Frozen Belgian Waffles Market Forecast, Trends, Scope by 2031
The frozen Belgian waffles market size is projected to reach US$ 2.05 billion by 2031 from US$ 1.37 billion in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. The increasing demand for gluten-free products is likely to continue as a key trend in the market.
Frozen Belgian Waffles Market Analysis
Quick service restaurants (QSRs) have gained major traction as consumers increasingly prioritize convenience owing to their fast-paced lifestyle. Due to the growth and expansion of QSRs, the demand for frozen Belgian waffles has also increased. The QSRs mainly demand frozen products, such as waffles, which require less preparation time and are easy to use. This helps the QSRs provide consumers with their food quickly. Thus, the expansion of quick-service restaurants is driving the frozen Belgian waffles market
Frozen Belgian Waffles Market Overview
Frozen Belgian waffle is a convenience food product mainly consumed as breakfast. Consumers prefer ready-to-eat, microwavable, and ready-to-prepare food products as they are highly suitable for on-the-go consumption and require minimal preparation time. Additionally, after the pandemic, out-of-home consumption drove the demand for frozen Belgian waffles from the foodservice sector. Owing to the aforementioned factors, frozen Belgian waffles are witnessing increasing global demand, mainly in developed countries. However, due to the strong cultural influence on people's consumption habits in various developing countries, including India, Japan, and China, there is a high predominance of traditional breakfast food. Thus, the adoption of frozen Belgian waffles in these countries is limited, which is creating hurdles in the growth of the market.
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Frozen Belgian Waffles Market: Strategic Insights
Frozen Belgian Waffles Market
-
CAGR (2023 - 2031)
5.2%
-
Market Size 2023
US$ 1.37 Billion
-
Market Size 2031
US$ 2.05 Billion
Market Dynamics
GROWTH DRIVERS
- Expansion of Quick Service Restaurants
- Product Innovations and Strategic Initiatives
FUTURE TRENDS
- Preference for Low-Sugar Tonic Water
OPPORTUNITIES
- Advancements in Cold Chain Infrastructure
Key Players
- H E B, LP
- DELY Wafels SRL
- Deligout Sprl
- Avieta SA
- VDB Frozen Food
- Kellanova
- Conagra Brands Inc
- General Mills Inc
- McCain Foods Ltd
- Belgian Waffles Thijs
Regional Overview
Market Segmentation
Product Type
- Brussel waffles
- Liege Waffles/Belgian Sugar Waffles
Nature
- Plain
- Flavored
Category
- Gluten-free
- Conventional
End User
- Foodservice
- Food Retail
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Frozen Belgian Waffles Market: Strategic Insights
-
CAGR (2023 - 2031)5.2% -
Market Size 2023
US$ 1.37 Billion -
Market Size 2031
US$ 2.05 Billion
Market Dynamics
- Expansion of Quick Service Restaurants
- Product Innovations and Strategic Initiatives
- Preference for Low-Sugar Tonic Water
- Advancements in Cold Chain Infrastructure
Key Players
- H E B, LP
- DELY Wafels SRL
- Deligout Sprl
- Avieta SA
- VDB Frozen Food
- Kellanova
- Conagra Brands Inc
- General Mills Inc
- McCain Foods Ltd
- Belgian Waffles Thijs
Regional Overview
Market Segmentation
- Brussel waffles
- Liege Waffles/Belgian Sugar Waffles
- Plain
- Flavored
- Gluten-free
- Conventional
- Foodservice
- Food Retail
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Frozen Belgian Waffles Market Drivers and Opportunities
Expansion of Quick Service Restaurants
Consumers are not able to focus on their personal lives due to the increasing number of single-person households and dual-income families. Therefore, they seek convenient products that help save time and effort. QSRs and fast-food restaurants offer mass-produced products in no time, offering huge convenience to consumers. These restaurants are becoming popular because they offer a variety of food in less time and at affordable prices. Consumers seek convenience and quick service with their food. According to the National Restaurant Association, QSR enjoyed a 3% traffic uptick in 2023 in the US than 2020. QSR caters to the needs of the consumers as they offer to sit and dine, along with numerous services such as drive-thru, takeout, and home delivery, which suit the modern lifestyle of the consumers. Due to the growth and expansion of QSRs, the demand for frozen Belgian waffles has also increased.
