Description
The Biscuits Manufacturing Industry in India is one of the largest industries in the food processing sector.  The specialty in its industry lies in its product varieties, and prices. Mostly it prepares biscuits for all kinds of people concerning their ages. Basically, the industry exports its products and utilizes them for domestic consumption. It is made a vital participant in India’s economic landscape. Moreover, the changes to consumer preferences towards health and income differences are expected to rise growth in 2024. This report aims to conduct market research on the Indian biscuits manufacturing industry in brief. It is possible by analyzing the market growth, size, market drivers, challenges, customer trends, and competitive landscape.
In 2023, USD 5.4 billion is the revenue of Indian biscuit market. Analysis anticipates that market will expand at CAGR of 8-10%Â from 2024 to 2028. As a result of volume, India is second largest producer of biscuits where people in semi-urban and metropolitan areas consume more quantities. For instance, the market trades this product internally in 120 countries and exports nearly 10-12% of production. At present time, countries like Southeast Asia, Africa, and the Middle East are the key marketing areas for the Indian biscuits market. Â The essential market segments are product type, packaging type, distribution channel, and consumer group. Presently, government policies, innovative offerings, rural market penetration, changes in lifestyle, and trends in wellness and health are the market drivers.
Although it served as the leading market, it faced challenges in various areas such as distribution and logistics, health concerns, competition, and increasing costs of raw materials. The biscuit manufacturing sector demands markets from Cremica, Unibic Foods, ITC, Parle products, and Britannia industries. These markets are competing for better outcomes that straightaway lead to an increase in the biscuit market. Hence, utilizing digital marketing, expanding rural distribution, and introducing healthy choices would be helpful to enhance the market. Consumer trends might occasionally vary towards regional flavors, sustainability, premiumization, and health-focused consumption. Therefore, providing health products along with planning efficient marketing strategies is useful to increase the biscuit industry’s growth in 2024.
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