Published By : 17 Aug 2016 | Published By : QYRESEARCH
With the rise in the tourist population in Switzerland, the retail sector in the country has experienced a significant growth in the recent years after the economic downturn of 2008. As a result of the substantial growth in the economy state of the country, the disposable income of consumers has taken a hike resulting in a spike in purchasing power. Moreover, the rising awareness regarding health benefits of healthy snacks is likely to boost the sales of the biscuit market in Switzerland in the upcoming years.
Rising Health Awareness to Fuel Sales of Biscuits in Switzerland
Due to exhausting lifestyle and changing food habits, consumers are refraining from rigorous exercise routines. As a result of this, they are focusing on acquiring healthy snacks and diet habits. Moreover, the demand for nutritious, healthy, sugar free, and low calorie products has positively affected the overall progress of the biscuits market in Switzerland. The increase in the population of consumers between the age group of 20 and 30 has led to a substantial increase in the demand for convenient snacks. In Switzerland, the consumers between the age group of 20 and 30 account for almost 28% of the overall revenue of the biscuits market. Furthermore, the population between the age group of 31 and 40 are also potential consumers of biscuits in the country. The growing consciousness regarding health among these age groups is anticipated to boost the sales of biscuits in Switzerland in the upcoming years.
High Production Cost to Inhibit Biscuits Market Growth in Switzerland
The competition in the biscuits market is high due to prevalence of large number of market players. As a result of this, the cost of raw materials is significantly high due to their high requirement in the country. The expensive raw materials along with high cost of labor, and mounting packaging cost are the major factors which are likely to impede the growth of the biscuits market in Switzerland.
The chocolate coated biscuits segment is anticipated to lead the biscuits market in terms of product until 2024. The biscuit market in Switzerland is expected to expand at a 2.7% CAGR between 2016 and 2024.