Report : North America Frozen Waffle Market Forecast to 2030 - Regional Analysis - by Type (Flavored and Unflavored/Plain), Category (Gluten-free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
At 6.0% CAGR, the North America Frozen Waffle Market is speculated to be worth US$ 2,036.58 million by 2030, says Business Market Insights
According to Business Market Insights research, the North America frozen waffle market was valued at US$ 1,353.87 million in 2023 and is expected to reach US$ 2,036.58 million by 2030, registering a CAGR of 6.0% from 2023 to 2030. Surging demand for frozen and convenience food worldwide and rising trend of in-home consumption are the critical factors attributed to the North America frozen waffle market expansion.
The COVID-19 pandemic influenced the consumption habits of consumers. Due to lockdowns and work-from-home mandates, people stayed home, prompting in-home consumption. Moreover, due to the closure of food service outlets such as cafes, restaurants, and fast-food outlets, the demand for ready-to-cook products, instant meals, and frozen food products increased significantly.
The COVID-19 pandemic significantly raised hygiene concerns among consumers, leading to changes in consumer buying behavior. Consumers increasingly prefer hygienically packaged food and beverages to prevent themselves from various infections and food-borne diseases. Although the number of COVID-19 cases has decreased significantly and the government restrictions are relaxed, many people are still concerned about hygiene conditions at foodservice outlets. Therefore, many people prefer in-home consumption over food service consumption. This factor positively impacts the sales of frozen breakfast products such as waffles and pancakes as they are highly suitable for in-home consumption. Frozen waffles are increasing in popularity among consumers as they are quick, easy to prepare, and conveniently consumed at home. Thus, the rising trend of in-home consumption, especially post-COVID-19 outbreak, is significantly boosting the demand for frozen waffles.
On the contrary, growing awareness and preference for healthy food in selected countries hampers the North America Frozen Waffle Market.
Based on type, the North America frozen waffle market is segmented into flavored and unflavored/plain. The flavored segment held 78.4% share of North America frozen waffle market in 2023, amassing US$ 1,060.90 million. It is projected to garner US$ 1,613.17 million by 2030 to expand at 6.2% CAGR during 2023–2030.
Based on category, the North America frozen waffle market is segmented into gluten-free and conventional. The conventional segment held 81.5% share of North America frozen waffle market in 2023, amassing US$ 1,103.31 million. It is projected to garner US$ 1,646.28 million by 2030 to expand at 5.9% CAGR during 2023–2030.
Based on distribution channel, the North America frozen waffle market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 51.6% share of North America frozen waffle market in 2023, amassing US$ 699.17 million. It is projected to garner US$ 1,027.05 million by 2030 to expand at 5.6% CAGR during 2023–2030.
Based on country, the North America frozen waffle market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 89.7% share of North America frozen waffle market in 2023. It was assessed at US$ 1,213.83 million in 2023 and is likely to hit US$ 1,816.89 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.
Key players operating in the North America frozen waffle market are AVIETA S.A., B Boys LLC DBA Belgian Boys, DELY Wafels srl, Julian's Recipe LLC, Kellogg's Company, Kodiak Cakes, LLC, Make Each Day Delicious LLC, Nature's Path Foods, and Van’s Foods, among others.
- In April 2023, Kellogg expanded its Eggo lineup with three new flavors: Eggo Vanilla Bean Grab & Go waffles, Eggo Chocolatey Chip Banana waffles, and Eggo Berry Blast Mini Toast waffles. The Eggo Vanilla Bean Grab & Go is a Liege-style waffle. This is a Belgian-inspired street food staple with brioche dough and baked through with bits of pearl sugar, butter, and a vanilla flavor infusion.
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