ALBANY, New York, August 18, 2016 /PRNewswire/ --
A constant rise in demand for healthy and nutritious product varieties, with low-calorie and sugar-free products gaining high consumer preference, and the demand for convenient snacks are some of the key trends impacting the overall development of the present-day Switzerland biscuits market. The rising numbers of international and domestic tourists in the country and steady growth in the retail sector post the economic turmoil of 2008 are aiding the market in moving along a sustainable growth path.
However, rising raw material, labor, and packaging costs and the need to hold on to prices to withstand the intense competition in the market are collectively leading to a stagnant rise in profit margins for manufacturers. Transparency Market Research estimates that the Switzerland biscuits market will expand at a CAGR of 1.7% over the period between 2016 and 2024, rising from a valuation of US$973.3 mn in 2015 to US$1,125.7 mn by 2024. The market will expand at a 1.2% CAGR in terms of volume over the same period.
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Rising Raw Material Costs to Intensify Price-war Among Key Vendors
The minimum selling prices of essential raw materials required for the production of a variety of biscuits have witnessed price rise of in the range of 25-30% over the past few years. While trying to hold on to prices of their products in the intensely competitive market, most biscuit manufacturers have tried ways of reducing production costs. On an average, biscuit companies have profit margins between 3% and 5%.
Apart from the rising prices of raw materials, a rise in labor and packaging costs have resulted in a substantial rise in input costs. Thus the growth in these profit margins has remained stagnant in the past few years. High input prices are expected to remain one of the most significant factors impacting the overall development of the Switzerland biscuits market in the next few years.
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Nevertheless, the rising demand for easy to consume and healthy snacks and the overall appeal of Swiss confectionaries among tourists will enable the market to tread along a sustained growth path in the next few years.
The segment of chocolate coated biscuits held the largest share in terms of revenue in the market in 2015, an estimated 36.9% of the overall market revenue that year. The age group of 20-30 years emerged as the leading contributor to market's overall sales in the same year.
This review is based on a recent market research report published by Transparency Market Research, titled "Biscuits Market - Switzerland Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
The Switzerland biscuits market features a fragmented marketplace, with the presence of a large number of large, small, and unorganized vendors owing to low entry barriers, states TMR in a recent report. The rising costs of raw materials is expected to intensify the price wars in the market among key players in the next few years.
To appeal to the shifting choices of consumers from high-fat and high-sugar content products to healthier ones, the focus on production of product varieties such as digestive biscuits, dietary biscuits for weight loss, and protein-enabled biscuits has substantially increased. Production of biscuits containing high levels of fiber and reduced levels of sugar is also gaining prominence among key vendors as a way of appealing to the rising population of health conscious consumers. Some of the key vendors operating in the Switzerland biscuits market are Kägi Söhne AG., Kambly SA, HUGAG, Lefèvre-Utile, Barilla G.e R. Fratelli S.p.A, Walkers Shortbread Ltd, Läckerli Huus Ag, Wernli AG, and Nestle S.A.
Browse Regional Market Analysis: http://www.europlat.org/switzerland-biscuits-market.htm
For this study, the market has been segmented as follows:
Switzerland Biscuits Market, Ingredients Analysis
Switzerland Biscuits Market, Product Analysis
- Rich Tea
- Plain biscuits
- Chocolate Coated biscuits
- Filled biscuits
Switzerland Biscuits Market, Age Group Analysis
- 5 - 10
- 11 - 19
- 20 - 30
- 31 - 40
- 41 and Above
Browse Other Research Reports:
- Global Biscuits Market: http://www.transparencymarketresearch.com/biscuits-market.html
- Cereal Ingredients Market: http://www.transparencymarketresearch.com/cereal-ingredients-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research