LONDON--(BUSINESS WIRE)--The global frozen waffles market is expected to post a CAGR of over 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing marketing campaigns. Food companies heavily depend on various marketing activities, such as advertising and product promotions, to increase sales. Vendors advertise their brands and products through electronic and print media. For instance, in 2017, Kellogg Company's Eggo brand frozen waffles were featured in Netflix series Stranger Things. This has boosted the company's frozen waffles sales significantly. Vendors primarily use digital media as a platform for marketing and most consumers are spending a lot of time on social networking sites, such as Facebook, Twitter, and Instagram. Thus, vendors are using these sites to attract consumers by posting promotional offers and photos of frozen waffles products, to not only increases customer engagement but also enhance the growth of the market.
This market research report on the global frozen waffles market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the shift toward organic product as one of the key emerging trends in the global frozen waffles market:
Global frozen waffles market: Shift toward organic product
The increasing preference of consumers for natural and organic frozen waffles is expected to sustain the growth of the global frozen waffles market. Consumers are increasingly purchasing breakfast products that are healthy and environment-friendly. The growing awareness about the health benefits of organic products is a significant factor that would drive the demand for organic breakfast cereals during the forecast period. Manufacturers are planning to launch new varieties of natural and organic waffles to cater to the increasing consumer demand. For instance, Nature's Path Foods, a USDA-certified manufacturer, offers a wide range of organic breakfast and snack foods that include waffles, cold cereals, granolas, hot oatmeal, bars, and cookies. Therefore, with the launch of such organic products, the market is expected to register a positive outlook during the forecast period.
“The increasing new product launches by regional and international players may support the growth of the market. Manufacturers of frozen waffles are encompassing innovative and distributive strategies to increase the market size of these products. Successful new product launches help in the growth of the market and also help the players to grow. A successful new product launch helps in increasing the revenue flow of the company and consumer base of player, in turn boosting the growth of the overall global market,” says a senior analyst at Technavio for research on food.
Global frozen waffles market: Segmentation analysis
This market research report segments the global frozen waffles market by product (traditional and health and wellness) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share close to 62%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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