Saudi Arabia Biscuit Market Size Booming to Touch USD 56.5 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia biscuit market size at USD 37.01 billion in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia biscuit market size is projected to grow at a CAGR of 6.30% reaching a value of USD 56.5 billion by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia biscuit market size at USD 37.01 billion in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia biscuit market size is projected to grow at a CAGR of 6.30% reaching a value of USD 56.5 billion by 2029. The deepening penetration of online grocery shops and increasing number of new product launches with novel tastes and packaging to draw consumers are major growth factors for the Saudi Arabian biscuit market. Food businesses are concentrating on effective marketing and developing ingredients and health-conscious goods, which are predicted to offer profitable growth opportunities to the Saudi Arabia biscuit market.
Saudi Arabia Biscuit Market – Overview
A biscuit is a baked and formed food item made of flour. It can be created with sugar, chocolate, frosting, jam, ginger, or cinnamon and is often sweet. Like crackers, it can also be savory. Crackers, hard sweet biscuits, short dough biscuits, and cookies (including filled cookies) are the four general kinds of biscuits, which are defined by their recipes and biscuit-baking techniques. The main advantage of eating biscuits is the quick energy they offer because of their high-calorie content.
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Saudi Arabia Biscuit Market – By Product
Based on product, the Saudi Arabia biscuit market is segmented into rich tea, bourbon, plain biscuits, chocolate-coated biscuits, and filled biscuits. The plain biscuits segment accounts for the highest market share. Plain biscuits are frequently eaten as a snack or dessert rather than a whole meal. They are convenient for snacking because they are affordable and sweet. They are a popular food choice in Saudi Arabia because they are inexpensive, filling, and long-lasting. However, bourbon and chocolate-coated biscuits also cover a significant market share owing to their immense popularity among children.
Impact of COVID-19 on the Saudi Arabia Biscuit Market
The unprecedented COVID-19 pandemic proliferated the growth of the Saudi Arabia biscuit market. Although the market was negatively affected due to a sudden spike in demand for biscuits and restrictions in the distribution channels, which created a huge demand and supply gap. However, the market players quickly focused on improving the distribution channels and boosting overall production to meet the growing demand for biscuits in the Kingdom. The market was also favored by the increasing health consciousness among consumers which directly influenced the demand for products with high fiber and nutrients.
Competitive Landscape
Major players operating in the Saudi Arabia biscuit market include ITC Limited, Kambly SA, Mondelez International, PepsiCo, The Kraft Heinz Company, Annie's Homegrown, Inc., Parle Products Pvt. Ltd., Patanjali Ayurved, Britannia, and Kellogg Co.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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