Frozen Waffles Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Flavored and Unflavored), Category (Gluten-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

Frozen Waffles Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Flavored and Unflavored), Category (Gluten-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

The frozen waffles market is expected to grow from US$ 2,776.21 million in 2021 to US$ 4,021.29 million by 2028. It is estimated to rise at a CAGR of 5.4% from 2021 to 2028.

Frozen waffles are popular breakfast items among customers of all age groups. These waffles are easy to prepare and are available in different flavors, such as plain, blueberry, choco-chip, and cinnamon. Eggo, Kashi, Van's, and several others are some of the prominent brands of frozen waffles. The rising demand for convenience food and beverages due to consumers' hectic lifestyles is expected to support the frozen waffles market over the forecast period.

Based on distribution channel, the frozen waffles market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment led the global market in 2020. These stores are large retail establishments that offer various products, such as groceries, beverages, and other household goods. Products from several brands are available at reasonable prices in these stores, allowing shoppers to find the right product quickly

Furthermore, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Supermarkets and hypermarkets focus on maximizing product sales to increase their profit. Manufacturers of frozen waffles usually prefer to sell their products through supermarkets and hypermarkets owing to their large customer base.

Based on region, the frozen waffles market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America held the largest share of the global frozen waffles market, and Asia Pacific is projected to register the fastest growth over the forecast period. The growth of the frozen waffles market across North America is attributed to the busy lifestyle of consumers, high purchasing power, increasing number of nuclear families, and rising demand for convenience and frozen food. According to the 2020 Current Population Survey, there were 36.1 million single-person households in the US, accounting for 28% of all households. Due to the growing number of nuclear families, the demand for ready-to-eat, portion-controlled food has increased. This factor is significantly driving the growth of the North America frozen waffles market. The presence of leading market players, including Kellogg's Company; Van's Foods; and Nature's Path, LLC; in the region is also projected to drive the growth of this market.

Key players in the global frozen waffles market are Kellogg's Company; Dely Wafels; Kodiak Cakes, LLC; Deligout; B Boys LLC DBA Belgian Boys; Avieta S.A.; Make Each Day Delicious LLC; Nature's Path Foods; Julian's Recipe, LLC; and Van's Foods. These players are launching frozen waffles with new flavors and healthier ingredients to expand their customer size and cater to the emerging consumer trends. For instance, in February 2022, Griddle, a UK-based manufacturer of frozen breakfast products, launched a line of plant-based frozen waffles in three flavors, including Choco chip waffle, blueberry waffle, and original waffle. The waffles are certified vegan, HFSS-compliant, and contain 40% less sugar than traditional waffles. Such products are expected to gain significant momentum in the coming years.

The overall size of the global frozen waffles market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts, such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the frozen waffles market.

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