At 6.0% CAGR, Asia Pacific Frozen Belgian Waffle Market is Projected to be Worth US$ 427.24 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific frozen Belgian waffle market was valued at US$ 267.60 million in 2023 and is expected to reach US$ 427.24 million by 2031, registering a CAGR of 6.0% from 2023 to 2031. Product innovations and strategic initiatives and advancements in cold chain infrastructure are among the critical factors attributed to drive the Asia Pacific frozen Belgian waffle market growth.

Manufacturers of frozen Belgian waffles are making significant investments in product innovation to improve their customer base and meet emerging consumer demands. They are focusing on providing frozen Belgian waffles infused with new flavors, enhanced nutritional content, and products available in gluten-free or vegan claim to suffice the varied requirements of consumers. For instance, in May 2024, Kellanova launched higher-protein breakfast offerings: Eggo Fully Loaded Frozen Belgian Waffles, which contain 10 grams of protein in each two waffle servings. These waffles are available in two flavors: Chocolate Chip Brownie and Strawberry Delight. Similarly, in January 2023, Central Foods, a frozen foods manufacturer, launched its KaterBake Belgian Waffle in vegan form. Such product innovations help the companies widen their reach and gain an advantage over their competitors in international markets. Frozen Belgian waffle manufacturers are also adopting business expansion and production capacity scaleup strategies to serve their customers better. Such business development initiatives are further propelling market growth worldwide.

On the contrary, the increasing instances of product recalls hamper the growth of Asia Pacific frozen Belgian waffle market.

Based on product type, the Asia Pacific frozen Belgian waffle market is bifurcated into Brussel waffles and liege waffle/ Belgian sugar waffle. The Brussel waffles segment held 58.9% market share in 2023, amassing US$ 157.69 million. It is projected to garner US$ 246.58 million by 2031 to register 5.7% CAGR during 2023–2031.

By nature, the Asia Pacific frozen Belgian waffle market is divided into flavored and plain. The flavored segment held 60.6% share of Asia Pacific frozen Belgian waffle market in 2023, amassing US$ 162.12 million. It is projected to garner US$ 262.31 million by 2031 to expand at 6.2% CAGR from 2023 to 2031.

In terms of category, the Asia Pacific frozen Belgian waffle market is bifurcated into conventional and gluten-free. The conventional segment held 84.2% share of Asia Pacific frozen Belgian waffle market in 2023, amassing US$ 225.41 million. It is predicted to garner US$ 356.38 million by 2031 to expand at 5.9% CAGR between 2023 and 2031.

By end user, the Asia Pacific frozen Belgian waffle market is bifurcated into food service and food retail. The food service segment held 62.1% share of Asia Pacific frozen Belgian waffle market in 2023, amassing US$ 166.31 million. It is estimated to garner US$ 262.88 million by 2031 to expand at 5.9% CAGR during 2023–2031.

Based on country, the Asia Pacific frozen Belgian waffle market is categorized into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. Our regional analysis states that the Rest of Asia Pacific captured 36.8% share of Asia Pacific frozen Belgian waffle market in 2023. It was assessed at US$ 98.42 million in 2023 and is likely to hit US$ 147.36 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the frozen Belgian waffle market are Avieta SA, Kellanova, Conagra Brands Inc, General Mills Inc, McCain Foods Ltd, Belgian Waffles Thijs, La Lorraine Bakery Group, and Riviana Foods Pty Ltd, among others.

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