Advancements in Cold Chain Infrastructure
The expansion of cold chain capacity in emerging countries varies for each country. In most countries, such as Mexico, South Africa, and Kenya, the cold chain is present in urban areas and transportation terminals, such as airports, where exporters may be situated. Moreover, market service providers are constantly enhancing their technologies to stay ahead of the competition and maintain integrity, efficiency, and safety across the globe. For example, vendors have implemented Radio Frequency Identification (RFID) technology and Hazard Analysis and Critical Control Points (HACCP) to enhance efficiency with smaller shipments. Further, to provide additional service to consumers, they are expanding their multi-compartment refrigerated vehicle fleets. Thus, advancements in cold chain infrastructure are expected to offer lucrative opportunities for the frozen Belgian waffles market players.
Frozen Belgian Waffles Market Report Segmentation Analysis
Key segments that contributed to the derivation of the frozen Belgian waffles market analysis are product type, nature, category, and end user.
- Based on product type, the frozen Belgian waffles market is divided into Brussel waffles and Liege waffles/Belgian sugar waffle. The Brussel waffles segment held a larger market share in 2023.
- By category, the market is bifurcated into plain and flavored. The flavored segment held a larger share of the market in 2023.
- By category, the market is bifurcated into conventional and gluten-free. The conventional segment held a larger share of the market in 2023.
- In terms of end use, the market is segmented into foodservice and food retail. The food retail segment held a significant share of the market in 2023.
Frozen Belgian Waffles Market Share Analysis by Geography
The geographic scope of the frozen Belgian waffles market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Constant changes in consumer preferences and a rise in diverse culinary experiences led to the popularity of convenience food options, which boosted the demand for frozen Belgian waffles in Europe. Consumers are also seeking convenient and versatile options for various dishes, such as breakfast plates and sweet baked goods, which contributes to the growing sales of frozen Belgian waffles.
A rise in the working population and dual-income families promotes the consumption of processed foods such as frozen Belgian waffles in Europe. For instance, Eurostat reported that ~73.1% of the population in the region, amounting to 250 million people, were working professionals in 2021. In the same year, the Department of Public Health of Belgium estimated that ultra-processed food and drink consumption increased to 44% in the UK and 14% in countries such as Italy and Romania.
The strong presence of the retail sector and inclination toward online shopping are boosting the demand for frozen Belgian waffles in Europe. Retailers offer frozen Belgian waffles from various brands and implement promotional strategies to boost sales. For instance, the brands that provide frozen Belgian waffles extend significant discounts and deals to draw in customers who prefer them.
Frozen Belgian Waffles Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 1.37 Billion |
Market Size by 2031 | US$ 2.05 Billion |
Global CAGR (2023 - 2031) | 5.2% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Product Type
|
Regions and Countries Covered | |
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Frozen Belgian Waffles Market News and Recent Developments
The frozen Belgian waffles market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A key recent development in the frozen Belgian waffles market is mentioned below:
- Kellanova launched higher-protein breakfast offerings: Eggo Fully Loaded Frozen Belgian Waffles, which contain 10 grams of protein in each two waffle servings. These waffles are available in two flavors: Chocolate Chip Brownie and Strawberry Delight. (Source: Kellanova, Company Website, May 2024)
- Central Foods, a frozen foods manufacturer, launched its KaterBake Belgian Waffle in vegan form. (Source: Central Foods, Press Release, January 2024)
Frozen Belgian Waffles Market Report Coverage and Deliverables
The "Frozen Belgian Waffles Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Frozen Belgian waffles market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Frozen Belgian waffles market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter's Five Forces and SWOT analysis
- Frozen Belgian waffles market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the frozen Belgian waffles market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The increasing preference for gluten-free products is likely to emerge as a key trend in the market in the future.
Europe accounted for the largest share of the market in 2023.
The expansion of quick-service restaurants and business development initiatives by key market players are major factors contributing to the growth of the market.
The market size is projected to reach US$ 2.05 million by 2031.
H E B, LP, DELY Wafels SRL, Deligout Sprl, Avieta SA, VDB Frozen Food, Kellanova, Conagra Brands Inc, General Mills Inc, McCain Foods Ltd, Belgian Waffles Thijs, and La Lorraine Bakery Group are a few of the key players operating in the market.
The List of Companies - Frozen Belgian Waffles Market
- DELY Wafels SRL
- Deligout Sprl
- Avieta SA
- VDB Frozen Food
- Kellanova
- Conagra Brands Inc
- General Mills Inc
- McCain Foods Ltd
- Belgian Waffles Thijs
- La Lorraine Bakery Group