Global Wafer Biscuits Market - Segmented by Form, Application, Distribution Channel, and Geography (2018 - 2023)
The global wafer biscuits market is expected to register a CAGR of 4.3% during the forecast period, 2018 to 2023. Europe dominates the global wafer biscuits market with a share of 31%. Innovation is the key to gaining market share, thus most manufactures constantly innovating their products to suit consumers’ needs. Nestle, is one of the major manufacturers of wafers biscuits who are constantly innovating.
Consumers losing their taste for traditional biscuits - Triggering the Wafer Biscuits Market Growth
The growth is primarily driven by changing consumer lifestyles and preferences for products, the demand for convenience foods, and the rise in disposable income also acts as a micro factors. Consumers are constantly looking for innovation in snacks in the market. Most consumers are losing their taste for traditional biscuits, which acts as an opportunity for products such as wafer biscuits to capture the market. There has been an influx of entrants in the wafer biscuit market which are competing with major brands due to their products being different, a culmination of biscuits and wafers. Due to the growing number of health conscious consumers a large number of companies are introducing healthy Wafer Biscuits, which is an emerging trend in the industry.
Super/ Hyper Markets to Lead the Market by Distribution Channel
The global wafer biscuit market is segmented by distribution channel into super/hyper markets, convenience stores, food specialty, online retails and others. Super/hyper markets accounts for the majority of the sales of global wafer biscuit market. Developing countries such as India has high propensity for expanding the number of super/ hyper markets. Convenience stores are expected to grow in a substantial growth rate during the forecast period.
European region Continues to dominate the global wafer biscuit market
The European region dominates the global wafer biscuit market, with the largest share. This is due to the high standard of living and the presence of many vendors in the region. North America is the second largest market for wafers biscuits, with the United States leading in the region. However, the growth in consumption of wafers biscuits has been on the decreased in this region, due to growing health concerns among consumers. The Asia-Pacific region is expected to be the fastest-growing market during the forecast period, which can be attributed to a shift in consumer preference and the rising disposable incomes. China and India are the major markets in this region.
April 2017: Pink Panther wafers which was once a popular snack is expected to make a comeback in the global market in 2018. The revamped biscuits will include a thicker layer of vanilla cream.
September 2017: Austrian manufacturer of wafer, biscuits and confectionery production systems Haas Group is now officially part of the Bühler Group.
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (in excel).
Value chain analysis
Consumer behavior analysis in country level
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