Global Wafer Biscuits Market Size To Exceed USD 144.12 Billion By 2033 | CAGR Of 3.15%
Category: Food & BeveragesGlobal Wafer Biscuits Market Size To Exceed USD 144.12 Billion By 2033 | CAGR Of 3.15%
According to a research report published by Spherical Insights & Consulting, the Global Wafer Biscuits Market is Expected to Grow from USD 105.74 Billion in 2023 to USD 144.12 Billion by 2033, at a CAGR of 3.15% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Wafer Biscuits Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Cream-Filled Wafer Biscuits, Chocolate-Coated Wafer Biscuits, Plain Wafer Biscuits, Fruit-Filled Wafer Biscuits), By Consumer (Children, Teenagers, Adults, Elderly), By Packaging Type (Flexible Packaging, Rigid Packaging, Bulk Packaging), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Specialty Stores) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/wafer-biscuit-market
The wafer biscuits industry is used to describe the global business concerned with the manufacture, distribution, and sale of wafer biscuits. Wafer biscuits are normally composed of crisp, thin wafers covered with cream, chocolate, or fruit filling. The market encompasses different product forms, which include cream-filled wafer biscuits, chocolate-covered wafer biscuits, plain wafer biscuits, and fruit-filled wafer biscuits. Wafer biscuits may be used together with other baked products, such as cakes, pastries, and ice cream. The market comprises wafer biscuits in different categories from single to multi-layers, as well as various types of packaging and pricing. Moreover, with consumers having increasingly busy lives, the market for convenient, ready-to-eat, on-the-go snacks such as wafer biscuits is on the increase. They are convenient to carry around, store, and eat, and hence their popularity across all age groups. Companies keep inventing new tastes, fillings, and textures to appeal to a wider range of consumers. New offerings such as chocolate-filled, cream-filled, or even healthier alternatives with reduced sugar content or whole grain content are adding to market expansion. However, the wafer biscuits market is very competitive, with many brands and companies selling similar products. Price wars and the necessity for continuous product innovation can lower profit margins and make it challenging for small companies to survive.
The chocolate-coated wafer biscuits segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the wafer biscuits market is divided into cream-filled wafer biscuits, chocolate-coated wafer biscuits, plain wafer biscuits, and fruit-filled wafer biscuits. Among these, the chocolate-coated wafer biscuits segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to chocolate being a world-renowned flavor, and the addition of wafer biscuits gives the product an appeal that can attract children and adults simultaneously, broadening its market base. Wafer biscuits coated with chocolate are usually sold in premium packs, and this enables them to be charged more and marketed as indulgent products, which boosts revenue generation in the market.
The children segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the consumer, the wafer biscuits market is divided into children, teenagers, and adults. Among these, the children segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to wafer biscuits, particularly chocolate-coated and cream-filled versions, which are extremely popular among children due to their sweet, luxurious tastes and playful textures. The fun nature of the snack and the convenience of eating it make children's favorite among their peers. Various wafer biscuit companies target children by using successful marketing campaigns in the form of appealing packaging, mascot characters, and programming during children's TV shows. This helps shape the preferences and buying behaviors of children.
The flexible packaging segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the packaging type, the wafer biscuits market is divided into flexible packaging, rigid packaging, and bulk packaging. Among these, the flexible packaging segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is attributed to flexible packaging providing more cost-efficient options for manufacturers when compared to rigid packaging. With lower production and transportation costs, flexible packaging has found maximum wide acceptance in mass-market products such as wafer biscuits. Lightweight, flexible packaging material such as plastics in the form of wrappers or pouches is easy to carry and provides convenience for the consumer, especially for on-the-go consumption, which is in line with the growing trend of convenience.
The supermarket and hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
Based on the distribution channel, the wafer biscuits market is divided into supermarkets and hypermarkets, convenience stores, online retail, and specialty stores. Among these, the supermarket and hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The growth is driven by these shopping channels providing an extensive variety of wafer biscuit brands and types, ranging from premium to economy. Customers can choose various flavors, pack sizes, and packaging formats, making it more likely to buy wafer biscuits. Supermarkets and hypermarkets have promotions, discounts, and bundle offers that can encourage increased sales of wafer biscuits. Multi-pack promotions or bulk-buying options also attract price-conscious families.
Europe holds the majority share of the global wafer biscuits market during the forecast period.
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Europe holds the majority share of the global wafer biscuits market during the forecast period. The region has a long history of biscuit and snack food consumption. Western European countries have well-developed markets for wafer biscuits, and there is good demand for both conventional and new types. The market has experienced a high demand for wafer biscuits due to product innovation and the utilization of high-quality ingredients.
Asia Pacific is estimated to grow at the fastest pace in the global wafer biscuits market during the forecast period. The growing need for convenience foods, growing middle-class populations, and increasing disposable incomes in nations such as India, China, and Southeast Asian countries are fueling the market's expansion. Regional players are also experimenting with region-specific tastes (such as coconut or green tea), fueling interest further and widening consumer penetration.
Major vendors in the global wafer biscuits market are Nestle SA, Mars, Mondelez International, United Biscuits, Hershey Food Corp, Antonelli Bros, Artisan Biscuits, Bolero, Dukes, Kellogg, Lago Group, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In January 2025, McVitie's added to its Gold Billions wafer portfolio last month with the launch of the Chocolate & Hazelnut flavor. The new variant is launched only in impulse channels for six months.
- In September 2024, Hostess's Voortman brand, a U.S. distributor of crème wafers, introduced a new snack-size version of its popular wafer cookies, both vanilla and chocolate. The new Voortman Snack Size Wafers are the brand's traditional, crunchy vanilla- and chocolate-flavored crème wafers in a convenient on-the-go snacking package.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the wafer biscuits market based on the below-mentioned segments:
Global Wafer Biscuits Market, By Product Type
- Cream-Filled Wafer Biscuits
- Chocolate-Coated Wafer Biscuits
- Plain Wafer Biscuits
- Fruit-Filled Wafer Biscuits
Global Wafer Biscuits Market, By Consumer
- Children
- Teenagers
- Adults
Global Wafer Biscuits Market, By Packaging Type
- Flexible Packaging
- Rigid Packaging
- Bulk Packaging
Global Wafer Biscuits Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Specialty Stores
Global Wafer Biscuits Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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