Market Overview:

The world wafer biscuits market is estimated to grow at a CAGR of 4.3% throughout the forecast period, to reach a value of USD XX billion by 2023. A wafer is a dry, crispy, and crunchy thin type of biscuit that comes in different shapes, sizes, and packaging. Wafers are employed with chocolate bars, ice cream, and cookies. Customers are shifting toward convenience foods, such as wafer biscuits, that are affordable.

Market drivers and restraints:

The world wafer biscuit market will witness growth in terms of revenue throughout the forecast period. The growth is majorly driven by changing customer lifestyles and preferences, the demand for convenience foods, and the increase in disposable income. These factors have resulted in the elevated consumption of bakery products, which is driving the growth of the wafer biscuit market. The growing demand for convenience food, together with an increase in disposable incomes, drive the growth of the wafer market. Wafers can be employed in ice creams and chocolate bars, which add to the market growth. Health concerns pose a major threat to the market, particularly in developed countries. Thus, the manufacturers are developing new healthier varieties to attract the health conscious population.

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Report segmented as:

By form:

cream filled
coated
By application:

chocolate bars
ice cream decorations
sandwich cookies
By distribution channel:

super markets/hyper markets
convenience stores
specialty food stores
online retailers
others
Geographical analysis:

The European region leads the world wafer biscuit market, with the biggest share. This is due to the high standard of living and the presence of many established vendors in the region. North America is the second biggest market for wafers, with the United States leading in the region. The Asia-Pacific region is estimated to be the fastest-growing market throughout the forecast period, which can be attributed to a shift in customer preference and the increasing disposable incomes.

Important market players:

The key players operating in the world wafer biscuit market are Nestle, Mars, Bahlsen, Hershey Food Corp, Streit's, Cadbury, Greco Brothers, Keebler Vanilla Wafers, Mondelez International, Pickwick, Lotte, Bauducco, The Manner Original Neapolitan Wafers, United Biscuits, Camy Wafer Co. & Bakewell Biscuits Pvt. Ltd.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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