At 4.7% CAGR, Europe Frozen Belgian Waffle Market is Projected to be Worth US$ 709.56 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe frozen Belgian waffle market was valued at US$ 493.06 million in 2023 and is expected to reach US$ 709.56 million by 2031, registering a CAGR of 4.7% from 2023 to 2031. Advancements in cold chain infrastructure and preference for gluten-free waffles are among the critical factors attributed to drive the Europe frozen Belgian waffle market growth.

Cold chain logistics have proven to be critical for any country seeking to improve the market share of frozen food products such as frozen Belgian waffles. Cold chain infrastructure has increased significantly in recent years. Similarly, in 2020, the total capacity of refrigerated warehouses worldwide surged to 719 million cubic meters, a 16.7% increase from the capacity reported in 2018, as per the International Institute of Refrigeration (IIR) and the Global Cold Chain Alliance (GCCA) report.

Market service providers are constantly enhancing their technologies to stay ahead of the competition and maintain integrity, efficiency, and safety across the globe. For example, vendors have implemented Radio Frequency Identification (RFID) technology and Hazard Analysis and Critical Control Points (HACCP) to enhance efficiency with smaller shipments. Further, to provide additional service to consumers, they are expanding their multi-compartment refrigerated vehicle fleets. Thus, advancements in cold chain infrastructure are expected to offer lucrative opportunities for the frozen Belgian waffles market players.

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

Based on product type, the Europe frozen Belgian waffle market is bifurcated into Brussels waffles and liege waffle/Belgian sugar waffle. The Brussels waffles segment held 55.3% market share in 2023, amassing US$ 272.48 million. It is projected to garner US$ 381.50 million by 2031 to register 4.3% CAGR during 2023–2031.

By nature, the Europe frozen Belgian waffle market is divided into flavored and plain. The flavored segment held 56.1% share of Europe frozen Belgian waffle market in 2023, amassing US$ 276.62 million. It is projected to garner US$ 404.93 million by 2031 to expand at 4.9% CAGR from 2023 to 2031.

In terms of category, the Europe frozen Belgian waffle market is bifurcated into conventional and gluten-free. The conventional segment held 81.7% share of Europe frozen Belgian waffle market in 2023, amassing US$ 402.83 million. It is predicted to garner US$ 572.72 million by 2031 to expand at 4.5% CAGR between 2023 and 2031.

By end user, the Europe frozen Belgian waffle market is bifurcated into food service and food retail. The food retail segment held 60.8% share of Europe frozen Belgian waffle market in 2023, amassing US$ 299.69 million. It is estimated to garner US$ 445.02 million by 2031 to expand at 5.1% CAGR during 2023–2031.

Based on country, the Europe frozen Belgian waffle market is categorized into Germany, the UK, France, Italy, Spain, and Rest of Europe. Our regional analysis states that the Rest of Europe captured 44.3% share of Europe frozen Belgian waffle market in 2023. It was assessed at US$ 218.33 million in 2023 and is likely to hit US$ 299.42 million by 2031, registering a CAGR of 4.0% during 2023–2031.

Key players operating in the Europe frozen Belgian waffle market are DELY Wafels SRL, Deligout Sprl, Avieta SA, VDB Frozen Food, Kellanova, Conagra Brands Inc, General Mills Inc, McCain Foods Ltd, Belgian Waffles Thijs, La Lorraine Bakery Group, Riviana Foods Pty Ltd, Gofrino, and Consort Frozen Foods, among others.

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