Biscuits comprise nutritional factors such as carbohydrates, fats, and fibers which are essential to human health. The nutritional value of biscuits makes them a highly preferred breakfast meal worldwide. Characteristically, biscuits being easy to carry, store, can be consumed as per choice. Every person of each age group can enjoy biscuits as the convenient food product. Biscuits can be consumed along with beverages like tea and coffee or as it is. Therefore, premium quality biscuits contain a rich taste and flavor and are heavily consumed.
The market share for biscuits seems to be booming and witness a consistent growth. The worldwide dynamics for biscuit market share seems to get influenced by product innovation in form of new flavors, shapes, taste and attractive packaging. Market players are keen on creating effective marketing and pricing strategies on the sale of biscuits. With rise in consumer awareness about ingredients and health benefits, manufacturers seem to maintain transparency in labeling. Low sugar and low calorie content is motivating the biscuit manufacturers to develop nutritious and low sugar biscuits.
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Market drivers boosting the growth of global biscuits market share are rapid urbanization, growth in disposable income, and leading sedentary lifestyles. The market witnesses the penetration of supermarkets and malls which has led to an overall visibility of various biscuitswith different tastes and shapes. Television ads, additionallyhave become the promotional strategies as a part of marketing. Marketing techniques and strategies are also helping in the market growth. Hence, biscuitmanufacturers are constantly trying novel ideas and combinations encouraging consumer’s interest. However, heavy competition andhigh costs of raw materialsare likely to hinder the market growth.
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