Picture Courtesy: www.info.wowlogistics.

com

Biscuits and Cookies Industry in India

2015 - 2019

Market
Overview

Industry
Structure

Executive
Summary

TOC

Drivers &
Inhibitors

Industry

Industry Trends

Attractiveness

Competitive
Environment

Annexure &
Appendix

India Fact File

India - Snapshot
North

Jammu
and
Kashmir

West

Himachal
Pradesh
Punjab
Uttaranchal
Haryana
New Delhi
Jaipur
Lucknow
Rajasthan

Ahmadabad
Surat
Maharashtra

Land Area

East

Population density
Form of government

Bihar

Assam Nagaland

Hyderabad

Andhra
Goa
Karnataka Pradesh
Bangalore

Kerala

Tamil
Nadu

Chennai

Capital
Per capita income

324 persons per sq km

Democracy

29 states & 7 union territories

New Delhi
Nominal: USD1,124.4 p.a

Kolkata
Religion

43 cities in India have a population of 1mn+

Cities in India are classified on the basis of cost of
living:
4 metros including Mumbai, Delhi, Chennai,
Kolkata
9 tier 1 (+5 million ) cities including Pune,
Ahmedabad and Bangalore
22 tier 2 cities (1 million to 5 million)
including Patna, Kochi, Rajkot, Madurai, etc.
41 tier 3 cities (less than 1 million ) including
Ranchi, Mangalore, Gwalior, Roorkee, etc.

6 main religions

Languages

Hindi (official language), English

(business language), 22 official
languages

Currency

Rupees

Exchange rate (USD

to INR)
Rural-urban mix

Tier-I cities
Metro cities
2

3.29 mn sq km

Meghalaya

Manipur
West
Jharkhand
Mizoram
Bengal Tripura

Chhattisgarh
Nagpur
Orissa

Number of States

Telangana

Mumbai Pune

1.4% p.a

Sikkim

Patna

Madhya Pradesh

South

Arunachal
Pradesh

Uttar Pradesh

Gujarat

Population growth

1 USD = INR 60.03

(as on 1st July 2014)
68% people reside in rural areas

Households

246 mn

Literacy rate

74.04%
Source: Government websites

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Executive
Summary

TOC

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Preface to the report

Who is the reader?

Any participant or stakeholder in the biscuits and cookies industry, who would benefit from this report

The report will also help analysts, industry experts or any person looking for an in-depth understanding of the biscuits and
cookies industry

Purpose of the report

The report gives insights on how the biscuits and cookies industry is expected to grow in the coming years till 2019. It is
aimed at giving intelligent and actionable insights on the drivers and challenges for the industry and key segmentation, i.e.
by end users and by geography

Another important aspect of the report is the profiles of the top industry players in biscuits and cookies industry in India

Scope of the report

This report looks at the current scenario for biscuits and cookies industry in India

