Technavio analysts forecast the global high-fiber biscuit marketto grow at a CAGR of more than 7% during the forecast period, according to their latest report.
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Technavio has published a new report on the global high-fiber biscuit market from 2017-2021. (Graphic: Business Wire)
The research study covers the present scenario and growth prospects of the global high-fiber biscuitmarketfor 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers.
The global biscuit market is growing at a moderate rate owing to factors like rising urbanization, demand for convenience foods, increasing disposable income, and busy lifestyles. As the consumers are becoming increasingly concerned about ingredients and health benefits, many players in the market are emphasizing on factors like low sugar and low-calorie content to develop health and wellness biscuits.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global high-fiber biscuit market:
Consumer demand for optimum nutrition, convenience, and naturalness
The demand for convenient products rich in fiber has increased among consumers owing to the rising interest in health and wellness. Fiber has many health benefits such as it helps the liver to function properly, contributes to the feeling of satisfaction (as foods containing fiber take a long time to chew and are bulkier), and helps to remove toxins, cholesterol, and sugars from the body.
Manjunath Reddy, a lead food research analyst at Technavio, says, "As biscuits are one of the most commonly consumed products, the awareness about the importance of fiber content is increasing. Thus, the overall demand for high-fiber biscuits is increasing on a year-over-year basis as consumers find these biscuits are more natural and free from artificial ingredients
Used as a breakfast biscuits sub-category
Players like belVita and Snyder's-Lance are increasing the appeal of high-fiber biscuits by launching breakfast biscuits that are rich in fibers (like whole grains). Thus, the positioning of these biscuits as breakfast biscuits is attracting more consumers as it is a healthy snack that is a convenient, on-the-go breakfast solution.
"Players are continuously evolving in this category and are coming up with a range of formats and with a variety of nutritional benefits including protein, fruits, and vegetables to address consumer demand for convenient, nutritious breakfast options," adds Manjunath.
Demand for sugar-free high-fiber biscuits
Obesity has become a common issue among the global population. In 2014, almost 26% of the global population was overweight; of this percentage, almost 32% of the people were obese. It has been estimated that by 2030, nearly 74% of men and 64% of women in the UK will be overweight, and nearly 42% of the US population will be obese.
With the increasing obesity rates across the world, most consumers are now buying sugar-free products. The global increase in the number of diabetes cases is also resulting in the consumer shift to sugar-free products, which is reflected in the increasing demand for sugar-free biscuits.
- Mondelez International
- Parle Products
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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