Spicy biscuits are the spice flavored version of flour based baked biscuits. Spicy biscuits include ingredients that contain sugar, salt and other fortifying additives in smaller amounts. Such baked products are popular in countries that intake spicy food. Changing consumer tastes and preferences and inclination toward consumption of convenience food and beverages has resulted in the rise in demand for spicy biscuits over the years.
Manufacturers are focused on developing new products in order to satisfy the changing consumer tastes and preferences. The global spicy biscuit market has witnessed rapid changes due to factors such as rising preference for spicy flavors, dependence on convenience food, easy availability of products, and awareness about its nutritional benefits.
The global spicy biscuits market has been segmented on the basis of different product types, packaging types, and distribution channel. On the basis of product type, the market has been segmented into all spice mixed biscuit, herb fortified biscuits, and specific spice flavored biscuits. Product Innovation strategy has been adopted by the manufacturers of the global spicy biscuit market.
The global spicy biscuits market is further categorized on the basis of its packaging into pillow pack wrapping, flexible pouch pack, canned pack and other types. Demand for biscuits is showing the fastest growth rate during the forecast period due to the rising awareness regarding health among consumers. The global spicy biscuit market has been further segmented on the basis of distribution channel into online distribution channel and offline distribution channel.
Offline distribution channel has been further segmented into supermarkets and hyper markets, department stores, and convenience stores. Online distribution channel of the global spicy biscuit market is showing the fastest growth rate during forecast period due to convenience and wide range of options.
The global spicy biscuit market is mainly driven by factors such as changing lifestyle and rising consumer awareness regarding proper health and wellbeing. Additionally, rising popularity of convenience food and beverages is resulting in the rising demand for spicy biscuits. However, various substitutes of biscuits available across numerous flavor in spicy biscuits market is the factors restraining the global spicy biscuit market.
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Additionally, stringent laws and regulations regarding the use of ingredients found in spicy biscuits due to their perishability that may cause degradation of the product is restraining the global spicy biscuit market. However, continuous product innovation among key players such as introduction of high fibrous digestive spicy biscuits is expected to offer increased opportunities to the global spicy biscuit market during the forecast period.
In the region wise study, the global spicy biscuit market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America (which comprises the U.S. and Canada) and Europe dominated the global spicy biscuit market and accounts for major share of the spicy biscuit market in ever- changing consumer’s tastes and preferences.
Customers are no longer interested in making snack items at home, and they prefer buying it off the shelves as there's proliferation of choice, packaging and innovation that is helping this category grow. Asia Pacific which includes China, India, Japan, and Australia is likely to show the fastest growth rate during the forecast period due to rising product innovation among manufacturers.
Additionally, multiple distribution channels and rising popularity of biscuits among consumers are also resulting in the rise in growth of the spicy biscuit market in the Asia Pacific region, Africa, and South America.
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Some of the major players in the spicy biscuits market include Bakewell Biscuits Pvt. Ltd., Belvita, Bisk Farm Product, The East India Company Ltd., Monde Nissin Corporation, IFFCO, Parle, Pladis, UNIBIC India Ltd, Surya Food & Agro Ltd., Global Energy Food Industries Pvt. Limited, and Kingzy Biscuits.
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