Preference for fresh waffles drives demand for commercial-grade waffle irons to US $ 363 million by 2031
NEW YORK, September 28, 2021 / PRNewswire / – Global sale of waffle irons are estimated to reach a value of 363 million US dollars at the end of 2031, growing at a CAGR of 5.6%, mainly due to strong demand for Belgian square waffle irons, which held a 27.7% market share in 2020.
Market players have been forced to come up with innovative solutions as awareness of modern technology and equipment has increased; consumers, especially millennials, prefer innovative alternatives. This probably applies not only to the product itself, but also to marketing. For example, in 2018 Cuisinart received recognition for its Recipe RoadTrip competition and received the AVA Gold award in the digital marketing and social campaign category.
In addition, changing customer preferences and changing lifestyles across the world have prompted market players to offer a variety of waffle irons such as round waffle irons, square and round Belgian waffle irons, etc. Additionally, to increase their consumer base, manufacturers are expanding their geographic footprint by building physical storefronts and e-commerce websites in developing regions.
Innovation has fueled competition in this space and pushed market players to provide unique, safe and effective products.
In 2020, ALDKitchen launched a new line of kitchen equipment in the desert category to meet the growing popularity of desert making.
In 2021, Dash LLC’s viral pumpkins and skull-shaped waffle irons were made available on Amazon. These waffle irons have become the best-selling Amazon product and are going viral on other digital platforms as well as TikTok for their spectacular results. This has helped Dash LLC gain new customers in all regions.
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Key points of the market research
- The market is very fragmented in nature, giving clients limited negotiating power. Collaborations with food bloggers, restaurants and cooking enthusiasts allow key players to strengthen their presence in the market.
- The novel coronavirus outbreak has further highlighted the importance of healthy eating, which has helped focus consumers’ attention on home-cooked foods and desserts, which bode well for sales of waffle irons.
- The Belgian Square waffle irons are expected to have the highest market share of around 27%.
- The commercial sector has the strongest contribution to the demand for waffle makers with a market share of around 53.6%.
- Waffle Makers Sales Across China are forecast to increase at a CAGR of 5.5% from 2021 to 2031.
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“Large companies are aggressively marketing a wide range of waffle irons, with a broad portfolio of shapes, sizes, materials, etc., with the goal of increasing their customer base,” says a Persistence Market Research analyst.
Key market players
The report highlights revolutionary insights into the competitive scenario of the Waffle Makers market, along with the highlights of the differential strategies employed by the manufacturers.
Some of the key players identified in the value chain include Cuisinart, Sage Appliances, Wells Manufacturing, Brentwood Appliances, Chefman, Nordic Ware, Star Manufacturing, VonShef, Nemco Food Equipment, LTD, Karmpouz Company, CucinaPro, Hamilton Beach Brands, Inc., Sunbeam Products, Inc. (Oster), Disney, ALDKitchen, Dash, LLC, Black + Decker Inc., Nostalgia Products, Roller Grill International SAS, National Presto Industries, Inc., among others.
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Learn more about report inclusions.
Persistence Market Research has released a new market report on the Waffle Makers market, covering the analysis of the global industry from 2016-2020 and forecast for 2021-2031. This research report provides compelling information on the basis of the type of product, size, type of material, end use, price range and sales channel, in all major regions of the world.
The report also includes forecasting factors and vital macroeconomic factors that are expected to drive the growth of the global market. It also discusses the restraints that are expected to hamper the growth of the market, as well as the latest trends and potential opportunities in the market.
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