Waffle Maker Market Size
|2020 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Waffle Maker Market Analysis
The Waffle Maker Market is projected to register a CAGR of 4% during the forecast period (2021-2026).
The waffle maker is part of the small kitchen appliances market. The expansion of large categories of waffle makers is fuelled by the increasing integration of quality and creativity. Waffle makers are expected to grow at a rapid rate as people's lifestyles change around the world, driven by rising disposable income. Waffles are also considered a staple breakfast food by buyers of various socioeconomic groups and western countries such as the United States and Canada. Besides, the growing consolidation of value-added features in waffle makers is supporting the availability of higher-quality products to consumers and has crystallized market growth across the world.
Because of the ease of the cooking cycle, low operating costs, high efficiency, high productivity, less counter space occupation, and ease of cleaning and sanitizing are attracting more buyers to purchase Waffle creators for family cooking. Expanding individual extra cash as well as a savvy item collection is also expected to increase interest in the waffle producer's market. Furthermore, low energy consumption and growing health issues are the primary concerns.
Many international companies are focusing on new waffle-making product advancements. These Waffle makers also have a compact design for commercial kitchens and robust features such as timers and temperature controls that help to save energy. Furthermore, the growing trend of developing economies turning to western foods is expected to propel growth in the waffle producer's market at a rapid pace over the forecast period.
However, long pre-heat times, longer bake times, and daily maintenance are some of the major industry constraints that are expected to impact the global waffle maker market.
COVID-19 has negatively impacted on waffle maker market due to restrictions on manufacturing activities and the supply chain. The lockdown across the globe has forced waffle maker manufacturers to temporarily hold the production. The expansion of commercial infrastructure and technological advancements will guarantee growth despite the temporary lull experienced during the COVID-19 outbreak. Since the pandemic forced people to stay at home, niche kitchen appliances such as an electric tandoor, hand blender, waffle makers, pizza makers, popcorn makers, and cotton candy makers have seen an increase in demand.
Waffle Maker Market Trends
This section covers the major market trends shaping the Waffle Maker Market according to our research experts:
Commercial Application is Dominating the Waffle Maker Market
Waffle as breakfast is one of the market's most important growth factors. Restaurants are increasingly focusing on serving waffles to lead the breakfast domain, as well as a variety of food items such as sweet and exquisite waffles. Restaurants are fiercely competing to serve better breakfast meals after the introduction of all-day breakfast menus by major quick-service restaurants. Waffle House, for example, offers waffles with hash browns and covered or chunked eggs as a breakfast choice. With the acceptance of waffles as a breakfast meal, restaurant's desire to offer unique offerings will play a big role in the commercial waffle maker market's growth.
The rising popularity of waffles with health benefits is one of the latest trends that will gain momentum in the commercial waffle maker market in the coming years. The demand for commercial waffle makers is skyrocketing around the world, owing to their high nutritional value and various added benefits. Restaurants are focusing on introducing waffle dishes with nutritional value as the market for waffles grows. Waffles stuffed with a burger patty and fried eggs are already available at one of the Santa Clara eateries.
In the case of the commercial application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting toward ready-to-eat and frozen food products. A large part of new households includes working singles who prefer to dine out rather than setting up their kitchens.
The Asia Pacific Market is Expected to Grow at a Faster Pace
Asia-Pacific ranks as the fastest-growing market with a significant growth rate over the forecast period, led by rapid urbanization and the expanding middle-income population base. The growing popularity of western food eating habits in countries such as India and China is pushing up demand for waffle makers. The growing number of cafés, restaurants, hotels, homes, and businesses, as well as increasing consumer purchasing power in the area, all contribute to the market value. Consequently, increased demand has resulted in decreased prices of the waffle maker, especially in developing countries.
On the other hand, raising awareness about healthcare issues in the area, which contributes to consuming nutritious, low-energy-consumption homemade food, the North American market is expected to rise at a healthy pace.
Waffle Maker Industry Overview
The waffle maker market tends to be competitive, as it is characterised by the presence of many players. Players are attempting to distinguish their products based on features such as heat control level, end-of-baking buzzer, and even heat distribution. Several companies are attempting to develop waffle makers with improved features to minimise bake cycle time and boost productivity. Players are now attempting to follow safety and quality requirements. Some of the most important players in the waffle maker market are Hamilton Beach, Breville, Krampouz, Krups, Cuisinart, Nemco Food Equipment, Star Manufacturing International, Waring, BELLA, Proctor Silex, Oster, All-Clad, and Others.
Waffle Maker Market Leaders
*Disclaimer: Major Players sorted in no particular order
Waffle Maker Market News
- April 2021 - With 86,833 checked five-star ratings and the title of "Bestselling Waffle Iron," the Dash Mini Waffle Maker has been entered as one of Amazon's top-ranking breakfast appliances.
- March 2021 - Cerelia Group buys US Waffle and gets strategic investment from Continental Grain. US Waffle is a company that specialises in making quality pancakes and waffles with only the finest and freshest ingredients.
Waffle Maker Market Report - Table of Contents
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Value Chain analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.7 Technology Innovation in the industry
4.8 Impact of Covid 19 on the market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Stove-Top Waffle Irons
5.1.2 Classic Round Waffle Makers
5.1.3 Square Belgian Waffle Makers
5.1.4 Round Belgian Waffle Makers
5.2 By End User
5.3 By Distribution Channel
5.3.1 Multi-Branded Stores
5.3.2 Specialty Stores
5.3.4 Other Distribution Channels
5.4 By Geography
5.4.1 North America
5.4.3 Asia Specific
5.4.4 South America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Hamilton Beach
6.2.5 Proctor Silex
6.2.10 Nemco Food Equipment
6.2.11 Star Manufacturing International
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Waffle Maker Market Research FAQs
What is the current Waffle Maker Market size?
The Waffle Maker Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in Waffle Maker Market?
Hamilton Beach, Krampouz, Cuisinart, Krups and Breville are the major companies operating in the Waffle Maker Market.
Which is the fastest growing region in Waffle Maker Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Waffle Maker Market?
In 2024, the North America accounts for the largest market share in Waffle Maker Market.
What years does this Waffle Maker Market cover?
The report covers the Waffle Maker Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Waffle Maker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Waffle Maker Industry Report
Statistics for the 2024 Waffle Maker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Waffle Maker analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.