Small home and local bakeries/cafes do not come under the purview of this report

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

TOC

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Executive Summary

Slide 9

Industry Structure

Slide 10

1.1

Bakery Industry Structure

Slide 11

1.2

Evolution of Biscuits and Cookies Industry in India

Slide 12

1.3

Biscuit Industry Definition

Slide 13

1.4

Biscuit Industry Supply Chain

Slide 14

Table of Contents

Executive
Summary

Market Overview

Slide 15

2.1

Market Size and Growth Value

Slide 16

2.3

Biscuit Consumption India V/S World

Slide 17

2.4

Biscuit Industry Segmentation by Urban-Rural

Slide 18

2.5

Biscuit Industry Segmentation by Type

Slide 19

2.6

Price Analysis

Slide 20

2.7

Geographic Analysis

Slide 21

Drivers and Inhibitors

Slide 22

3.1

Driver 1: Increase in Disposable Income

Slide 24

3.2

Driver 2: Availability of Different Pack Sizes

Slide 25

3.3

Driver 3: Growth in Organized Retail

Slide 26

3.4

Driver 4: Growth in Processed Food Industry

Slide 27

3.5

Inhibitor 1: Increasing Tax Incidence

Slide 28

Inhibitor 2: Distribution Problems in Rural India

Slide 29

3.6
4

Industry Trends
4.1

Slide 30

Recent Trends Witnessed

Slide 31

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Competitive
Environment

Annexure &
Appendix

TOC

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry Trends

Industry Attractiveness

Industry
Attractiveness

Slide 33

5.1

Porters Analysis

Slide 34

5.2

Industry Attractiveness Index

Slide 35

Competitive Environment

Slide 36

6.1

Biscuit Industry Segmentation by Organized/Unorganized Players

Slide 37

6.2

Market Share of Players

Slide 38

6.2

Brand Positioning Price and Quality Analysis

Slide 39

6.3

Competitive Benchmarking

Slide 40

Table of Contents

Executive
Summary

Profiles of Key Players

Slide 41

7.1

Anmol Biscuits

Slide 42

7.2

Britannia Industries

Slide 44

7.3

ITC

Slide 46

7.4

Parle Products

Slide 48

7.5

Surya Foods and Agro

Slide 50

Appendix

Slide 52

8.1

Research Methodology

Slide 57

8.2

Abbreviations and Bibliography

Slide 58

8.3

Glossary

Slide 59

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Competitive
Environment

Annexure &
Appendix

Table of Contents | List of Charts & Tables

TOC

Executive
Summary

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Chart 1

Share of Biscuits and Cookies in Bakery Segment in FY 2014 India

Slide 16

Chart 2

Market Size and Growth of the Biscuits and Cookies Industry in India FY 2011-19 (INR bn)

Slide 16

Chart 3

Per Capita Biscuit Consumption 2009-10 (India V/S Other Countries)

Slide 17

Chart 4

Urban-Rural Penetration of Biscuits FY 2013

Slide 18

Chart 5

Biscuits and Cookies Industry Segmentation in FY 2014

Slide 19

Chart 6

Biscuits and Cookies Industry Segmentation in FY 2019

Slide 19

Chart 7

Biscuits Industry Segmentation by Price in FY2014 (by Value)

Slide 20

Chart 8

Brand Segmentation by Price (Price Per Kg)

Slide 20

Chart 9

Biscuits and Cookies Industry Segmentation by Region in FY 2014

Slide 21

Chart 10

Rise in Per Capita Income (INR)

Slide 24

Chart 11

Consumer Breakdown by Income Level (USD mn)

Slide 24

Chart 12

Share of Segments in Organized Retail in India (INR cr)

Slide 26

Chart 13

Increase in Organized Retail in Food and Grocery in India (INR cr)

Slide 26

Chart 14

Growth of Food Processing Sector in India (INR bn)

Slide 27

Chart 15

Porters Analysis of Biscuits and Cookies Industry in India

Slide 34

Chart 16

Share Between Organized and Unorganized Players in the Indian Biscuits and Cookies Industry FY2014

Slide 37

Chart 17

Market Share of Key Players in The Indian Biscuits and Cookies Industry (By Value)

Slide 38

Chart 18

Price and Quality Perception For Biscuits in India

Slide 39

Chart 19

Annual Turnover of Anmol Biscuits Limited (INR bn)

Slide 43

Chart 20

Key Manufacturing Locations of Anmol

Slide 43

Chart 21

Annual Turnover of Britannia Industries Limited (INR bn)

Slide 45

Chart 22

Key Manufacturing Locations of Britannia

Slide 45

Chart 23

Annual Turnover of ITC Limited (INR bn)

Slide 47

Chart 24

Key Manufacturing Locations of ITC

Slide 47

Chart 25

Annual Turnover of Parle Products Private Limited (USD mn)

Slide 49

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Competitive
Environment

Annexure &
Appendix

Table of Contents | List of Charts & Tables

TOC

Executive
Summary

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Chart 26

Key Manufacturing Locations of Parle

Slide 49

Chart 27

Annual Turnover of Surya Foods and Agro Limited (INR bn)

Slide 51

Chart 28

Key Manufacturing Locations of Surya Foods and Agro

Slide 51

Chart 29

Biscuits and Cookies Production of Organized Sector in India (Lakh Metric Tons)

Slide 53

Chart 30

Key Manufacturing Location of Biscuit Manufacturers in India

Slide 54

Chart 31

Price Index of Wheat Flour, Sugar, Milk Price in Last Few Quarters (INR) Base Year: FY 11-12=100

