Waffle Maker Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Waffle Maker Market is projected to register a CAGR of 4% during the forecast period (2021-2026).

The waffle maker is part of the small kitchen appliances market. The expansion of large categories of waffle makers is fuelled by the increasing integration of quality and creativity. Waffle makers are expected to grow at a rapid rate as people's lifestyles change around the world, driven by rising disposable income. Waffles are also considered a staple breakfast food by buyers of various socioeconomic groups and western countries such as the United States and Canada. Besides, the growing consolidation of value-added features in waffle makers is supporting the availability of higher-quality products to consumers and has crystallized market growth across the world.

Because of the ease of the cooking cycle, low operating costs, high efficiency, high productivity, less counter space occupation, and ease of cleaning and sanitizing are attracting more buyers to purchase Waffle creators for family cooking. Expanding individual extra cash as well as a savvy item collection is also expected to increase interest in the waffle producer's market. Furthermore, low energy consumption and growing health issues are the primary concerns.

Many international companies are focusing on new waffle-making product advancements. These Waffle makers also have a compact design for commercial kitchens and robust features such as timers and temperature controls that help to save energy. Furthermore, the growing trend of developing economies turning to western foods is expected to propel growth in the waffle producer's market at a rapid pace over the forecast period.

However, long pre-heat times, longer bake times, and daily maintenance are some of the major industry constraints that are expected to impact the global waffle maker market.

COVID-19 has negatively impacted on waffle maker market due to restrictions on manufacturing activities and the supply chain. The lockdown across the globe has forced waffle maker manufacturers to temporarily hold the production. The expansion of commercial infrastructure and technological advancements will guarantee growth despite the temporary lull experienced during the COVID-19 outbreak. Since the pandemic forced people to stay at home, niche kitchen appliances such as an electric tandoor, hand blender, waffle makers, pizza makers, popcorn makers, and cotton candy makers have seen an increase in demand.

Key Market Trends

Commercial Application is Dominating the Waffle Maker Market

Waffle as breakfast is one of the market's most important growth factors. Restaurants are increasingly focusing on serving waffles to lead the breakfast domain, as well as a variety of food items such as sweet and exquisite waffles. Restaurants are fiercely competing to serve better breakfast meals after the introduction of all-day breakfast menus by major quick-service restaurants. Waffle House, for example, offers waffles with hash browns and covered or chunked eggs as a breakfast choice. With the acceptance of waffles as a breakfast meal, restaurant's desire to offer unique offerings will play a big role in the commercial waffle maker market's growth.

The rising popularity of waffles with health benefits is one of the latest trends that will gain momentum in the commercial waffle maker market in the coming years. The demand for commercial waffle makers is skyrocketing around the world, owing to their high nutritional value and various added benefits. Restaurants are focusing on introducing waffle dishes with nutritional value as the market for waffles grows. Waffles stuffed with a burger patty and fried eggs are already available at one of the Santa Clara eateries.

In the case of the commercial application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting toward ready-to-eat and frozen food products. A large part of new households includes working singles who prefer to dine out rather than setting up their kitchens.

The Asia Pacific Market is Expected to Grow at a Faster Pace

Asia-Pacific ranks as the fastest-growing market with a significant growth rate over the forecast period, led by rapid urbanization and the expanding middle-income population base. The growing popularity of western food eating habits in countries such as India and China is pushing up demand for waffle makers. The growing number of cafés, restaurants, hotels, homes, and businesses, as well as increasing consumer purchasing power in the area, all contribute to the market value. Consequently, increased demand has resulted in decreased prices of the waffle maker, especially in developing countries.

On the other hand, raising awareness about healthcare issues in the area, which contributes to consuming nutritious, low-energy-consumption homemade food, the North American market is expected to rise at a healthy pace.

Competitive Landscape

The waffle maker market tends to be competitive, as it is characterised by the presence of many players. Players are attempting to distinguish their products based on features such as heat control level, end-of-baking buzzer, and even heat distribution. Several companies are attempting to develop waffle makers with improved features to minimise bake cycle time and boost productivity. Players are now attempting to follow safety and quality requirements. Some of the most important players in the waffle maker market are Hamilton Beach, Breville, Krampouz, Krups, Cuisinart, Nemco Food Equipment, Star Manufacturing International, Waring, BELLA, Proctor Silex, Oster, All-Clad, and Others.

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