Due to an ever increasing demand for convenience food along with a rise in disposable income is driving the growth of the wafer market.
Hyderabad, India -- (SBWIRE) -- 03/17/2018 -- The growth is primarily driven by ever-changing client lifestyles and preferences for new merchandise, the demand for convenience foods, and the rise in income act as the promoting factors. Customers are perpetually searching for innovation in snacks within the market. Most customers are losing their style for traditional biscuits, that acts as a chance for merchandise like wafer biscuits to capture the market.
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Global Wafer Biscuits Market is foreseen to grow at a rate of 4.3% from 2016 to 2021 in the forecast time period.
The main reason behind the high projected growth rate of the market is estimated to be the ever-increasing demand for latest innovation in the business of convenient foods, especially in the Wafers market.
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There has been a heavy inflow of entrants in the wafer biscuit market that are competing with major brands because of their distinct products than the usual, a wide array of biscuits and wafers. Because of the growing range of health aware customers, a huge range of corporations are introducing healthy Wafer Biscuits, which is a new rising trend within the market.
Vendors are introducing their wafer biscuit products with innovative packaging utilizing clear printing strategies. Research analysis on the global wafer biscuit market identifies that the increasing stress on innovative packaging could also be one amongst the foremost factors that may have a positive impact on the expansion of the market. Similarly, these wafer biscuits packaging offers protection against radiation and maintains the texture of the merchandise.
The European region dominates the global wafer biscuit market with the biggest share. This is because of the high standards of living and also the presence of several vendors in the region. Asia-Pacific region is projected to be the fastest-growing market through the forecast period, which might be attributed to a shift in customer preference and the rising disposable incomes.
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The top companies in the current trade include Nestle SA, Mars, Mondelez International, United Biscuits, Hershey Food Corp, Antonelli Bros, Artisan Biscuits, Bolero, Dukes, Kellogg, and Lago Group.
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