Wafer Biscuits Market By Form (Cream Filled, Coated) By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online retailers, Others) - Growth, Future Prospects & Competitive Analysis, 2016 - 2028

The global wafer biscuits market report explores the critical analysis of the wafer biscuits industry using key parameters. The report consists of investment strategies, the need for investments in the wafer biscuits industry, and the multiple benefits for investors. Importantly, this report sets out major changes in the global technical regulations for the wafer biscuits industry and how economic and non-economic barriers are helping the market grow. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses include Porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

Key Highlights of the report

How are the major segments performing in the Wafer Biscuits Market?

• The cream-filled form segment led the global market in 2021. Cream-filled biscuits have the largest market share due to the variety of flavors that appeal to children and youth worldwide. The cream-filled wafer biscuits are a nutritious and healthy snack made from refined grain and baked, making it both nutritious and healthy.
• The supermarkets/hypermarkets distribution channel segment accounts for a significant portion of the wafer biscuits market owing to the widespread availability of all varieties and the various offers and discounts available to consumers. The most common types of stores where people can find wafers are supermarkets and hypermarkets.

With urbanization and healthy eating habits, European business dominates the global wafer biscuits market.

Europe dominated the global wafer biscuits market in 2021 due to urbanization and healthy eating habits. The European market has successfully drawn consumers looking for a unique healthy snack. Wafer biscuits are a healthy snack based on raw material (a refined form of grain), gluten-free wafers, and baked products that distinguish the wafer biscuit segment from other bakery products. The convenient and quick lifestyles that modern residents of the region pursue have increased awareness of the nutritious benefits of snack foods. The region's market is also benefiting from the growing demand for wafer biscuits as an alternative to bread and confectioneries.

The United States has the largest North American wafer biscuits market share 

The United States has the largest North American wafer biscuits market share. The United States has a well-established market for wafer biscuits due to rising convenience food consumption and increased demand from the working population due to hectic lifestyles. The rising standard of living and consumers' health consciousness has prompted ongoing lifestyle changes in the country. In addition to their affordability, accessibility, and variety of flavors, wafer biscuits are regarded as a healthy snack option, which has increased demand for them in the North American market. High-profit margins and the proliferation of supermarkets in the United States have increased interest in premium products, creating future growth opportunities.

The wafer biscuit market is growing, and the top players are utilizing tactics to boost their global presence and productivity.

The presence of numerous vendors distinguishes the wafer biscuit market. The top market players have been utilizing tactics to boost their global presence and productivity, such as expansions and introducing new products. Nestle SA, Mondelez International, and The Hershey Company are a few of the market's top global competitors. Global players now make up a significant portion of the market due to their broad product offering, widespread presence, and ongoing market activity. For instance, Jack and Jill Lausanne introduced the first non-coated wafer under the TWO-TONE brand in 2021. It combines two decadent cream flavors with crispy wafer biscuits for a satisfying bite. Similarly, Bahlsen introduced two new limited-edition wafer biscuits in 2020, including Baileys Squares and Bahlsen Choco Leibniz Baileys. The new Bahlsen Baileys Squares consist of a velvety, smooth center layer that has been flavors-infused with Baileys Original Irish Cream, sandwiched between a delicate, light wafer biscuit, and finished with continental chocolate.

Executive Summary

Consumer tastes and preferences are constantly changing, which creates a demand for new wafer biscuit flavors.

Consumer tastes and preferences are constantly changing, which creates a demand for new wafer biscuit flavors. Major biscuit producers are increasing their flavor offerings to boost market demand for wafers. Consumers' most popular flavors worldwide are chocolate vanilla, mixed fruit, pineapple, mango, orange, and strawberry. Fruit and Nut Flavoured Wafers, Hazelnut Wafers, Dark Magic Choco Wafer Biscuits, Hunny Choco Flavors Biscuits, Walnut Wafers, and Coconut Wafers are a few of the new flavored wafers that have been introduced to the global market. The popular vanilla wafer-style cookies sold by Nabisco under the brand name Nilla are well-known in the marketplace. Besides, the growing popularity of healthy snacking has prompted many manufacturers to launch health-conscious biscuits with fortified active ingredients, primarily protein, fiber, and vitamins. In addition, players are positioning/innovating their product line under the healthier snacking category. For example, PT Kaldu Sari Nabati introduced a peanut butter variant of its Nabati Vitakrim vitamin-fortified wafer biscuits in 2021. The Nabati Vitakrim peanut butter cream contains vitamin E. The previous product, Nabati Vitakrim raspberry yogurt cream wafer biscuits, contains vitamin C.

Key investments by the wafer biscuits market players

The consistent market, product quality, and taste have been preserved thanks to the standard investment in production and careful selection of raw materials. As a result, more consumers are willing to purchase wafer biscuits for their nutritional value. Key wafer biscuits market vendors heavily invest in production facility expansion and product offerings. For instance, Voortman Cookies Limited invested and announced the introduction of Mega Wafers in 2021. Voortman Mega Wafers are a larger-than-life variation of the original Voortman wafers. They come in Vanilla, Strawberry, and Chocolate flavors and have three layers of crème wafers.

