NEW YORK, Jan. 10, 2024 /PRNewswire/ -- The wafer biscuit market size to grow by USD 2.87 billion from 2023 to 2028, progressing at a CAGR of 5.84% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.
Wafer Biscuit Market 2024-2028: Market Segmentation
The wafer biscuit market analysis includes distribution channel (offline and online), type (cream-filled and coated), and geography (North America, APAC, Europe, South America, Middle East, and Africa).
- The market share growth by the offline segment will be significant during the forecast period. Offline distribution channels involve wafer biscuit sales in physical stores, supermarkets, and traditional retail outlets. This approach enables customers to physically examine wafer biscuits before buying, providing a hands-on experience. Additionally, it allows consumers to acquire wafer biscuits promptly post-purchase, eliminating the need for delivery wait times.
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The Wafer Biscuit Market is driven due to constant Packaging Innovations and the focus on diverse flavors and varieties. This innovation, spanning Vanilla flavor, Strawberry flavor, Hazelnut filling, and Caramel filling, has invigorated the Confectionery and Snack Food sector. These crispy thin biscuits, multi-layered snacks, known for their crunchy texture and numerous wafer layers, have propelled Wafer Manufacturing forward. This trend towards variety and texture has notably accelerated the market's growth trajectory.
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Wafer Biscuit Market 2024-2028 - Market Dynamics
Market Trend
The rising demand for dairy-free, nut-free, allergen-free, and gluten-free varieties caters to health and wellness needs. Embracing sustainable practices, manufacturers are focusing on allergen-free offerings, such as chocolate coating options in the Bakery segment. This trend, driven by health-conscious choices for sweet treats and desserts, showcases a growing inclination towards healthier alternatives, shaping the market's growth trajectory.
Significant Challenge
The lack of organized retail distribution channels in developing markets is a significant challenge restricting market growth. This hurdle impacts Brand Competition and adherence to Quality Standards and Regulatory Compliance. Marketing Strategies struggle, especially with Seasonal Offerings, hindering the reach in these regions. As Global Consumption rises, enhancing organized retail networks in developing markets becomes significant to overcome this challenge and unlock the market's full potential.
The wafer biscuit market covers the following areas:
Companies Mentioned
- A. Loacker Spa AG
- Antonelli Bros Ltd.
- Artisan Biscuits Products
- Bauducco
- BOLERO Confectionery of Thrace SA
- Ferrero International S.A.
- Gokulsnacks
- Greco Brothers Ltd.
- Lago Group Spa
- Lotte Corp.
- Mars Inc.
- Nestle SA
- Pickwick Hygienic Products Pvt. Ltd.
- pladis Foods Ltd.
- Pure Temptation Pvt. Ltd.
- Ravi Foods Pvt. Ltd.
- The Hershey Co.
- The J.M Smucker Co.
- Universal Robina Corp.
- Mondelez International Inc.
Company Offering
- A. Loacker Spa AG - The company offers wafer biscuits such as Napolitaner, Cremkakao, Vanilla, Alpine Milk, and Double Choc.
- Antonelli Bros Ltd. - The company offers wafer biscuits such as I Love Gelato Wafers, Luxury Fan Wafers, and Personalised Wafer Discs.
- Lago Group Spa - The company offers wafer biscuits such as Party, Poker, Multipack, and Roll Break.
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Wafer Biscuit Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.84% |
Market growth 2024-2028 |
USD 2.87 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.8 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 31% |
Key countries |
US, China, Germany, UK, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A. Loacker Spa AG, Antonelli Bros Ltd., Artisan Biscuits Products, Bauducco, BOLERO Confectionery of Thrace SA, Ferrero International S.A., Gokulsnacks, Greco Brothers Ltd., Lago Group Spa, Lotte Corp., Mars Inc., Nestle SA, Pickwick Hygienic Products Pvt. Ltd., pladis Foods Ltd., Pure Temptation Pvt. Ltd., Ravi Foods Pvt. Ltd., The Hershey Co., The J.M Smucker Co., Universal Robina Corp., and Mondelez International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Distribution Channel
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Us
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