As per research reports, Indian biscuit market is projected to grow at a compound annual growth rate (CAGR) of 11.27% to reach $7.25 billion by 2022. 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 income among 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. In this report, we bring deep insights into the biscuit industry, covering the customer perception drivers, must-have features, brand equity, and many more interesting aspects.
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 judgment. The source data used for the analysis are user conversations available publicly online like public forums and social media.
India is the world’s largest biscuit-consuming nation with great penetration in urban as well as rural areas. The Indian biscuit industry is driven by many growth factors that will result in considerable growth in the biscuit industry. Below listed are the major factors contributing to the growth of the Indian biscuit market:
Brand managers and marketers should look through the eyes of the customers to see how they experience brands in the real world. Marketers are no more limited to just nice words and advertising – it has evolved into knowing customer perceptions. It is important to know how customers really feel about their brands and what are the drivers of brand loyalty.
Customer perception plays a major role in buying behavior. Hence companies are going the extra mile to create a pleasant and happy customer experience. Companies are ready to spend money and effort to influence customer perception and drive profitable consumer behavior.
We, at Clootrack capture every experience that customers have with their brands. We analyze thousands of customer experiences to capture what people feel about a brand, and in turn derive priceless insights into products and competition.
Clootrack went beyond just social platforms to track discussions – online forums, social media groups, internal data such as customer care tickets, chatbot extracts, emails, and any other internal maintained forums. And all this is to understand customer perception – what your customers and prospects think of your brand – to analyze the perception drivers for biscuit brands.
Here we explore the evolving biscuit industry landscape and the top customer perception drivers, delight drivers, and brand equity.
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 for the unique taste of biscuits, tea, and snack time biscuits taste as well as the same taste maintained by some manufacturers over the years. Market players need to come up with product innovations 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 them affordable for all sections of society. Biscuits form a common product irrespective of rich or poor consumers. This is one of the important drivers for consumers of the biscuit industry. The biscuits industry will see 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 price in order to keep the cost at bay. The industry should invest in innovation to produce biscuits at an affordable price.
With the 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 to 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.
Customers of all age groups love biscuits as they come in different flavors starting from basic sweet and salt. There are more variations 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.
Brand equity is the value that a customer attaches to a particular brand due to the customer perception and the customer experiences with the brand. A positive experience will generate positive brand equity, while dissatisfying experience will result in negative brand equity. When a brand does not understand its brand equity, it can struggle to set up metrics for improvement. At the same time, it is important to know your competitors’ brand equity as it has a direct influence on your company’s brand equity. Brand equity reveals areas where your competitors are doing extremely well or areas where they not providing value to their customers.
Download the detailed report for free to get to know the brand names in the below chart. The detailed report also covers a list of features that delight users and several other interesting insights. Enter your email below to get this report for FREE.
Download the detailed report for free to get to know the brand names in the above chart. The detailed report also covers a list of features that delight users and several other interesting insights.
Enter your email below to get this report for FREE.
The biscuit industry in India has seen 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.
With all the health talks doing rounds, it has not spared the biscuit industry. A biscuit that comes with nutritional factors such as carbohydrates, fats, and fibers and is 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.
Consumers seem to say ‘Normal is boring. The emerging trend in the biscuit industry is to have biscuits packed with wholesome exotic fruits and nuts. A variety of fruits and nuts such as apples, 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!
As per a survey, consumers in India prefer local brands the most. Indian brands are able to understand consumer needs and hence are preferred over 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 Indian consumers.
The market analysis uses research findings to identify the strengths and weaknesses that can be used to take advantage and move ahead of the competition. Learn much more about biscuit lovers and the factors that delight them. Which are the emerging biscuit brands in India? What is the overall sentiment as per the online conversations of consumers?
Do want to know other important factors that customers are talking about in the biscuits industry? You can download the pdf version of the complete report for free. Enter your email at the end of this report and we’ll send it to you for FREE.
Revolutionize CX with an AI-enabled patented customer experience analytics solution that helps brands understand the WHY behind customer experience!
© 2024 Clootrack. All Rights Reserved