Slide 55

Table 1

Competitive Benchmarking of Top Players in India

Slide 40

Table 2

Financial Indicators of Anmol Biscuits Limited

Slide 43

Table 3

Financial Indicators of Britannia

Slide 45

Table 4

Financial Indicators of ITC Limited

Slide 47

Table 5

Financial Indicators of Parle Products

Slide 49

Table 6

Financial Indicators of Surya Foods

Slide 51

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Competitive
Environment

Annexure &
Appendix

Biscuits and Cookies Industry

ValueNotes India Market Intelligence Dashboard

Industry
Structure

Concentration

Organized Sector

Data Availability
Macro
Data

Micro
Data

Completeness

Market share of top 5 firms = 75%

Source of Data

Output in organized Sector = 80%

Quality

Trade Interviews
Primary
Research

Company websites,
news articles

Indian Biscuit Manufacturers Association

(IBMA), Federation of Biscuits Manufacturers
of India (FBMI)

Government
Bodies

Copyright 2015 ValueNotes Database Pvt. Ltd. All rights reserved.

Ministry of Food Processing India

Recency
Macro Data: Market size, growth, market
shares of key players, customer segments,
key industry metrics
Micro Data: Segmental market size &
growth, financials of key players
Completeness: All data points are available
Quality: Accuracy of data gathered
Recency: Latest period data is available

www.valuenotes .biz

2015

TOC

Executive
Summary

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry Trends

Competitive
Environment

Industry
Attractiveness

Annexure &
Appendix

The biscuits and cookies industry in India has been growing at a CAGR of 10% for the last three years, and is
currently valued at INR 145bn

Market Size and

Growth

India is currently the worlds largest biscuit consuming nation

The industry is expected to grow at a CAGR of 14% till FY 2019
ValueNotes estimates that the industry will be worth approximately INR 279bn (~USD 4.65bn) by FY 2019
Drivers:

Executive Summary

Drivers and
Challenges

Increasing disposable income, changing lifestyle, growth in organized retail and increasing consumption of
processed and packaged food are the main drivers of the industry
Challenges:
Increasing tax incidence and rising input costs are the main challenges that the biscuits and cookies industry is
currently facing

Glucose biscuits (~25%) have the highest share in the industry

Industry
Segmentation

Compared to other FMCG products, the penetration of biscuits and cookies, in both the urban and rural areas is
quite high (94% and 83%, respectively)
East and North India have the highest consumption of biscuits and cookies in the country

80% of the market is currently organized

Parle
25%
34%

The top four players in the market for biscuits and cookies are:

Key Players

Parle Products, Britannia, ITC and Surya Foods and Agro

Both Britannia and Parle account for 61% share of the market

ITC
2%
4%

Surya Foods

8%

Anmol
27%

The biscuits and cookies industry in India has been given an Industry Attractiveness Rating of 6.7 as per the
ValueNotes Industry Attractiveness Rating Evaluation System
9

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Britannia

Others

Insert appropriate picture

Picture Courtesy: Daifuku

Industry Structure

Executive
Summary

TOC

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Biscuits and cookies is the largest segment in the bakery industry

Chapter 1:Biscuit Industry Structure

Bakery Industry
(INR 199,000mn)

Biscuits and cookies

Bread

Cakes and pastry

Other products

(INR 145,000 mn)

(INR 30,000 mn)

(INR 18,500mn)

(INR 5,500mn)

Biscuits and cookies is a term

Bread is a bakery product

Cake is a form of bread or bread-

The other products in the bakery

used for a variety of baked,

made of flour, water, and

like food in its modern form. It is

industry are khari, toast, rusk and

commonly

yeast mixed together and

typically a sweet baked dessert

other small bakery products

baked

Types of cakes are:

flour-based

food

products, and is typically crisp

and flat

Bread has become an integral

There are no major players in this

Chocolate Cakes

segment

as

locally.

