Surging Demand for Frozen and Convenience Food Worldwide to Escalate Frozen Waffles Market Growth During Forecast Period
According to our latest market study, “Frozen Waffles Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Category, Distribution Channel, and Geography,” the frozen waffles market size is expected to grow from US$ 2,925.85 million in 2022 to US$ 4,612.86 million by 2030; it is estimated to grow at a CAGR of 5.9% from 2023 to 2030. The report highlights key factors driving the frozen waffles market growth and prominent players along with their developments in the market.
Frozen waffles are 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. Owing to this, frozen waffles are witnessing increasing global demand, mainly in developed countries. Due to the strong cultural influence on people's consumption habits in various countries, including India, Japan, and China, there is a high predominance of traditional breakfast food. Thus, the adoption of frozen waffles in these countries is limited, which is creating hurdles in the growth of the frozen waffles market.
Global Frozen Waffles Market Breakdown – by Region
Frozen Waffles Market Forecast to 2030 - Global Analysis by Type (Flavored and Unflavored/Plain), Category (Gluten-Free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
Frozen Waffles Market Size Report | Global Overview 2023-2030
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The key players operating in the global frozen waffles market include DELY Wafels SRL, Kodiak Cakes LLC, Deligout Sprl, Avieta SA, Nature's Path Foods, Julian's Recipe LLC, Kellogg Co, B Boys Inc, Sara Lee Frozen Bakery LLC, and Hometown Food Co. Players operating in the global frozen waffles market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
Impact of COVID-19 Pandemic on Frozen Waffles Market
The COVID-19 pandemic initially affected the global frozen waffles market due to the shutdown of manufacturing units, shortage of labor, disruption of supply chains, and financial instability.
The frozen waffles market is a part of the food & beverages industry. The industry's disruption due to the economic slowdown caused by the COVID-19 outbreak restrained the demand for frozen waffles. However, businesses are gaining ground as previously imposed limitations have been eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries eased the situation, leading to a rise in business activities worldwide. After the ease of lockdowns and movement restrictions, several segments of the food & beverages industry witnessed growth, including frozen waffles market.
The report includes the segmentation of the global frozen waffles market as follows:
The global frozen waffles market is segmented into type, category, distribution channel, and geography. Based on type, the frozen waffles market is bifurcated into flavored and unflavored/plain. Based on category, the frozen waffles market is segmented into gluten-free and conventional. Based on distribution channel, the frozen waffles market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the global frozen waffles market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America frozen waffles market is further segmented into the US, Canada, and Mexico. The Europe frozen waffles market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific frozen waffles market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America frozen waffles market is further segmented into Brazil, Argentina, and the Rest of South & Central America.
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