Asia Pacific Biscuits Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type; Packaging; Distribution Channel, and Country

The Asia Pacific biscuits market is accounted to US$ 24,764.5 Mn in 2018 and is expected to grow at a CAGR of 3.6% during 2019-2027, to account to US$ 37,767.0 Mn by 2027.

Biscuits are small bread pieces made from a mixture of flour, sugar or salt, and butter or vegetable shortening, with baking powder as a leavening agent. A variety of biscuits - such as sweet biscuits, savory biscuits, digestive biscuits, and filled biscuits - are available in the market. Digestive biscuits are a rich source of fiber and are preferred by the consumers willing to cut down on excess consumption of sugar and fructose corn syrups. Biscuits comprise many nutritional factors such as fats, fibers, and carbohydrates that are essential to human health. Moreover, since food-on-the-go is the most recent trend among consumers and is one of the fundamental considerations for consumers while purchasing food products, it has become a lucrative factor for fuelling the biscuits market growth. However, biscuits are produced and packed to exhibit long shelf lives. It has been a preferred snack by a wide portion of population. Biscuits are easily available at different retail channels such as supermarkets and hypermarkets, convenience store, and online retail. Among these, supermarkets and hypermarkets are gaining greater popularity in APAC. Moreover, the increased use of mobile phones, computers, and laptops has been supporting the growth of online retail.,.

The Asia Pacific biscuits market is segmented based on type as Sweet, savory, crackers, filled, wafers, and others. The sweet segment holds the largest share in the Asia Pacific biscuits market, while the filled segment is estimated to garner the fastest-growing segment. . Sweet biscuits are perfect for breakfasts and can be consumed anytime. A sweet biscuit can be turned to dessert by slicing them or by adding whipped cream, strawberries, peanut butter, or jam. The growing preference for convenient snacking, together with easier accessibility of consumers through the advancing retail sector, is favoring the demand for sweet biscuits. The main consumers for savory biscuits are older adults that do not prefer sweet products. Crackers reduce the risk of chronic diseases and help in weight loss as they are made from whole grains. They are also characterized by low fat and sugar levels. Filled or coated biscuits contain different fat and calorie content depending upon the type of fillings or coatings applied. Wafers contain crude fiber content that helps cleaning the human body and promote digestion. Customers prefer wafers as they are light in weight and easy to carry. The others segment of the Asia Pacific biscuits market includes rolled biscuits, drop biscuits, scones, and shortcakes. Rolled biscuits are one of the most popular biscuits. Scones are made using wheat or oatmeal, along with baking powder, and they control the blood sugar level in the body and provide other health benefits.

The Asia Pacific biscuits market is segmented has been further segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China holds the largest share of the Asia Pacific biscuits market, and the market in India is expected to grow at the fastest CAGR during the forecast period. A variety of biscuits products such as sweet biscuits, crackers, filled/coated, wafers, and savory biscuits are popular among the consumers in Australia. Innovation in the packaging of products is also projected to attract new consumers toward the products. Different type of biscuits such as sweet and savory biscuits are consumed as snacks in this region; In many of the Asia Pacific countries, biscuits are also served as breakfast in the morning. They are also chosen as a decent gift for friends. Earlier, biscuits in India were made by using ordinary wheat flour, sugar, and saturated oil in industrial processes involving the mixing of ingredients, molding, baking, and cooling. The current commercial biscuit biscuits production in the country involves modern methods of production. The demand for savory biscuits in Japan is projected to grow during the forecast period, as the biscuit manufacturers in the country are focusing on health-oriented and functional products. Low-carbohydrate and fat-free biscuits enhanced with soy powder and bran powder have also become popular among the consumers in Japan. An increase in the average expenditure of South Koreans upon their household and food is expected to contribute to the growth of the market in this country. The growing influence of social media and the internet on the lives of the people has propelled the demand for premium and organic biscuits products in South Korea. Rest of APAC includes Taiwan, Singapore, Malaysia, Indonesia, Bhutan, and Bangladesh. The biscuits market in these countries has made significant progress in the past few years owing to the rising population and increased per capita income. Moreover, surging demand for convenience food due to rising purchasing power among the consumers is further boosting the growth of the biscuits market in the rest of APAC countries.

A few of the players operating in the Asia Pacific biscuits market are Burton's Biscuit Company, ITC Ltd., Kellogg Company, Lotus Bakeries NV, Mondelez International, Inc., Nestlé S.A., Britannia Industries Limited.

The recent COVID-19 outbreak, which first began in Wuhan (China) in December 2019, has spread at a fast pace all over the world. As of March 2020, China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US are among the worst affected countries in terms confirmed cases and reported deaths. The food and beverage industry is one of the major industries suffering serious supply chain disruptions, technology events cancellations, office shutdowns, etc., as a result of this outbreak. The lockdown of various plants and factories in prime locations in Asia Pacific is affecting supply chains and negatively impacting the manufacturing and delivery schedules, as well as the sales of various goods. The COVID-19 is anticipated to cause a loss of more than 3 billion lives in this region in the time to come. The consequences are likely to worsen depending on the spread of the coronavirus variant. The governments of Asia Pacific countries are taking all possible steps to reduce the effects the viral transmission by enforcing lockdowns, which is ultimately impacting their revenue generation. The Airports Council International (ACI) Asia Pacific warned that the prolonged duration of the covid-19 outbreak would drastically impact the region's airports' connectivity and economic sustainability, significantly restricting them from achieving the already estimated growth prospects. Until now, China has the highest number of COVID-19 confirmed cases and mortalities in this region

The overall APAC biscuits market size has been derived in accordance to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC biscuits market.

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