India is the worlds largest

part of modern day living and

Pastries

happens

biscuits and cookies consuming

is available in various forms

Cream Cakes

players

nation

and flavors

11

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

like

most

production
Even

large

Britannia

have

minimal presence in this segment

Executive
Summary

TOC

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Chapter 1: Evolution of Biscuits and Cookies Industry in India

Biscuits no longer a product of mass consumption

Late 1990s

2000 2010

Current situation (2011 onwards)

Prior to the deregulation of the

The Indian biscuits and cookies industry saw

Manufacturers are now focusing on

industry, only small scale industries

high growth during this period due to

improving

(SSI) were allowed to manufacture.

increased globalization and the popularity of

(packaging, taste and appeal) of their

Even the likes of Britannia, Parle,

convenience foods

products

etc. were not allowed to increase

their own capacity
Consumption was largely restricted

Biscuit and cookie manufacturers started

improving

their

sales

and

distribution

networks across the country

to urban pockets

12

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

the

presentation

Premium biscuit brands such as Oreo

and Sunfeast Dark Fantasy are seeing
an increase in sales

TOC

Executive
Summary

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Definition of biscuits and cookies

Biscuits is a term used for a variety of baked, commonly flour-based food products
The types of biscuits based on ingredients are:
Glucose: Small and rectangular flat-baked sweet biscuit

Chapter 1: Definition of Biscuits and Cookies

Crackers: Thin crisp wafer or biscuit, usually made of unsweetened dough

Milk: Biscuits with milk as the key ingredient
Marie: Sweet round biscuit with its name embossed on its top surface; the edges embossed with an intricate design. Marie biscuits are
less sweet when compared to glucose biscuits
Cream: Biscuits with a creamy filling
Cookies: Small cake made from stiff, sweet dough rolled and sliced or dropped by spoonfuls on a large, flat pan (cookie sheet) and baked

This report covers:

The organized sector of biscuits industry in India which includes
private and public manufacturers registered with the India Biscuit
Manufacturers Association (IBMA) and Federation of Biscuit
Manufacturer of India (FBMI)

This report does not cover:

Small home and local bakeries owned by individuals

13

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

TOC

Executive
Summary

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry Trends

Competitive
Environment

Industry
Attractiveness

Annexure &
Appendix

Britannia and Parle have the strongest supply chain in the biscuit and cookie industry in India
The chart below depicts the typical supply chain of the biscuits and cookies industry in India. The participants and their roles are also described in the
diagram below:

Chapter 1: Industry Supply Chain

Manufacturers

Intermediaries

Consumption Zone

Distributors
Exports

Manufacturers

Supermarkets
Wholesalers

Stockists
Imports

Retail shops
Importers

Britannia and Parle have a very effective distribution strategy due to which their products are available in all retail formats modern retail,
departmental stores, grocery stores and even small road side cigarette shops

14

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Market Overview

Executive
Summary

TOC

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Competitive
Environment

Industry
Industry
Attractiveness
Attractiveness

Annexure &
Appendix

Biscuit and cookie industry is expected to grow at a CAGR of 14% until 2019
Chart 1: Share of Biscuits and Cookies in Bakery Segment in FY
2014 India
Xx,
xx%

Chart 2: Market Size and Growth of the Biscuits and Cookies industry in India FY 2011-19 (INR bn)
xx

Xx,xx%
xx

Xx,
xx%

xx
xx

CAGR xx%
xx

Chapter 2: Market Size & Growth

CAGR xx%

xx
xx
xx

xx

xx

xx

xx
xx

CAGR xx%
CAGR xx%

xx

xx
xx

xx

xx
xx
Xx,
xx%

FY 2011

FY 2012

FY 2013

FY 2014 FY 2015 (E)FY 2016 (E)FY 2017 (E)FY 2018 (E)FY 2019 (E)
Likely

Current market
xxx

Estimated growth
xxx

Pessimistic

Optimistic

Source: Trade interviews, ValueNotes Analysis

Usage of Three point analysis to arrive at realistic growth

figures:
- Optimistic: Maximum growth that can be anticipated,
provided all the factors* contributing to growth occur as
expected
- Pessimistic: Least growth, provided growth factors are either
delayed or not implemented in the given time frame
- Most Likely: This is the optimized growth which has high
probability of taking place
The estimated growth of the biscuits and cookies industry is based on
various factors including:
- Indias GDP growth
- Growth of organized retail sector
- Growth of processed food & food packaging sector

16

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Industry
Structure

Executive
Summary

TOC

Market
Overview

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Per capita consumption of biscuits is one of the lowest in India

