Global Wafer Biscuit Market 2017-2021
About Wafer Biscuit
A wafer is a dry, crispy, and crunchy thin type of biscuit that comes in different shapes, sizes, and packaging. Wafers are used with chocolate bars, ice cream, and cookies. Consumers are shifting toward convenience foods, such as wafer biscuits, that are affordable. The increasing urbanization, changing consumer lifestyles, and growing consumer spending power are factors that are expected to drive the growth of the global wafer biscuit market during the forecast period.
Technavio’s analysts forecast the global wafer biscuit market to grow at a CAGR of 4.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global wafer biscuit market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wafer Biscuit Market 2017-2021
Technavio recognizes the following companies as the key players in the global wafer biscuit market: Mars, Nestlé, THE HERSHEY COMPANY, and pladis.
Other Prominent Vendors in the market are: Antonelli Bros, Artisan Biscuits, Bolero, Dukes, Kellogg, Lago Group, and Mondelēz International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in demand for organic and gluten-free wafer. Gluten is a type of protein that is mainly used in manufacturing bread and other bakery products. Gluten can cause inflammation of the small intestine and can damage the skin and brain in individuals with celiac disease. In addition, it is difficult for the body to absorb nutrients from such food products.”
According to the report, one driver in the market is innovative packaging. Innovative and attractive packaging is one of the best ways to attract customers and increase sales. It can help in preventing the degradation of food quality during transportation. It also helps in maintaining the freshness and preventing food loss because of damage. Innovative packaging extends the shelf life of products and provides information on storage. Wafers contain wheat flour, fat, sugar, and many flavoring agents, which are sensitive to moisture. They have a high fat level and are fragile in nature. Therefore, manufacturers must use suitable packaging to protect wafers from damage.
Further, the report states that one challenge in the market is rising demand for healthy snacks. Consumers have become more aware of their health and nutritious food products because of the increasing media coverage. Young consumers also refer to health blogs to get a better idea about the health issues associated with the consumption of different foods and beverages. Obesity is a common health concern worldwide, which can also lead to heart diseases. In 2015, more than one-third of the US adult population was obese.
Mars, Nestlé, THE HERSHEY COMPANY, and pladis, Antonelli Bros, Artisan Biscuits, Bolero, Dukes, Kellogg, Lago Group, and Mondelēz International.
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