Global Sweet Biscuit Market's Steady 1.0% Volume CAGR Forecast Through 2035

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The global sweet biscuit market, valued at $59.8B in 2024, is projected to grow at a CAGR of +1.0% in volume to 21M tons and +1.6% in value to $71B by 2035. China, the United States, and India are the largest consumers, while China, India, and the U.S. lead production. The United States is the world's largest importer, and Mexico, the Netherlands, and Germany are the top exporters. Import and export prices have been rising, with average prices reaching $3,523 and $3,576 per ton respectively in 2024.

Key Findings

• Global sweet biscuit market volume is forecast to grow at a 1.0% CAGR to 21M tons by 2035, with value reaching $71B at a 1.6% CAGR
• China, the United States, and India are the top three consuming countries, together accounting for 40% of global volume
• The United States is the dominant importer, constituting 22% of global import volume, while Mexico, the Netherlands, and Germany lead exports
• Nigeria recorded the highest consumption growth rate among major markets from 2013 to 2024
• Average global import and export prices have risen steadily, reaching $3,523 and $3,576 per ton respectively in 2024

Market Forecast

Driven by increasing demand for sweet biscuits worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market volume to 21M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.6% for the period from 2024 to 2035, which is projected to bring the market value to $71B (in nominal wholesale prices) by the end of 2035.

Consumption

World's Consumption of Sweet Biscuits

After two years of growth, consumption of sweet biscuits decreased by less than 0.1% to 19M tons in 2024. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, global consumption hit record highs at 19M tons in 2023, and then dropped slightly in the following year.

The global sweet biscuit market value reached $59.8B in 2024, stabilizing at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.5% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 when the market value increased by 7.9% against the previous year. Over the period under review, the global market hit record highs in 2024 and is likely to see steady growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (3.8M tons), the United States (2.4M tons) and India (1.5M tons), with a combined 40% share of global consumption. Indonesia, Pakistan, Nigeria, Brazil, Russia, Japan and Bangladesh lagged somewhat behind, together accounting for a further 22%.

From 2013 to 2024, the biggest increases were recorded for Nigeria (with a CAGR of +3.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit markets worldwide were China ($11.5B), the United States ($10.7B) and Japan ($7.1B), with a combined 49% share of the global market. Indonesia, India, Pakistan, Brazil, Russia, Nigeria and Bangladesh lagged somewhat behind, together comprising a further 15%.

Nigeria, with a CAGR of +3.2%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of sweet biscuit per capita consumption in 2024 were the United States (7 kg per person), Japan (4.2 kg per person) and Russia (4 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by China (with a CAGR of +1.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World's Production of Sweet Biscuits

In 2024, after two years of growth, there was decline in production of sweet biscuits, when its volume decreased by -0.1% to 19M tons. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 3.7%. Global production peaked at 19M tons in 2023, and then reduced slightly in the following year.

In value terms, sweet biscuit production totaled $60.3B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 7.8%. Over the period under review, global production attained the peak level in 2024 and is expected to retain growth in the immediate term.

Production By Country

The country with the largest volume of sweet biscuit production was China (3.7M tons), comprising approx. 19% of total volume. Moreover, sweet biscuit production in China exceeded the figures recorded by the second-largest producer, India (1.8M tons), twofold. The United States (1.7M tons) ranked third in terms of total production with a 9.1% share.

In China, sweet biscuit production increased at an average annual rate of +1.9% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: India (+2.4% per year) and the United States (-2.6% per year).

Imports

World's Imports of Sweet Biscuits

In 2024, supplies from abroad of sweet biscuits decreased by -8.7% to 3.2M tons, falling for the second year in a row after seven years of growth. The total import volume increased at an average annual rate of +1.5% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when imports increased by 6.2% against the previous year. Over the period under review, global imports reached the maximum at 3.7M tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, sweet biscuit imports dropped slightly to $11.4B in 2024. Over the period under review, total imports indicated a pronounced increase from 2013 to 2024: its value increased at an average annual rate of +3.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports increased by +33.3% against 2018 indices. The growth pace was the most rapid in 2023 when imports increased by 14%. As a result, imports attained the peak of $11.8B, and then dropped in the following year.

Imports By Country

The United States was the largest importing country with an import of around 697K tons, which amounted to 22% of total imports. It was distantly followed by the UK (170K tons), France (165K tons) and Germany (164K tons), together constituting a 15% share of total imports. The Netherlands (110K tons), Belgium (97K tons), Canada (73K tons), Ireland (65K tons), China (61K tons) and Spain (59K tons) held a minor share of total imports.

The United States was also the fastest-growing in terms of the sweet biscuits imports, with a CAGR of +8.1% from 2013 to 2024. At the same time, Ireland (+6.5%), Belgium (+3.2%), the UK (+3.1%), Canada (+3.0%), China (+2.6%), Germany (+2.4%), Spain (+2.0%) and the Netherlands (+1.1%) displayed positive paces of growth. France experienced a relatively flat trend pattern. The United States (+11 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.4B) constitutes the largest market for imported sweet biscuits worldwide, comprising 21% of global imports. The second position in the ranking was held by the UK ($766M), with a 6.7% share of global imports. It was followed by Germany, with a 6.2% share.

In the United States, sweet biscuit imports increased at an average annual rate of +8.1% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: the UK (+4.7% per year) and Germany (+3.6% per year).

Import Prices By Country

In 2024, the average sweet biscuit import price amounted to $3,523 per ton, growing by 6.1% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2023 an increase of 18%. Over the period under review, average import prices attained the maximum in 2024 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2024, major importing countries recorded the following prices: in Canada ($4,770 per ton) and the Netherlands ($4,744 per ton), while the United States ($3,376 per ton) and Ireland ($3,415 per ton) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.6%), while the other global leaders experienced more modest paces of growth.

Exports

World's Exports of Sweet Biscuits

After eight years of growth, overseas shipments of sweet biscuits decreased by -9.1% to 3.2M tons in 2024. The total export volume increased at an average annual rate of +2.1% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 12%. Over the period under review, the global exports reached the maximum at 3.5M tons in 2023, and then contracted in the following year.

In value terms, sweet biscuit exports contracted slightly to $11.5B in 2024. Overall, total exports indicated a noticeable increase from 2013 to 2024: its value increased at an average annual rate of +3.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +61.9% against 2015 indices. The growth pace was the most rapid in 2023 when exports increased by 16% against the previous year. As a result, the exports reached the peak of $11.9B, and then shrank modestly in the following year.

Exports By Country

In 2024, Mexico (447K tons), followed by India (278K tons), the Netherlands (264K tons), Germany (216K tons), Turkey (181K tons) and Belgium (168K tons) were the major exporters of sweet biscuits, together committing 48% of total exports. The following exporters - Spain (124K tons), Italy (122K tons), Poland (105K tons) and Canada (105K tons) - together made up 14% of total exports.

From 2013 to 2024, the biggest increases were recorded for Mexico (with a CAGR of +10.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest sweet biscuit supplying countries worldwide were Mexico ($1.3B), the Netherlands ($1.2B) and Germany ($1.1B), together accounting for 32% of global exports.

In terms of the main exporting countries, Mexico, with a CAGR of +13.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average sweet biscuit export price stood at $3,576 per ton in 2024, with an increase of 6.9% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2023 an increase of 16%. The global export price peaked in 2024 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($5,340 per ton), while India ($1,235 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Germany (+2.8%), while the other global leaders experienced more modest paces of growth.