Chart 3: Per Capita Biscuit Consumption 2009-10 (India V/S Other Countries)

Chapter 2: Biscuit Consumption India v/s World

xx

xx

xx
xx

xx

xx
xx

Ireland

Netherland

UK

Italy

Belgium

Switzerland

USA

xx

Japan

xx

xx

India

China

Per Capita Consumption (Kgs)

Source: FnB News, Indian Mirror

xx

17

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TOC

Market
Overview

Industry
Structure

Executive
Summary

Drivers &
Inhibitors

Industry

Industry Trends

Attractiveness

Competitive
Environment

Annexure &
Appendix

Cream biscuits and cookies to eat into the market of glucose biscuits
Chart 5: Biscuits and Cookies Industry Segmentation in FY 2014

Chapter 2: Market Segmentation | By type

Others
xx%

Chart 6: Biscuits and Cookies Industry Segmentation in FY 2019

Others
xx%

Glucose
xx%

Milk
xx%
Cream
xx%

Marie
xx%

Crackers
xx%

18

Cream
xx%

Milk
xx%
Marie
xx%

Glucose:
xx
Cream:
xx
Marie:
xx
Others
xx

Glucose
xx%

Crackers
xx%

Others include arrowroot, health and sweet biscuits and cookies

Source: Trade interviews, ValueNotes analysis

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Industry
Structure

Executive
Summary

TOC

Market
Overview

Drivers &
Inhibitors

Competitive
Environment

Industry

Industry Trends

Attractiveness

Annexure &
Appendix

India is the third largest manufacturer of biscuits in the world, after China and USA
Chart 29: Biscuits and Cookies Production of Organized Sector in India (Lakh Metric tons)

16.1

16.9

17.5

18.5

20.5

21

2012

2013

19.1

14.3

Annexure

12.6

2005

2006

2007

2008

2009

2010

2011

Source: Indian Biscuits Manufacturers Association

The production of the organized biscuits and cookies manufacturing industry has grown at a CAGR of 5.9% from 12.6 lakh metric tons to 21
lakh metric tons between 2005 and 2013
During last ten years, biscuits production of the organized biscuits and cookies manufacturers in the country has almost doubled
On the other hand, production of the unorganized sector is also on rise with multiple small bakery and biscuits and cookies units opening
across the country

19

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Market
Overview

Industry
Structure

Executive
Summary

TOC

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Manufacturers have owned plants as well as the ones operated on a contractual basis
Chart 30: Key Manufacturing Location of Biscuit Manufacturers in India

North
West

South
East
Chandigarh
New Delhi

Annexure

Jaipur

Lucknow
Patna

Ahmadabad
Surat

Bhopal
Nagpur

Mumbai Pune

Kolkata
Bhubaneshwar

Hyderabad

Manufacturing Locations
Bangalore
Chennai

20

Manufacturers like ITC and Parle have their manufacturing

units scattered across the country, whereas the smaller
manufacturers have their manufacturing units confined to

their regional areas.

TOC

Executive
Summary

Market
Overview

Industry
Structure

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Competitive
Environment

Annexure &
Appendix

Raw material prices for comprises more than 50% of retail price of biscuits and cookies

Chart 31: Price Index of Wheat Flour, Sugar, and Butter in Last Few Quarters (INR)
Base Year: FY 11-12=100
135

133
121

116

118

108
100

135

128

116

110

114

111
104

Annexure

93
FY 11-12

FY 12-13

FY 13-14
Flour

Q1 14-15
Sugar

Q2 14-15

Q3 14-15

Butter

Source: Company annual report, ValueNotes research

Up till mid 2014, prices of wheat, vegetable oil, ghee and sugar were increasing on an average by ~20-22% each year. Increasing input cost had
resulted in increasing operating costs of manufacturers. This had left the biscuit manufacturers with very thin margins
However, the scenario seems to be changing in the last 1-2 quarter. The key input prices - wheat and sugar were flat, while palm oil declined y-oy during the quarter. This has resulted to increased profitability of the biscuit manufacturers

