(Food-Beverage-News.Com, August 07, 2018 ) Wafer Biscuits Market was worth USD XX billion in 2018and estimated to be growing at a CAGR of 4.3%, to reach USD XX billion by 2023. Wafer biscuits are crisp and thin usually filled with cream. They are gaining immense popularity. They are also used in the preparation of ice cream sandwiches.
Due to an ever increasing demand for convenience food along with a rise in disposable income is driving the growth of the wafer market. They have a widespread application including the manufacture of ice creams and chocolate bars, which add to the market growth. Health concerns pose a major threat to the market, especially in developed countries. As a result, the manufacturers are developing new healthier varieties to attract the health conscious population. Heavy competition, coupled with a rise in the number of alternative products, restrains the growth of this market.
The market for Wafer Biscuits is broadly categorized into product, application and distribution channel. By product the market is divided into Cream filled and coated. Coated wafer biscuits dominate the market. By application the market is segmented into sandwich cookies, ice cream decorations and chocolate bars. Chocolate bars segment account for a major share of the market. By distribution channel the market is classified into Supermarkets, convenience stores, food speciality stores, online retailers and others. Supermarkets are currently dominating the market. On the basis of geography, the market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Wafer Biscuits market was dominated by Europe followed by North America. Asia Pacific is considered to be growing at a fast pace.
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