4 Factors that Drive Biscuit Manufacturers to Bake the Best Biscuits in India
Category Analysis –Biscuits
As per research reports, India biscuit market is projected to grow at a compound annual growth rate (CAGR) of 11.27 % to reach $7.25 billion by 2022. The biscuit industry is driven by the increasing consumption of packaged and convenience foods, the availability of a variety of biscuits and an increase in disposable incomes among and urban and rural Indian population. Demand for high fiber, organic variants, natural flavors, and affordable cost are driving the biscuit makers to introduce diversity of tastes and benefits ranging from health and nutrition to pure indulgence.
The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgement.
The source data used for the analysis are user conversations available publicly online like public forums and social media.
Total number of customer conversations
Top 4 Distinct Factors Driving Biscuits Industry
1. Taste Of Biscuits
Consumers are rapidly evolving in terms of taste preferences towards the variety of biscuits available in the market. No wonder a lot of varieties have taken place such as cookies, cream filled biscuits, nuts and fruits varieties, etc. As per the report compiled by Clootrack based on 6,693 customer conversations, taste stands out as the number one driver for consumers to reach out for biscuits. Customers express their love towards unique taste of biscuits, tea and snack time biscuit taste as well as the same taste maintained by some manufacturers over the years. Market players need to come up with product innovation to enhance the taste of the biscuits to attract and retain their consumers’ interest.
Biscuits in India are available for a price as low as Rs. 5 making it affordable for all sections of the society. Biscuits form a common product irrespective of rich or poor consumers. This is one of the important drivers for consumers of biscuit industry. Biscuits industry will see an exponential growth over the next few years in India and this will be possible due to the value for money, perfect price, and affordable pricing strategies making biscuits more affordable for consumers. Biscuit makers should procure raw materials and labor at a competitive prices in order to keep the cost at bay. Industry should invest in innovation to produce biscuits at an affordable price.
3. Ingredients/Natural Flavors
Biscuits are produced using various combinations of ingredients such as flours, milk, and water, sugar, salt and nuts. With rise in consumer awareness about ingredients and health benefits, consumers are asking for low sugar and low calorie biscuits, pushing manufacturers to enhance nutrition and reduce sugar in biscuits. Consumers are looking forward for healthy ingredients, natural ingredients and nutrition as a combination in biscuits. With increasing consumer demand for nutritious and safe food, biscuit makers should go the extra mile to make biscuits a healthy choice for its consumers. Including healthy ingredients such as oats, millet, whole wheat, multigrain, sugar-free and natural flavors, will further contribute to the biscuit market.
4. Range of Flavors
Biscuits are loved by all age groups as they come in different flavors starting from basic sweet and salt and going all the way up to butter, almond, coconut, multiple flavors, traditional flavors, nutty and chocolate flavor, and much more. Consumers have clearly said in their online conversations that they like biscuits that come in a range of flavors. Biscuit makers should note it and manufacture biscuits from buttery to cheesy, sweet to savory, all the biscuits that consumers want to eat.
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Top 3 Emerging Trends
Biscuit industry in India has seen a consistent growth and is witnessing a boom in market share. The industry is going through phases of innovation which is seen in the form of new packing, attractive flavors, innovative shapes, heightened taste and healthy variants. The industry is undergoing a lot of changes due to the changing taste preferences of consumers. Here are top 3 emerging trends in biscuit industry in India:
1. Healthy And High Fiber Biscuits
With all the health talks doing rounds, it has not spared the biscuit industry. A biscuit that come with nutritional factors such as carbohydrates, fats, and fibers and are essential to human health has emerged as a new trend in the industry. The nutritional value that biscuits offer makes it a highly preferred replacement for breakfast. Health conscious consumers prefer to have low sugar and low calorie biscuits and this is motivating the biscuit manufacturers to develop healthy and high fiber biscuits.
2. Exotic Fruits And Nuts In Biscuits
Consumers seem to say ‘Normal is boring’. The emerging trend in biscuit industry is to have biscuits packed with wholesome exotic fruits and nuts. A variety of fruits and nuts such as apple, bananas, mangoes, hazelnuts, pecans, figs, pears and cranberries and much more have been emerging as a favorite among consumers. Consumers are asking for a little extra crunch from these totally exotic fruits and nuts which are boosted with healthful ingredients that taste even better!
3. Local And Historical Brands
As per a survey, consumers in India prefer local brands the most. Indian brands are able to understand the consumer needs and hence are preferred against global brands. It is observed that local and historical brands are becoming an emerging trend in India. Biscuit manufacturers understand Indian consumers and all about how the consumers consume, where and when he consumes biscuits. This has led to a large acceptance of local biscuits by the Indian consumers.
Which are the emerging biscuit brands in India? What is the overall sentiment as per the online conversations of consumers?
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