21

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Appendix

Executive
Summary

TOC

Industry
Structure

Market
Overview

Drivers &
Inhibitors

Industry
Attractiveness

Industry Trends

Competitive
Environment

Annexure &
Appendix

About ValueNotes

Appendix | Research Methodology

ValueNotes is a full-service market and business research firm. Since 2000, we have helped customers, in India and around the globe, make
better business decisions by providing actionable intelligence. Our customized research solutions, by way of projects and continuing
engagements, have helped serve specific business needs - market entry strategy, choice of location, partner selection, competitive intelligence,
investment appraisal, due diligence, and customer need analysis.
Over the years, ValueNotes has developed considerable domain knowledge in a variety of sectors and industries. More important, we understand
how to develop and deploy appropriate research methodologies best suited for diverse markets. We've developed proprietary research methods
to deal with unorganized, information-scarce markets; and analytical techniques to triangulate, validate and correlate incomplete or unrelated
information
Research Methodology Applied
ValueNotes carries out industry studies designed around optimal use of
secondary (desk) research techniques to gain maximum intelligence with
specific insights and information. The steps carried out for Biscuits and
Cookies Industry in India are as follows:
Secondary research: Intensive secondary research sources
include, but are not limited to,
Print and online business publications
Analyst reports
Press releases

23

Trade publications
Industry intelligence and market analysis: Triangulation
method is adopted to validate data points from the supply
side, demand side, industry reports and trade publications
News releases and publications
Industry Associations: Federation of Biscuits Manufacturers
in India (FBMI) and Indian Biscuit Manufacturers Association
(IBMA)

Government
Websites &
Publications

Industry
Reports/
Trade
Publications

Press
Releases &
Publications
by Industry
Players

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Industry
Intelligence

Biscuits and
Cookies Industry
in India

Industry
Associations
Publications
& News
Releases

TOC

Executive
Summary

Industry
Structure

Market
Overview

Appendix | Abbreviations & Bibliography

Abbreviations

Drivers &
Inhibitors

Industry Trends

Industry
Attractiveness

Bibliography

USD

US Dollar

INR

Indian Rupee

PCI

Per Capita Income

CDM

Cadbury Dairy Milk

CAGR

Compound Annual Growth Rate

GDP

Gross Domestic Product

FnB News

mn

million

New Articles

bn

billion

Company annual reports and company websites

cr

Crore

UAE

United Arab Emirates

UK

United Kingdom

kg

Kilogram

FY

Fiscal Year

SKU

Stock Keeping Unit

Sq km

Square Kilometer

BOPP

Biaxially Oriented Polypropylene

SSI

Small Scale Industries

ITC

Indian Tobacco Company

p.a.

Per Annum

FMCG

Fast Moving Consumer Goods

VAT

Value Added Tax

CENVAT

Central Value Added Tax

US

United States

FBMI

Federation of Biscuits Manufacturers Association

24

Competitive
Environment

ValueNotes conducted secondary research to obtain information on biscuits and

cookies industry in India and referred to following sources:
Indian Biscuit Manufacturers Association (IBMA)
Federation of Biscuits Manufacturers of India (FBMI)

McKinsey Group Institute India Consumer Demand Model

Moneycontrol.com

Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Annexure &
Appendix

Disclaimer: This short industry report is published for general information only. Although high standards have been used in the preparation, ValueNotes is not
responsible for any loss or damage arising from use of this report. The information contained herein is from publicly available data or other sources believed to
be reliable. While we would endeavor to update the information herein on reasonable basis, ValueNotes is under no obligation to update or keep the
information current. This report is the sole property of ValueNotes and must not be copied, either in whole or in part, or distributed or redistributed to any
other person in any form.

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Indian Markets

Outsourcing Intelligence

in case of any queries, mail us at research@valuenotes.co.in

About the author:
As
a senior
analyst at ValueNotes, Tejaswee Shrestha has worked on opportunity
Author
Profile
assessment studies in manufacturing & engineering sector where she has been involved
in the formulating recommendation and entry strategies. Her main focus of studies at
ValueNotes has been customer engagement studies in various industries such as
lighting and engineering industries. Her projects also include due diligence and industry
tracking. She also is a regular writer for ValueNotes where she contributes actively to
blogs and articles.

Other Industry Reports by ValueNotes:

1. Chocolate industry in India
2. Bread industry in India
3. Heat and eat industry in India

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