Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Wafer Biscuits market projected to drive by the influential change in consumer eating habits
Global Wafer Biscuits market expected to witness growth due to the rise in urbanization, changing lifestyles, and eating habits. The global wafer biscuits market has attained a positive response from consumer healthy eating habits. This market has successfully captured the attention of the consumers seeking an innovative healthy snack. Wafer biscuits considered to be a healthy snack because of its raw material (a refined form of grain), gluten-free wafers, and baked products that make this biscuit segment unique from other bakery products. Additionally, these wafers biscuits came into different flavors and made of various ingredients such as oats, protein, fiber, and vitamins.
Moreover, wafer biscuits have successfully penetrated the traditional biscuits market and maintaining its position exceptionally as they understood their market needs that want something good in taste and healthy too. Therefore, considering health as a significant component wafer biscuit are low in sugar, calories, fat, and preservatives along with it, it is made from vegetable oil and skim milk. Thus, high nutritional components made wafer biscuit a healthy snack.
Furthermore, the price of the wafer biscuits market plays a crucial role because of the high competition in the market. There are domestic as well as international biscuits brands in the market, which holds a significant share of the wafer biscuits market. Therefore, the considerable competition will lead companies to continue innovation and to increase quality to remain there in a competitive market.
Form Type Overview in the wafer biscuits market
Based on form Type, the wafer biscuits market segmented into cream-filled biscuits and coated biscuits. Coated biscuits have a huge demand in the market, mainly among youth. It is owing to unique flavors, packaging, and sizes that have created the need for wafer biscuits in the market. The wafer biscuits are the healthier version of the biscuits, which has no gluten and made of refined grain, oats, fiber, and vitamins. Thus, this creates potential demand for the adult population in the forecast period as well.
Application Overview in the wafer biscuits market
Based on the application, wafer biscuits classified into sandwiches, cookies, ice cream decoration, and Chocolate bars. Sandwiches have higher demand comparatively with others as sandwiches create a crunchy layer in wafer biscuits, which is why it used as munching snack that has different flavors and tastes. Therefore, the demand for sandwiches will increase along with chocolate bars in the forecast period from 2020-2027.
Distribution Overview in the wafer biscuits market
Based on the distribution channel, the Global Wafer biscuits market classified into Retail Outlets, Wholesalers, Online Stores, and supermarkets/hypermarkets. Supermarkets/hypermarkets have captured the largest share in 2019, as expected to increase in the future as well. Owing to the increasing working-class population, they need to maintain diet while working; thus, wafer biscuits are a suitable option for healthy munching snacks and readily available in supermarkets/hypermarkets and comes in different flavors too.
Regional Insights Overview in the wafer biscuits market
Based on geography, the global Wafer biscuits market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The European region has dominated the global wafer biscuit market, with the largest share owing to urbanization and healthy eating habits. Whereas, the Asia-Pacific region is the second-largest market and expected to grow during the forecast period.
Global Wafer Biscuits market: Competitive Landscape
Companies such as Nestle SA, Mars, Mondelez International, Hershey Food Corp, Antonelli Bros, Bolero, Dukes, Kellogg, Lago Group, and others are the prominent players in the Global Wafer Biscuits market.