Market Size of Wafer Biscuits Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.49 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wafer Biscuits Market Analysis
The wafer biscuits market was valued at USD 6.29 billion for the current year and is expected to register a CAGR of 5.49% over the next five years.
- A wafer is a sort of dry, crispy, thin biscuit that comes in a wide range of shapes, sizes, and packaging. It is a component of ice cream, biscuits, and chocolate bars. Wafers are becoming more popular among consumers as they are a convenient food sold in all retail establishments. Wafer biscuits can be made into cookies by sandwiching cream flavoring between them. Its surface is waffle-patterned.
- Consumers in the market frequently preferred coated wafers, among the most frequently preferred wafer products. Furthermore, the wafer biscuit market is being driven by rising demand for healthy snacks and rising per capita consumption in developing countries. The booming demand for healthy snacking has led many manufacturers to introduce health-efficient wafer biscuits with fortified active ingredients, mainly protein, fiber, and vitamins.
- Further, wafer biscuits hold strong popularity, owing to their diversified flavor ranges and growing popularity among kids and adults. They crave convenient snacking options, which led the wafer biscuit market to record robust growth. Owing to the demand, manufacturers are actively launching their products with novel flavors and packaging options.
- For instance, in August 2022, he Voortman Bakery launched pumpkin spice wafers. The cookies are baked with real pumpkins. They contain no artificial colors or flavors, nor do they contain high-fructose corn syrup. On a general note, the proliferation of supermarkets and hypermarkets has increased the visibility of wafer biscuits in the market, facilitating consumers' identification of new products on the market.
