At 5.6% CAGR, South & Central America Frozen Belgian Waffle Market is Projected to be Worth US$ 192.97 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America frozen Belgian waffle market was valued at US$ 124.77 million in 2023 and is expected to reach US$ 192.97 million by 2031, registering a CAGR of 5.6% from 2023 to 2031. Preference for gluten-free waffles and advancements in cold chain infrastructure are among the critical factors attributed to drive the South & Central America frozen Belgian waffle market growth.

The prevalence of celiac disease is increasing across various countries globally. According to the data published by Epidemiology, Presentation, and Diagnosis of Celiac Disease in 2021, celiac disease exists worldwide, contrary to popular belief that it was limited to a few regions. Celiac disease can often damage the intestine lining and cause thyroid and Type 1 diabetes in some patients. The gluten-free diet can help reduce celiac disease's effect. Therefore, consumers are highly preferring gluten-free products. Moreover, some people prefer a gluten-free lifestyle to keep themselves healthy. This has surged in the popularity and acceptance of gluten-free dietary patterns in the country in recent years. With the rising popularity and health awareness across the globe, manufacturers are offering frozen Belgian waffles in gluten-free format. Nature's path, Van's Food, and Kellanova are the major companies that offer gluten-free frozen waffles to cater to the growing demand from consumers. Thus, the increasing preference for gluten-free products is expected to be a prominent trend in the frozen Belgian waffles market during the forecast period.

On the contrary, the increasing instances of product recalls hamper the growth of South & Central America frozen Belgian waffle market.

Based on product type, the South & Central America frozen Belgian waffle market is bifurcated into Brussels waffles and liege waffle/Belgian sugar waffle. The Brussels waffles segment held 66.0% market share in 2023, amassing US$ 82.35 million. It is projected to garner US$ 125.29 million by 2031 to register 5.4% CAGR during 2023-2031.

By nature, the South & Central America frozen Belgian waffle market is divided into flavored and plain. The flavored segment held 59.0% share of South & Central America frozen Belgian waffle market in 2023, amassing US$ 73.60 million. It is projected to garner US$ 115.75 million by 2031 to expand at 5.8% CAGR from 2023 to 2031.

In terms of category, the South & Central America frozen Belgian waffle market is bifurcated into conventional and gluten-free. The conventional segment held 85.6% share of South & Central America frozen Belgian waffle market in 2023, amassing US$ 106.76 million. It is predicted to garner US$ 163.78 million by 2031 to expand at 5.5% CAGR between 2023 and 2031.

By end user, the South & Central America frozen Belgian waffle market is bifurcated into food service and food retail. The food service segment held 60.7% share of South & Central America frozen Belgian waffle market in 2023, amassing US$ 75.69 million. It is estimated to garner US$ 115.84 million by 2031 to expand at 5.5% CAGR during 2023-2031.

Based on country, the South & Central America frozen Belgian waffle market is categorized into Brazil, Argentina, and Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 53.9% share of South & Central America frozen Belgian waffle market in 2023. It was assessed at US$ 67.23 million in 2023 and is likely to hit US$ 104.80 million by 2031, registering a CAGR of 5.7% during 2023-2031.

Key players operating in the South & Central America 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com