The wafer biscuits are the type of baked biscuits that have crunchy layers. The wafer biscuits mainly consumed as a light munching snack, and it is preferred to be a healthy substitute for regular biscuits available in the market. Wafer biscuits considered as an on-the-go snack and fit perfectly in the bracket of a healthy snack item. The wafer biscuits are full layers of sandwiches, which are crunchy but not loose, crispy and smooth, and non-greasy in the mouth. In addition to good taste, the important thing is health as wafer biscuits have low sugar, low fat, low calories, and no preservatives and even made with vegetable oil and skim milk.
Moreover, wafer biscuits come in different flavors and sizes. The raw material used in wafer biscuits has nutritional ingredients that make it a healthy, munching snack. The wafer biscuits are a refined form of grains that makes it unique from other variants of biscuits in the market. Therefore, the demand for wafer biscuits is increasing due to gluten-free snacks that have nutritional ingredients in it.
Global wafer Biscuits market projected to witness a CAGR of over 6% in the forecast period. Increasing living standards and changing eating habits towards organic and healthy food will boost the global wafer biscuits market. Additionally, wafer biscuits are nominal in prices because of the high market penetration and easy availability in the market.
Nowadays, people are pursuing convenient and fast lifestyles; thus, the healthy nutritional value of snack foods is getting more and more attention. Besides, nominal price, easy availability of wafer biscuits on stores, and durability of wafer biscuits helps in increasing market share. Further, wafer biscuits are the innovation in the biscuits market as people are losing their taste of traditional biscuits. Therefore, wafer biscuits bring new taste and other nutritional components in the form of wafer biscuits to capture the market.
Furthermore, the global wafer biscuits market holds the most significant share in the bread and biscuits industry. Owing to, high-profit margins and external packaging are colorful, which is eye-catching and cater to the young generation as it fits in their psychology. Moreover, the additional fiber, vitamin, and protein present in the wafer biscuits make it a good option for young as well as the adult population.
With the effects of the rising standard of living and increasing concern towards healthy living and eating habits, the consumer lifestyle has been continuously changing. Wafer biscuits are a gluten-free and refined form of the grain, considered as tasty and crunchy snack. Therefore, it is a healthy snack option along with its durability, affordability, availability, and different flavors that have increased wafer biscuits demand in the market.
The nominal price of the biscuit and its availability on stores, supermarkets/hypermarkets, and high penetration of wafer biscuits has captured the market growth. The standard investment in production and selective in raw material has helped in maintaining a constant market and quality and taste of the product. Therefore, more and more consumer is willing to buy wafer biscuits for their nutritional values.
Based on form, the global wafer biscuits market bifurcated into cream-filled biscuits and coated biscuits. Cream filled biscuits captured the most market owing to different flavors that attract children as well as youth worldwide. Along with it, the wafer is healthy snacks as it is made from the refined form of grain and later gets baked, which makes it is a healthy and nutritional snack. Wafer biscuit is light and on the go snack, which helps in gaining maximum share in the market.
Based on application, wafer biscuits classified into sandwiches cookies, ice cream decoration, and Chocolate bars. Sandwich cookies expected to capture the market in the forecast period from 2020-2027. The taste, colorful external packaging attracts the young population, and due to its nutritional value, the adult population started consuming as a healthy snack option.
Based on the distribution channel, the global wafer biscuits market classified into Retail Outlets, Wholesalers, Online, and supermarkets/Hypermarkets. Supermarket/hypermarket has captured the largest share in 2019 and expected to grow in the forecast period as well. Due to the easy availability of all the flavors along with different offers and discounts provided to the consumers will drive the global wafer biscuits market.
Based on geography, the global Wafer biscuits market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe dominates the global wafer biscuit market, with the largest share owing to the presence of many vendors and a high standard of living followed by the population. The Asia-Pacific region is the second leading market and expected to grow during the forecast period from 2020-2027. China and India witness a rise in the market demand for wafer biscuits due to the increase in urbanization in the region.
Companies such as Nestle SA, Mars, Mondelez International, Hershey Food Corp, Antonelli Bros, Bolero, Dukes, Kellogg, Lago Group are prominent players in the global wafer biscuits market.
By Form Types
By Distribution Channel