growth rate, it's no wonder that both domestic and international players are vying for a slice of this delectable pie.
Biscuits and Cookies Market in India
With India's vast population and changing consumer preferences, it's no surprise that the country has become a significant player in the global biscuit industry. So, what makes the Indian market for biscuits and cookies so attractive? One factor could be the changing lifestyles of the Indian population, who increasingly seek convenient and healthy snacking options such as nutritious oat and nut-based biscuits. Children love biscuits with different flavors, shapes, and creams.
The rise of eCommerce and online grocery shopping platforms has made it more convenient than ever for consumers to access a wide variety of biscuits and cookies from their homes. It's safe to say that the biscuits and cookies market in India is far from crumbly and is set to be a sweet spot for investors and consumers alike. The dynamics of the biscuit market is primarily influenced by the following factors:
Product innovation in the form of various shapes, new flavors & tastes, and attractive packaging.
Effective pricing and marketing strategy for steady growth
Increasing consumer awareness about health benefits pushes producers to continue transparency in labeling
New formulations with low-calorie, low-fat, low-sugar, gluten-free, low-carb, organic, and high-fiber biscuits are motivating the producers to innovate nutritious biscuits and cookies
Rising urbanization, product premiumization, technological advancements, and high preference for ready-to-eat and food-on-the-go are expected to augment the global biscuits market
Rapidly changing marketing strategies and techniques
The increasing health concerns among consumers have led to a significant rise in demand for healthy and organic snacks, including biscuits and cookies. Many companies have been quick to capitalize on this trend and have introduced a range of healthy and organic biscuits and cookies, further diversifying the market.
The changing lifestyle habits of Indian consumers and the rise in working women have resulted in a surge in demand for packaged snacks, including biscuits and cookies, making it a promising space for entrepreneurs looking to enter the market.
Segment analysis
Based on the type, the biscuits market has been classified as sweet, crackers, and savory biscuits. The Indian biscuits market is highly diverse and offers a wide range of options for consumers, including glucose biscuits, cream biscuits, Marie biscuits, milk biscuits, and many others. Similarly, the Indian cookies market offers various types of cookies like cream cookies, chocolate cookies, digestive cookies, and many more, catering to different consumer preferences. According to data intelligence, the sweet biscuit type had the largest share of the global biscuits market in terms of CAGR in 2019.
The distribution channels for biscuits and cookies in India are highly varied, with supermarkets/hypermarkets, convenience stores, online stores, and many other options. According to data intelligence, Supermarkets/Hypermarkets account for the largest share in terms of CAGR, as these are self-help shops and offer wide varieties. Further, online retail is expected to grow during the forecast period (2022-2029) as it offers good discounts and doorstep delivery.
The biscuit market in India is highly fragmented, with numerous small and medium-sized players dominating the industry, making it an ideal space for new players to enter and establish themselves.
According to Mordor intelligence report, Europe holds a significant market share in biscuits. Among European consumers, the uptrend in the market has been observed for convenient snacking paired with healthy ingredients. Geographically, the market is segmented into North America, South America, Europe, Asia-Pacific, the Middle East, and Africa.
Market Leaders - Competitive landscape
The biscuits market is highly competitive due to numerous players in the market. The key players in the global biscuit market include Parle Products, Britannia Industries, Lotus Bakeries, Mondelez International, ITC, Kraft Foods Group, Want Want China Holdings, Fujian Dali Group, Campbell Soup Company, The Kellogg Company, among others.
In India, key players in the biscuit market include Parle Products, Britannia Industries, ITC, Mondelez India Foods, Surya Food & Agro, Anmol Biscuits, SAJ FOOD PRODUCTS, UNIBIC Foods India, Dukes Products India, Cremica Agro Foods and others.
Top players in the biscuits and cookies market are developing advanced technologies and launching new products to satisfy consumers' taste demands and stay competitive.
Looking ahead
In a highly competitive landscape, businesses must constantly innovate and enhance their products to sustain their market share. The future of India's biscuits and cookies market seems promising, with rising disposable incomes, increasing urbanization, product premiumization, and evolving lifestyles. The trend towards healthier snack options is set to increase, fueled by greater awareness of the importance of balanced nutrition and healthy living.
The Indian biscuits and cookies market offers many opportunities for established players and new entrants. With the right strategies in place, companies can capitalize on this flourishing market and cater to the evolving demands and preferences of Indian consumers. The future looks promising for those who can stay ahead of the curve and quickly adapt to changing market trends.
Biscuits Market Size Share Growth Opportunities and Forecast 2022 (datamintelligence.com)
India Biscuit Market Overview, 2022-28 - Research and Markets
Biscuits Market - Growth, Trends, and Forecasts (2023-2028) (researchandmarkets.com)
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