Frozen Waffles Market Size Report | Global Overview 2023-2030
[Research Report] 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 register a CAGR of 5.9% from 2023 to 2030.
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
In 2022, North America accounted for the largest share of the global frozen waffles market. The market in the region is segmented into the US, Canada, and Mexico. The rising marketing campaigns is the key factor driving the market's expansion in the US. Manufacturers rely extensively on marketing strategies such as advertising and product promotions to increase sales. Manufacturers use electronic and print media to promote their brands and products. For example, in 2017, the Netflix series Stranger Things featured Kellogg Company's Eggo brand frozen waffles. This has resulted in a considerable increase in sales of frozen waffles for the company. A rise in demand for frozen waffles among all age groups drives the market in this region. Moreover, the growing awareness about the health benefits of organic products is a significant factor boosting the demand for organic breakfast products in the region. To meet the growing consumer demand, manufacturers have introduced organic waffle varieties. For instance, Nature's Path Foods, a USDA-certified manufacturer, offers a wide range of organic breakfast and snack foods, including waffles, cold cereals, granolas, hot oatmeal, bars, and cookies. The factors mentioned above are boosting the growth of the region's frozen waffle market.
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Frozen Waffles Market: Strategic Insights
Frozen Waffles Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2022 - 2030)
5.9%
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Market Size 2022
US$ 2.93 Billion
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Market Size 2030
US$ 4.61 Billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- 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
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Flavored and Unflavored/Plain
Category
- Gluten-Free and Conventional
Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
- 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 Waffles Market: Strategic Insights
-
CAGR (2022 - 2030)5.9% -
Market Size 2022
US$ 2.93 Billion -
Market Size 2030
US$ 4.61 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
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Key Players
- 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
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
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- Flavored and Unflavored/Plain
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- Gluten-Free and Conventional
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- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Impact of COVID-19 Pandemic on Frozen Waffles Market
Before the COVID-19 pandemic, the frozen waffles market growth was primarily driven by the rising demand for ready-to-eat food products. However, the market faced hurdles during the first quarter of 2020 due to business shutdowns and raw material and labor shortages. The COVID-19 pandemic led to an economic recession in the initial months of 2020, which created financial difficulties for low-income and mid-income consumers.
Moreover, due to restrictions, people stayed at home and demanded ready-to-eat products, creating a demand for frozen waffles products that are easy to consume.
Market Insights
Surging Demand for Frozen and Convenience Food Worldwide
Over the past few years, the lifestyle of people globally evolved dramatically. Due to hectic work schedules, people are looking for products that save time and effort. Consumers prefer to 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. These factors are significantly boosting the demand for convenience food among consumers. Increasing population of women, high per capita income, and rising middle-class population are key factors driving convenience food consumption globally. Moreover, the number of single or two-person households is growing in various developed nations such as the US, Canada, the UK, and Germany. According to the US Census Bureau, there were 37.9 million single-person households in the US in 2022, accounting for 29% of all households. Due to the growing number of nuclear families, the demand for ready-to-eat, portion-controlled food increased. All these factors are bolstering the demand for frozen waffles.
Type-Based Insights
Based on type, the frozen waffles market is segmented into flavored and unflavored/plain. The flavored segment is expected to register a higher CAGR during the forecast period. The growing preference for waffles as a mainstream breakfast item globally is driving the demand for frozen waffles. Millennial consumers love the warm crunchy feel of waffles in different flavors. Waffle manufacturers are growing their product portfolio by introducing new flavors such as fruit, buttermilk, and cinnamon to attract consumer interest. Further, manufacturers, including Vans and the Kellogg Company, have launched flavored waffle varieties with enhanced functional properties to fulfill the population's needs. These factors are driving the market for the flavored frozen waffles segment.
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.
Frozen Waffles Market Report Scope
Report Attribute
Details
Market size in 2022
US$ 2.93 Billion
Market Size by 2030
US$ 4.61 Billion
Global CAGR (2022 - 2030)
5.9%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Type - Flavored and Unflavored/Plain
By Category - Gluten-Free and Conventional
By Distribution Channel - Supermarkets and Hypermarkets
- Convenience Stores
- Online Retail
- Others
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
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Market size in 2022 | US$ 2.93 Billion |
Market Size by 2030 | US$ 4.61 Billion |
Global CAGR (2022 - 2030) | 5.9% |
Historical Data | 2020-2021 |
Forecast period | 2023-2030 |
Segments Covered |
By Type
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Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Spotlights
- Progressive industry trends in the frozen waffles market to help players develop effective long-term strategies.
