The U.S. biscuits market is expected to reach USD 18.72 billion by 2025, according to a new report by Grand View Research, Inc. Product innovation and mergers & acquisitions are two major strategies undertaken by key companies in the U.S. biscuits market. These are among key factors contributing to market growth as manufacturers are reformulating their products to gain higher margins as well as meet health-orientated consumer demand. For instance, Mondelez’s belVita established a new trend in the adult breakfast biscuit market and gained the title of on-the-go packaging with nutritional credentials. Key players are consistently striving to widen their product portfolio by acquiring players of adjacent market segments. For instance, Turkey’s Yildiz surpassed US cereals maker Kellogg Co. and UK-based Burton’s Biscuits and became the market leader after acquiring United Biscuits in 2014.
Companies have adopted technologically advanced machinery such as robotics to improve their ability to rapidly prototype & launch new brands, introduce automated quality control instrumentation, maintain consistency in workflow, and develop fully integrated networks to automate baking, packaging, & other operations. Key companies track sales in real time using a network of handheld wireless devices and centralized enterprise resource planning systems. Companies are increasingly promoting their brands as free of trans fats, saturated fats, and artificial flavors & sweeteners, and promoting ingredients such as organic wheat flour, cane sugar, rice syrup, and corn starch. Thus, inclination toward low sugar and calorie content is motivating biscuit manufacturers to develop nutritious biscuits, thus presenting significant growth opportunities to the market.
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Further Key Findings From the Report Suggest:
- The organized segment accounted for the largest share of the type segment in 2016 owing to presence of established market players that adopt competitive strategies to restrain the entry of new players
- Crackers attained the dominant share of the products segment in 2016, which can be attributed to unprecedented growth in snacking as well as consumption while engaging in entertainment activities
- Cookies held the second-largest share in the products segment in 2016 owing to their high consumption and preference by all age groups
- In 2016, wheat held a substantial share of the source segment owing to health and nutritional benefits over all-purpose flour
- Millets is anticipated to grow at an exponential rate throughout the forecast period as a result of increase in consumption by diet & weight-conscious consumers
- E-commerce or online stores are anticipated to exhibit exponential CAGR owing to price discounts offered on major products and greater convenience compared to supermarkets or convenience stores