Both globally and locally, innovative Sweet Biscuit flavours are increasingly ‘baking’ in the industry, as consumers demand more novel and exciting flavours of their favourite snack products. Specifically, manufacturers are launching unique creations and combinations of product flavours in its Sweet Biscuit ranges, in order to cater to capricious consumer demands, as well as the increased love for discovering new flavours.
Insight Survey’s latest South African Sweet Biscuits Industry Landscape Report 2022, carefully uncovers the global and local Sweet Biscuits market (including the impact of COVID-19), based on the latest intelligence and research. It describes the latest global and local market trends, innovation and technology, drivers and challenges, to present an objective insight into the South African Sweet Biscuits industry environment and its future.
In 2021, the global Sweet Biscuits market was valued at approximately US$91.4 billion, and is expected to grow at a compound annual growth rate (CAGR) of 5.3% during the forecast period 2022* to 2027*. Therefore, the Global Sweet Biscuits market is expected to reach approximately US$121.1 billion in 2027*, as illustrated in the graph below.
Source: MaximiseMarketResearch Graphics by Insight Survey
In terms of the South African market, the local Sweet Biscuits market achieved growth of 7.9% year-on-year, in current prices, between 2020 and 2021. Moreover, the market is expected to experience solid grow at a CAGR of 7.0%, over the forecast period 2022* to 2026*.
This growth in both the global and local Sweet Biscuits markets is largely due to the innovation being experienced in the industry, with numerous market players releasing unique, novel, and exciting Sweet Biscuit flavours. For example, Voortman and McVitie’s recently released new Sweet Biscuit ranges, which include bold and adventurous flavour combinations.
Specifically, Voortman launched a new limited-time range of créme Wafers, in celebration of the summer season. This range includes two innovative flavours, namely Raspberry Lemonade and Tropical Fruit, which are baked with real raspberries, lemons, pineapples, and coconut. Moreover, McVitie’s launched its new on-trend Chocolate and Cherry Biscuit product, in order to attract younger consumers who find flavour innovation and novelty more appealing.
Other key examples in the global Sweet Biscuits market include that of ICEE Sandwich Filled Cookies, which was recently launched to offer a unique vanilla biscuit, sandwiched between cherry or blue raspberry créme, as well as Oreo’s new Chocolate Confetti Cake flavoured Oreo product, which was launched in celebration of its 110th birthday.
Other interesting developments include the launch of various ‘hybrid’ Sweet Biscuit products, which involves the mash-up of Sweet Biscuits and other baked goods. This includes the launch of Morrisons’ hybrid biscuit product that includes a mix of Bourbon and custard cream, M&S’s recently launched ‘Biscake’ hybrid product that consists of cake and a biscuit in various flavours, and Chonky Cookies’ range of giant Cookies that are available in flavours ranging from Cotton Candy Circus to cookies filled with cotton candy and frosted animal crackers.
Similarly, this trend has also gained traction within the local market, with more South African consumers demanding innovative flavours. Key players have, therefore, responded to this rising demand, through the continuous development and introduction of unique flavour combinations and the broadening of its Sweet Biscuit product ranges.
For example, Ouma, the popular South African rusks brand, announced the relaunch of its special edition YUM YUM peanut butter flavoured rusks, due to high consumer demand. Additionally, Ouma also launched a new YUM YUM Caramel Dreams rusk product to its range.
Cape Cookies also announced the launch of a new flavour in its rusks offering, namely its unique Fig and Honey flavoured rusk product, which is made with 10% honey and 5% figs.
Furthermore, several retailers in South Africa now offer bold and innovative flavoured Sweet Biscuit products, such as Woolworths’ extensive range of uniquely flavoured Sweet Biscuits, which includes its Pecan Fudge Shortbread, Lemon and Poppyseed Shortbread, Coconut Wafer Cubes, Caramel Rusks, and its Caramel Dipped Crunchies, amongst others.
The South African Sweet Biscuits Industry Landscape Report 2022 (110 pages) provides a dynamic synthesis of industry research, examining the local and global Sweet Biscuits industry (including the impact of COVID-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – market sizes and forecasts, industry trends, latest innovation and technology, key drivers and challenges, as well as manufacturer, distributor, retailer, and pricing analysis.
Some key questions the report will help you to answer:
- What are the key market dynamics of the global and South African Sweet Biscuits industry?
- What are the latest global and South African Sweet Biscuits industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the South African Sweet Biscuits industry (2016-2021) and forecasts (2022-2026), including the impact of COVID-19?
- Which are the key manufacturers, distributors, and retail players in the South African Sweet Biscuits industry?
- What is the latest company news for key players in terms of products, new launches, and marketing initiatives?
- What are the prices of popular Sweet Biscuits brands and products across South African retail outlets?
Please note that the 110-page report is available for purchase for R35,000.00 (excluding VAT). Alternatively, individual sections can be purchased for R15,000.00 (excluding VAT).
For additional information, contact us at firstname.lastname@example.org or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: SA Sweet Biscuits Industry Landscape Brochure 2022
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