Switzerland Biscuits Market will Expand at CAGR 1.7% Over the Period Between 2016 and 2024
The biscuits market is a huge market as compared to other packaged food markets. Biscuits contain nutritional components which include carbohydrates, fats, and fibers which are essential to human health. The nutritional value of biscuits has made them a highly preferred breakfast meal worldwide. Biscuits are easy to carry, store, and can be consumed as per preference. These aspects make them a convenient food product which are consumed and enjoyed by people of every age group. Biscuits can be consumed along with beverages like tea and coffee or as it is. Premium quality biscuits contain a rich taste and flavor and are heavily consumed.
The Switzerland biscuits market has been segmented by ingredients, products, and age group type. In terms of ingredients, the market has been segmented into flour, sugar, butter, chocolate, milk, cream, and others. Others ingredients segment includes nuts, salt, flavor agents and vegetable oil among others. Flour is by far the largest segment by ingredients due to its diversified application in preparation of biscuits, whereas chocolate and milk are expected to be fast growing ingredient segments. Flour ingredient segment dominates the market share in terms of revenue as well as volume. In terms of product type, the market has been segmented into: rich tea biscuits, bourbon biscuits, plain biscuits, chocolate coated biscuits, filled biscuits, and others. Others products segment includes speculaas and wafers among others. In terms of revenue, a chocolate coated biscuit is the largest segment by product type; however, bourbon biscuits also hold significant market share owing to the growing popularity of chocolate flavor cream based biscuits.
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In addition, rich tea biscuits are low fat, low calorie, and high fiber snacking alternatives; thus, this segment is expected to become popular among senior Swiss consumers who are conscious about their health. In terms of age group, the biscuits market has been segmented into: 5 – 10 age group, 11 – 19 age group, 20 – 30 age group, 31 – 40 age group, and 41 and above age group. In terms of revenue, 20-30 years age group consumers dominate the Switzerland biscuits market. Whereas, 5-10 age group consumers in Switzerland is expected to be the fastest growing segment over the forecast period. Children of age group 5-10 enjoy cream-filled biscuits and different flavor of wafers. Chocolate coated biscuits, jam filled or cream filled biscuits are very popular among this age group.
Increasing retail outlets and strengthening retail network is anticipated to be the most prominent driver for the Switzerland biscuits market. Organized retailing and marketing and effective branding by vendors is expected to open new market opportunities for the biscuits market in Switzerland. Increasing capital investments is the major driver of the retail sector.
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In this report, detail analysis of major driving factors along with key restraints and opportunities (DROs) of the Switzerland biscuits market are covered. The research study analyzed the ongoing market trends and provides details forecast for the period from 2016 to 2024. In addition, major suppliers and manufacturers in this industry are listed in the scope of the report. Price trend analysis for different product types in this biscuits industry would help the market players to understand the different factors that are influencing on the average unit price of biscuits. Average unit prices of biscuits remained unchanged in 2015 and this is expected to increase marginally over the forecast period. Due to the strong position of the Swiss franc, domestic manufacturers faced a heavy burden not only in exports, but also from the intense price competition by imports from European countries. The increasing number of imported biscuits as well as the strong position of private label products reduced the average unit price in many categories. However, the volatile commodity prices of cereals, cocoa and nuts lifted the prices of other categories, most notably chocolate coated biscuits.