Crackers Market Size, Share, Growth, and Industry Growth by Type (Soda Crackers, Whole Wheat, Biscuits, Sandwich Biscuits, Nutritionally Fortified Cookies, and Other) By Application (Online, Shopping Mall, Supermarket, Hypermarket, Convenience Store, Specific Retailers, and Other), Regional Forecast To 2031

Updated On: 08 April 2024

Crackers Market REPORT OVERVIEW

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The global crackers market size was USD 22820 million in 2022 and market is projected to touch USD 33579.2 million by 2031, exhibiting a CAGR of 4.4% during the forecast period.

Crackers are the type of biscuit. They are thin, hard, and flat biscuits. The biscuit is named as cracker because it makes a crackling noise, and it is popular snack food.

Crackers are the most popular baked products and comprise nutritional ingredients such as fibers, carbohydrates, vitamins, and other minerals. Increased need for quick and convenient food and high adoption of packed food is predicted to surge market growth. Rise in inclination towards healthy snacks and busy lifestyle of the consumer. These biscuits are nutritious, healthy, and have an aesthetic and sensory appeal. Further, the availability of whole-grain, gluten-free, and sugar-free options is anticipated to drive market growth. Rapid urbanization and change in eating habits. These factors are expected to fuel market growth in the forthcoming years. Growing popularity for baked items and easy availability of the biscuits in shopping complexes and food stores is anticipated to drive market growth. On the contrary, alternative bakery products such as cookies, muffins, and tea cakes are anticipated to limit market growth. Also, high cost of the biscuits is predicted to harm market growth in the forthcoming years.

COVID-19 Impact: Closure of Production Activities and Limited Workforce to Minimize Market Growth

The global crackers market witnessed a negative impact due to the outbreak of COVID-19. Lockdown restrictions disrupted the supply chain. Limited workforce and closure of production activities minimized market growth. The shutdown of factories and difficulties in importing and exporting the product limited market progress.

LATEST TRENDS

"New Product launch to Surge Market Progress"

Launching new products and growing competition among key players is predicted to drive market growth. The biscuits are healthy, and key players are dedicated to healthy lunch biscuits for a shift in consumer preference. The biscuits are low carb, sugar-free, and can be consumed on their diet. The biscuits have high fiber and no maize content, which is responsible for attracting more customers. Further, key players are focused on developing the product as per consumer requirements. Increased need for healthy snacks and growing awareness about healthy eating habits. In addition, high consumer preference for a healthy lifestyle is anticipated to boost the market growth in the upcoming years.

Crackers Market SEGMENTATION

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• By Type

Based on type, the market is divided into sandwich biscuits, soda crackers, whole wheat, biscuits, nutritionally fortified cookies, and others.

Whole wheat is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into online, shopping mall, supermarket, hypermarket, convenience store, specific retailers, and others.

Shopping mall is expected to be the top part of application segmentation.

DRIVING FACTORS

"Innovative Marketing, Offers, and Store Promotion to Boost Crackers Adoption "

Market players are adopting innovative marketing strategies, and exclusive offers and a rise in-store promotion are anticipated to fuel market growth. Growing need for quick snacks and high need for packed food items are predicted to drive market growth. The increased trend for food-on-the-go and high need for nut-based and nutritious-oat-based biscuits among consumers are projected to drive market growth. Further, increased working population and the product is considering smart food options are estimated to fuel market growth. The biscuits are available in different flavors and shapes. In addition, the biscuits are delicious in taste and can be a replacement for healthy desserts. These factors are anticipated to foster crackers market growth in the projected period.

"Changing Consumer Preferences and High Spending Capacity to Accelerate Market Growth"

Rapid urbanization and busy lifestyle are responsible for changing consumer preference. Today, people are dependent on quick snacks and easily available products. Further, increased disposable income and high consumer spending capacity are anticipated to boost the market progress. The presence numerous options and several food marketing coupled with increased popularity for bakery products is estimated to surge market growth. In addition, increase in population, and rapid development in food and packing sectors are anticipated to push market demand in the forthcoming years.

RESTRAINING FACTORS

"Presence of Alternative Products to Reduce Market Progress"

The presence of alternative bakery products such as cookies, muffins, and tea-cakes is anticipated to limit the market growth. Also, high cost of the biscuits is predicted to harm market growth in the forthcoming years.

Crackers Market REGIONAL INSIGHTS

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"Europe is the largest Producer of Bakery Items to Drive Market Growth"

Europe is estimated to account for the highest crackers market share due to largest producers and exporters of bakery products. The crackers are consumed daily by the population in the region. Further, high demand for savory crackers and baked items is anticipated to boost market growth in the region. Increased need for quick and convenient food and high adoption of packed food is predicted to surge market growth. Rise in inclination towards healthy snacks and the busy lifestyle of consumer are anticipated to further boost market growth.

Asia Pacific is predicted to exhibit the fastest growth due to rapid urbanization and growing adoption of western eating habits. Rise in disposable income and change in consumer preference. Further, high demand for convenient and healthy snacks coupled with an active lifestyle is projected to drive market growth.   

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• M.Y.San (Philippines)
• Nestle (Switzerland)
• Kelloggs (U.S.)
• Captains Wafers (U.S.)
• Natures Pear (U.S.)
• Bremner Biscuit Company (U.S.)
• Keebler Company (U.S.)
• Mondelez International (U.S.)
• PepsiCo (U.S.)
• Three Squirrels (China)
• Hsu Fu Chi International (China)
• Bestore (China)
• ConAgra Foods (U.S.)
• Frito-Lay (U.S.)
• Snyders-Lance (U.S.)
• Mars (U.S.)
• Auntie Annes (U.S.)
• Boulder Brands (U.S.)
• Herr Foods (U.S.)
• Intersnack (Germany)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.