Some major players in the wafer biscuits market are Antonelli Bros Ltd, Artisan Biscuits Ltd, Bolero S.A., Dukes, The Hershey Company, Kellogg's, Lago Group, Mars, Mondelez International, and Nestlé.

Major Driving Factors for the Wafer Biscuits Market

Rising living standards and shifting eating habits toward organic and healthy foods will drive the global wafer biscuits market. In addition, wafer biscuits are inexpensive due to their wide distribution and high market penetration. People nowadays prefer convenient and quick lifestyles, so the healthy nutritional value of snack foods is gaining prominence. Furthermore, the low cost of wafer biscuits, their easy availability in stores, and their durability aid in increasing market share. Wafer biscuits are also a market innovation, given that traditional biscuits are becoming less and less popular. Thus, wafer biscuits manufacturers introduce novel flavors and additional nutritional elements to seize the market. The global wafer biscuit market holds the largest percentage of the bread and biscuits industry. High-profit margins and external packaging that is colorful and eye-catching cater to the young generation as it fits their psychology. In addition, wafer biscuits contain extra fiber, protein, and vitamins, making them a healthy choice for children and adults.

Major Risks for the Wafer Biscuits Market

Growing consumer medical concerns, especially in developed nations, pose a serious threat to the market's expansion. Therefore, manufacturers are creating new, healthier versions to appeal to this health-conscious market. The rise in the number of alternative products from several competitors constrains the global market.

Key form in the wafer biscuits market

Cream-filled form wafer biscuits have dominated the global market due to the numerous flavors that appeal to children and young people worldwide. The cream-filled wafer is also a nutritious snack, made from refined grains and baked afterward, making it a healthy and tasty treat. Wafer biscuits are a light and convenient snack that helps gain market share. Cream-filled wafer biscuits are the most commonly found in a box at your local supermarket. They are delicious, including an outer biscuit shell with a cream filling. The market for cream-filled wafers has grown recently as more people opt for healthier eating options.

Regional performance analysis - wafer biscuits market

The European region holds the strongest market share for wafer biscuits, whose economy is strong and where there are many vendors. Wafer biscuit demand has grown significantly in this regional market due to industry product innovations and the use of premium ingredients. According to statistics from Jordbruksverket (Government agency), the number of cookies, wafers, and dry biscuits consumed in Sweden increased from 45.1 thousand tons in 2017 to approximately 67 thousand tons in 2020. Manufacturers are stepping up their efforts to provide products with novel shapes and colors, driving the market for wafer biscuits throughout the United Kingdom.

The Asia-Pacific region is anticipated to have the fastest-growing market during the forecasting period owing to the enormous demand for wafer biscuits in China and India, two major regional countries. India and China account for approximately 38% of the world's population. Their economies are the ones that are expanding the quickest globally. The growing regional population also allows wafer manufacturers to expand as consumers consume more wafer products.

The regulatory landscape for the wafer biscuits market

Consumers are switching to more convenient, less expensive foods, like wafer biscuits. The global wafer biscuit market is expected to grow owing to rising urbanization, shifting customer lifestyles, and rising consumer spending power. Manufacturers are developing new, more innovative, and healthier products. They are taking the place of synthetic pesticides and additives in products without affecting their texture, flavor, or quality. They are expanding their current product line to include organic and gluten-free items as they focus on their customers' health. Organic wafer biscuits and gluten-free wafers are becoming increasingly popular. Vendors use premium ingredients and raw materials to offer healthier wafer biscuits. The raw materials used to make organic wafer biscuits are all certified organic.

Market Size of Wafer Biscuits regarding value

The global wafer biscuits market is anticipated to grow at a substantial CAGR of 5% in the upcoming years. The global wafer biscuits industry is estimated to be worth USD 50.2 billion in 2021 and is expected to be worth USD 67.27 billion by 2028.

Major players plans for the future of the wafer biscuits market

Companies in the wafer biscuit industry are strategizing to increase their market share by emphasizing their USP statements, designing appealing product packaging, presenting diverse product folios, and displaying products online, which are the few important winning strategies. As market competition increases, businesses lower their prices for goods, impacting their profit margin. In terms of distribution, promotion, innovation, quality, price, and brand loyalty, these vendors are increasingly in direct competition. Vendors also plan to survive in this hostile environment by differentiating their product and service offerings through a clear and distinctive value proposition.

Segmentation of Global Wafer Biscuits Market -

Global Wafer Biscuits Market – By Form

• Cream Filled
• Coated

Global Wafer Biscuits Market – By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online retailers
• Others

Global Wafer Biscuits Market – By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South-east Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa