Biscuit Industry in Australia

Biscuit Industry in Australia By (Name) Course Professor Institution Date Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc6140208 \h 3Introduction PAGEREF _Toc6140209 \h 4Macro-environmental Analysis PAGEREF _Toc6140210 \h 4Political Factors PAGEREF _Toc6140211 \h 4Economic PAGEREF _Toc6140212 \h 4Social Factors PAGEREF _Toc6140213 \h 5Technological PAGEREF _Toc6140214 \h 6Legal Aspects PAGEREF _Toc6140215 \h 6Environmental Factors PAGEREF _Toc6140216 \h 6Segmentation and Targeting PAGEREF _Toc6140217 \h 6Industry Progress PAGEREF _Toc6140218 \h 6Industry Structure PAGEREF _Toc6140219 \h 7Category Segmentation PAGEREF _Toc6140220 \h 7a)Sweet biscuits PAGEREF _Toc6140221 \h 8b)Crackers and crispbread PAGEREF _Toc6140222 \h 8c)Chocolate biscuits PAGEREF _Toc6140223 \h 8d)Flavored snacks PAGEREF _Toc6140224 \h 8e)Other PAGEREF _Toc6140225 \h 8Geographical Segmentation PAGEREF _Toc6140226 \h 9Demographic Segmentation PAGEREF _Toc6140227 \h 9Psychographics Segmentation PAGEREF _Toc6140228 \h 9Recommendations PAGEREF _Toc6140229 \h 11Conclusion PAGEREF _Toc6140230 \h 11List of References PAGEREF _Toc6140231 \h 12 Executive Summary The biscuit industry in Australia has been on the decline for the past five years. The influx of imports has adversely affected the domestic market. Moreover, consumers have increasingly become aware of the need to consume healthier foods. The macro environmental analysis demonstrates the challenges the industry has been facing. In order to reach a wide customer base, the manufacturers have segmented the market by creating products that target certain consumers. Additionally, the Australian market is highly concentrated with the top three companies accounting for more than 80% of the market. In order to improve the industry, the report makes the following two recommendations. Firstly, companies should target the young generation with healthier foods. Secondly, the manufacturers need to come up with new products to counter the competition from imports. The domestic companies need to ensure that their biscuits are healthier to reach to consumers that are health-conscious. Biscuit Industry in Australia Introduction The chosen product for this report is the biscuit industry in Australia. The industry is expected to generate a revenue of $780 million at the end of 2018 (IBISWorld, 2018). Despite the essence of this industry in the country, it has faced challenging conditions in the past five years. The report analyzes the macro environmental factors affecting the biscuit industry in Australia. Next, the report analyzes the segmentation and targeting of the industry. The report then makes recommendations on the segment of the market the industry should focus on to remain in the market. Macro-environmental Analysis Political Factors Political trends affect the biscuit industry in Australia. Australia has experienced changing regulation regarding food standards as well as marketing actions. Public health policies are demanding for healthier foods with low content of sodium and sugar (Lindberg, Nichols and Yam, 2017). The current policies push for the public to become conscious when purchasing foods. Economic The Australian biscuit industry must remain aware of the changing inflation, economic grow...