Wafer Biscuit Market Analysis Europe, North America, APAC, Middle East and Africa, South America - US, China, Germany, UK, Italy - Size and Forecast 2024-2028

Wafer Biscuit Market Forecast 2024-2028

The global wafer biscuit market size is projected to increase by USD 2.87 billion at a CAGR of 5.84% between 2023 and 2028.

Europe stands out as a vital hub in the market, benefiting from its rich heritage of wafer consumption and diverse tastes. The substantial European market offers a wide array of varieties, blending traditional flavors with innovative and premium options. Countries like Italy, Germany, France, and Poland contribute to this market, featuring both multinational giants and artisanal producers. Analysts predict favorable trends and forecasts, making it a key market for global consumer consumption. Further, notable players like A. Loacker Spa AG offer enticing options such as Napolitaner, Cremkakao, Vanilla, Alpine Milk, and Double Choc, contributing to the market's continued growth during the forecast period.

Market Overview

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Market Dynamics and Customer Landscape

The wafer biscuit market continues to thrive with a diverse range of offerings, including Kellogg's innovative creations like ice cream decorations and sandwich cookies. Consumers are increasingly gravitating towards cream-filled options, seeking both indulgence and healthy snacking alternatives enriched with vitamins like Vitamin E and Vitamin C. Brands like Loacker Minis stand out for their use of premium ingredients such as Italian hazelnuts and Madagascar vanilla, ensuring a superior taste experience. With a focus on quality and consumer preferences for non-genetically modified organism (GMO) ingredients, the market also sees the rise of artisanal producers like Pladis and Lago. As these trends drive growth, supermarkets, hypermarkets, and the wider food and beverages industry play essential roles in expanding the reach of wafer biscuits, including chocolate-coated varieties and chocolate flavors catering to the global demand for delightful treats.

Key Market Driver

Innovation in flavors and varieties is notably driving the market growth. Manufacturers continuously leverage this driver by introducing a diverse range of flavors, fillings, and combinations, catering to evolving consumer preferences and expanding market demographics. The relentless pursuit of innovation in wafer biscuit offerings involves the creation of novel taste experiences, including unique flavor combinations, premium ingredients, and limited-edition variants.

However, innovation in flavors and varieties in the market fuels consumer excitement, fosters brand loyalty, and drives market growth by offering a wide array of appealing options that resonate with changing consumer preferences and lifestyles. Thus, from the above-mentioned factors, the global market tends to grow during the forecast period.

Significant Market Trends

The increase in popularity of gluten-free, dairy-free, and allergen-free biscuits is an emerging trend shaping the market growth. An emerging trend in the global market is the rising demand for gluten-free, dairy-free, and allergen-free options. This trend is driven by the increasing prevalence of food sensitivities, allergies, and dietary preferences among consumers worldwide. Gluten-free caters to individuals with celiac disease or gluten intolerance, offering alternatives made from non-gluten-containing ingredients like rice flour, corn flour, or alternative grains. 

Moreover, manufacturers are investing in research, development, and production processes to meet these dietary needs, expanding their product portfolios to capture a larger market share and cater to a broader consumer base seeking safe, allergen-free snack choices that do not compromise on taste or quality. Thus, increases in gluten-free and allergen-free biscuits will boost the market growth and trends during the forecast period.

Major Market Challenge 

The lack of organized retail distribution channels in developing markets is a significant challenge hindering market growth. Many developing countries, such as Nigeria and Brazil, lack established retail distribution channels for biscuits and confectionery products. This factor has limited efficiency concerning the overall domestic distribution of biscuits in developing countries such as India, Nigeria, and Brazil. These countries predominantly comprise price-sensitive consumers who prefer affordability over quality, especially in rural areas. Countries such as China and Brazil are rapidly emerging as key exporters of wafer biscuit products.

However, in these countries, biscuit distribution is still predominantly differentiated based on price. The potential consumer base in these countries continues to offer high growth potential for established international players in the global market. However, distribution problems and low penetration of the biscuits in rural areas of developing countries may limit the global market growth during the forecast period.

Market Segmentation

In terms of segmentation, distribution channels encompass both offline and online platforms, while types range from cream-filled to coated variations. The market experiences robust growth fueled by diverse offerings from industry giants like Kellogg and Pladis, including enticing variants such as Ice Cream Decorations and Sandwich Cookies. Consumers indulge in the creamy delights of cream Filled options, while the allure of Ice creams and chocolate coated treats remains strong. Artisan producers like Lago contribute to the market's richness with unique creations like Chocolate Bars and Coated varieties. These products, rich in protein, fiber, and essential vitamins, find ample shelf space in supermarkets and hypermarkets, catering to varied consumer preferences. 

By Type

In the market, cream-filled wafer biscuits come in various types, offering diverse flavors, textures, and presentations to consumers. These biscuits typically consist of thin, crispy wafer layers sandwiched together with a creamy filling, creating a delightful combination of textures and tastes. Some variations in the biscuits come in bite-sized or miniature forms, providing convenient snacking options and portion control for consumers looking for smaller treats. These cream-filled variants are popular as standalone snacks and are also used in the production of confectionery items like ice cream sandwiches, chocolate-coated bars, and dessert decorations. Their crispy texture and creamy fillings cater to a wide range of consumer preferences, making them a sought-after choice in the market. Hence, the cream-filled segment tends to boost the growth of the market during the forecast period.

