Wafer Biscuits Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The wafer biscuits market is projected to register a CAGR of 5.12%, during the forecast period.

• The increasing urbanization, which can be attributed to the change in demographics and high disposable income, is fuelling the growth of the wager biscuits market. The high profit margins and proliferation of supermarkets have led to a growing interest in premium products, thus providing growth opportunities in the future.
• As the consumers crave for convenient breakfast options, the breakfast biscuit segment continues to record robust growth. One aspect that attracts customers is the availability of convenient and healthy on-the-go snack, and breakfast biscuits fit into this bracket.

Scope of the Report

The wafer biscuit market is segmented by form and distribution channels. On the basis of form, the market is classified cream-filled and coated. On the basis of the distribution channel, it is classified as super/hypermarkets, convenience stores, online retail, and others. Super/hypermarkets account for the majority of the sales of the global wafer biscuits market. Moreover, the study provides an analysis of the wafer biscuits emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, the Middle East & Africa.

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Key Market Trends

Increasing Demand for Sweet Biscuits

The growing preference for convenient snacking, coupled with easier consumer accessibility through the advancing retail sector, is one of the few factors augmenting the growth of wafer biscuits market, globally. Moreover, the booming demand for healthy snacking has led many manufacturers to introduce health-efficient biscuits with fortified active ingredients, mainly protein, fibre, and vitamins. For instance, United Biscuits offers a range of fortified biscuits through its brand, McVities. In 2017, the brand launched McVitie’s Digestive Thins, with the innovation of digestive biscuits covered with milk chocolate. Sandwich biscuits are growing at the fastest pace, owing to the diversified flavor ranges and growing preferences among kids and the younger generation. In April 2018, Kraft Heinz introduced a new biscuit brand, KRAFT JIF JAF, targeting young Chinese adults. The new line of biscuits covered a range of sandwich biscuits, wafers, and butter cookies in unique flavor combinations, such as cheese, matcha tea and chili.

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