WAFER BISCUITS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The growing preference for convenient snacking and easier consumer accessibility through the advancing retail sector is among the few factors augmenting the wafer biscuit market's growth. The shift in consumption towards bakery products owing to better appeal, taste, and convenience is a significant driver of market growth. 

In addition, the rising demand for convenience foods is propelling market growth. While demand for nutrition is growing worldwide, wafer biscuit consumption is rising accordingly. Demand for wafer biscuits in the snack category has increased daily because of an active lifestyle, less time spent cooking homemade food, and rising income.

Moreover, the booming demand for healthy snacking has led many manufacturers to introduce health-efficient biscuits with fortified active ingredients, mainly protein, fiber, and vitamins. As per a survey done by the International Food Information Council (IFIC) in the United States in 2021, about 27% of respondents said they believed fortified foods and beverages could be good for their health. Almost 24% of respondents claimed that fortified foods and drinks are widely available in today's food supply. 

The wafer biscuits market was valued at USD 6.29 billion for the current year and is expected to register a CAGR of 5.49% over the next five years.

A wafer is a sort of dry, crispy, thin biscuit that comes in a wide range of shapes, sizes, and packaging. It is a component of ice cream, biscuits, and chocolate bars. Wafers are becoming more popular among consumers as they are a convenient food sold in all retail establishments. Wafer biscuits can be made into cookies by sandwiching cream flavoring between them. Its surface is waffle-patterned.

Consumers in the market frequently preferred coated wafers, among the most frequently preferred wafer products. Furthermore, the wafer biscuit market is being driven by rising demand for healthy snacks and rising per capita consumption in developing countries. The booming demand for healthy snacking has led many manufacturers to introduce health-efficient wafer biscuits with fortified active ingredients, mainly protein, fiber, and vitamins.

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