- Business growth strategies adopted by developed and developing markets.
- Quantitative analysis of the frozen waffles market from 2021 to 2030
- Estimation of global demand for frozen waffles
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry.
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the frozen waffles market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The frozen waffles market size at various nodes
- Detailed overview and segmentation of the market, as well as the frozen waffles industry dynamics
- The frozen waffles market size in various regions with promising growth opportunities
Global Frozen Waffles Market
Based on type, the frozen waffles market is segmented into flavored and unflavored/plain. Based on category, the frozen waffles market is bifurcated 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.
Company Profiles
- 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
- Hometown Food Co
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Type, Category, and Distribution Channel
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the category, conventional segment is predicted to register the highest CAGR during the forecast period. The demand for conventional frozen waffles is expected to decrease as consumers become more health conscious and prefer healthy alternatives such as gluten-free ones. People allergic to gluten cannot consume conventional waffles as they contain wheat flour. However, conventional frozen waffles are readily available in the market; thus, consumers prefer this product. Further, less awareness regarding gluten-free waffles is boosting the market for conventional frozen waffles.
Rising growth of e-commerce is supporting the growth of the frozen waffles market. People increasingly prefer online retail platforms for purchasing frozen foods. According to American Frozen Food Institute, online sales of frozen foods will increase by 75% in 2022. The online sales of food and beverages increased significantly during the COVID-19 pandemic due to the closure of brick-and-mortar stores and government restrictions. As lockdowns first constrained individuals and subsequently continued to work from home, there was a substantial shift to online shopping. Other factors influencing consumers to shop online include heavy discounts, availability of various products of different brands under one roof, and home delivery options. With the rising penetration of e-commerce across different geographies, the manufacturers of frozen waffles are also enhancing their online presence by selling their products through well-known e-commerce platforms such as Amazon.com, Lidl, and Walmart. This factor is further expected to drive the growth of the frozen waffles market over the coming years.
Based on the type, the flavored segment is expected to register the highest CAGR during the forecast period. The growing preference for waffles as a mainstream breakfast item globally is driving the demand for frozen waffles. Millennial consumers love the warm crunchy feel of waffles in different flavors. Waffle manufacturers are growing their product portfolio by introducing new flavors such as fruit, buttermilk, and cinnamon to attract consumer interest. Further, manufacturers, including Vans and the Kellogg Company, have launched flavored waffle varieties with enhanced functional properties to fulfill the population's needs. These factors drive the flavored frozen waffles segment’s growth during the forecast period.
Surging demand for frozen and convenience food worldwide and rising trend of in-home consumption are drivers of frozen waffles market. Frozen waffles are a convenience food product mainly consumed as breakfast. Consumers prefer to 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.
In 2022, North America region accounted for the largest share of the global frozen waffles market and the market in the region is segmented into United States, Canada, and Mexico. The rising marketing campaigns are the key factor driving the market's expansion in the US. Manufacturers rely extensively on marketing strategies such as advertising and product promotions to increase sales. Manufacturers use electronic and print media to promote their brands and products. For example, in 2017, the Netflix series Stranger Things featured Kellogg Company's Eggo brand frozen waffles. This has resulted in a considerable increase in sales of frozen waffles for the company. An upsurge in demand among all age groups drives the market growth in this region. Moreover, the growing awareness about the health benefits of organic products is a significant factor that would boost the demand for organic breakfast products in the region. To meet growing consumer demand, manufacturers introduce organic waffle varieties. For instance, Nature's Path Foods, a USDA-certified manufacturer, offers a wide range of organic breakfast and snack foods, including waffles, cold cereals, granolas, hot oatmeal, bars, and cookies. The factors mentioned above are boosting the growth of the region's frozen waffle market.
The List of Companies - Frozen Waffles Market
- 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
- Hometown Food Co