By Distribution Channel

The market share growth by the offline segment will be significant during the forecast period. The offline distribution channels refer to the distribution of the biscuits through physical stores, supermarkets, and other brick-and-mortar retail outlets. This method of distribution has been the traditional method of selling the products and has been in use for a long time. 

The offline was the largest segment and was valued at USD 5.48 billion in 2018. 

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Further, offline distribution channels are characterized by the physical presence of retailers or distributors who sell biscuits to customers. This method of distribution offers customers the opportunity to interact with the products physically before making a purchase. It also allows consumers to get the biscuit immediately after purchase without waiting for delivery. However, offline distribution channels have some drawbacks, such as limited reach, high overhead costs, and limited product variety. Nevertheless, they still play a vital role in the market, especially for those who prefer to shop in person. Most customers prefer to buy the biscuits in offline stores because they can check the quality, color, and taste. Thus, the offline segment in the market is expected to witness moderate growth during the forecast period.

Key Regions 

Europe is estimated to contribute 31% to the growth of the global market during the forecast period

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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. European biscuits are gaining popularity in the regional market due to their crispy, multi-layered texture and a variety of fillings, including chocolate, cream, and fruit flavors. Such factors are expected to drive the regional market growth during the forecast period. 

Wafer Biscuit Market Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering- Antonelli Bros Ltd: The company offers wafer biscuits such as I Love Gelato Wafers, Luxury Fan Wafer, and Personalised Wafer Discs.
• Key Offering- Artisan Biscuits Products: The company offers wafer biscuits such as Miller Damsel Wheat, Miller Damsel Charcoal, and Miller Damsel Buttermilk.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

A. Loacker Spa AG, Antonelli Bros Ltd., Artisan Biscuits Products, Bauducco, BOLERO Confectionery of Thrace SA, Ferrero International S.A., Gokulsnacks, Greco Brothers Ltd., Lago Group Spa, Lotte Corp., Mars Inc., Nestle SA, Pickwick Hygienic Products Pvt. Ltd., pladis Foods Ltd., Pure Temptation Pvt. Ltd., Ravi Foods Pvt. Ltd., The Hershey Co., The J.M Smucker Co., Universal Robina Corp., and Mondelez International Inc.

Market trends and analysis report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics

The Market experiences dynamic shifts influenced by consumer trends and economic factors. As concerns about calorie and fat intake rise, calorie restriction and the demand for healthy diet options drive the market. Snack choices like chocolate chip, Kit Kat, and Voortman Cookies reflect changing consumer preferences. Disposable and discretionary income play a pivotal role, impacting market value and the high availability of products in grocery stores. In regions like Dublin, Ireland, and South Korea, economic growth, urbanization, and rising standards of living contribute to market expansion.

Startups focusing on quality, preservative-free options respond to the demand for healthier snacks, challenging traditional junk food. The influence of coffee, Coffee Crisp, and strawberry-flavored wafers adds variety, while concerns about overconsumption, particularly with junk food, highlight the need for balanced diet food options. The use of vegetable oil, wheat flour, and water vapor aligns with dietary preferences. The global wafer biscuits market remains intertwined with factors such as radiation, integrated circuits, and the Pacific Ocean, reflecting the complexity of its market dynamics. The market offers coated wafers with diverse flavors like chocolate bars and cream flavoring, appealing to both kids and adults. Voortman Bakery introduces novel flavors such as pumpkin spice wafers, avoiding artificial colors and high-fructose corn syrup. Sold in hypermarkets, these snacks emphasize visibility with various packaging options. The market responds to rising demand for convenience foods and better-for-you snacking, with fortified ingredients like protein, fiber, and vitamins, meeting the needs of an active lifestyle. Companies like PT Kaldu Sari and Nabati Vitakrim offer fortified options like peanut butter and raspberry yogurt cream wafers, addressing nutritional gaps.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Distribution Channel Outlook
  • Offline
  • Online

• Type Outlook
  • Cream-filled
  • Coated

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Scope
Market Report Coverage	Details
Page number	153
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.84%
Market Growth 2024-2028	USD 2.87 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	4.8
Regional analysis	Europe, North America, APAC, Middle East and Africa, and South America
Performing market contribution	Europe at 31%
Key countries	US, China, Germany, UK, and Italy
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	A. Loacker Spa AG, Antonelli Bros Ltd., Artisan Biscuits Products, Bauducco, BOLERO Confectionery of Thrace SA, Ferrero International S.A., Gokulsnacks, Greco Brothers Ltd., Lago Group Spa, Lotte Corp., Mars Inc., Nestle SA, Pickwick Hygienic Products Pvt. Ltd., pladis Foods Ltd., Pure Temptation Pvt. Ltd., Ravi Foods Pvt. Ltd., The Hershey Co., The J.M Smucker Co., Universal Robina Corp., and Mondelez International Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Growth Analysis Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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