The Wafer Biscuits Industry is expected to experience significant growth, rising from USD 114.29 billion in 2024 to an estimated USD 176.46 billion by 2032, expanding at a Compound Annual Growth Rate (CAGR) of 5.58% over the forecast period. This growth reflects increasing consumer demand for light, flavorful snacks and the global shift toward convenience food products.

The wafer biscuits market has experienced significant growth in recent years, with prominent developments and innovations influencing the industry landscape. Wafers, characterized by their dry, crispy texture and thin profile, have become a popular choice among consumers due to their convenience, versatility, and diverse flavor options. These biscuits are not only consumed as standalone snacks but also serve as components in various confectionery products such as ice cream, biscuits, and chocolate bars. With their widespread availability in retail establishments, including supermarkets and hypermarkets, wafer biscuits have gained traction as a convenient snacking option for consumers of all ages.

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Segmentation Analysis

by Product Type

Coated Wafer Biscuits
Cream-Filled Wafer Biscuits

by Distribution Channel

Supermarket & Hypermarkets
Convenience Stores
Online Retail Stores
Others

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Regional Insights:

Europe dominated the global wafer biscuits market with the highest market share of more than 40% in 2024. The region is further expected to grow at a significant CAGR and maintain its dominance by 2030. Europe's rich heritage plays a significant role, as Europeans have held a longstanding love for wafer biscuits dating back centuries. This cultural appreciation translates into a steady and enduring demand for these beloved treats. Additionally, the European palate is renowned for its sophistication and openness to new flavor profiles. Manufacturers capitalize on this by offering a diverse array of fillings, coatings, and ingredients, ensuring that the market remains dynamic and responsive to evolving consumer preferences.

France is expected to hold the second-highest position in the Europe wafer biscuits market by 2024. France has a rich tradition of enjoying wafer biscuits, with iconic brands like LU and Mikado deeply ingrained in its culinary culture. These brands exemplify France's long-standing love for indulgent snacks, contributing to a vibrant and established market for wafer biscuits in the country. The United Kingdom, home to beloved brands like Kit Kat and McVitie's, holds a significant share of the market, thanks to its enthusiastic consumption of biscuits and chocolates. Meanwhile, Italy, renowned for its culinary prowess, offers high-quality wafer varieties such as Mulino Bianco's "Pan di Stelle," which enjoy widespread popularity among locals and international consumers alike.

Key Players:

1. Mars, Incorporated
2. NestleS.A.
3. Mondelēz International, Inc
4. The Hershey Company
5. Lotte Corporation
6. Ravi Foods Pvt. Ltd. (RFPL)
7. The Kellogg Company
8. Hostess Brands, LLC
9. Loacker S.p.A.
10. Universal Robina Corporation
11. Bahlsen
12. Cadbury
13. Greco BrOthers
14. Keebler Vanilla Wafers
15. Pickwick

Conclusion

The wafer biscuits market is on a solid upward trajectory, forecasted to grow by over USD 60 billion between 2024 and 2032. Key growth drivers include shifting snacking habits, increased retail availability, and a clear consumer preference for indulgent yet convenient products.

Developed markets such as the U.S. and Germany are showing stable growth through innovation and premiumization, while emerging markets offer fertile ground for volume-based expansion. Brands that can offer health-conscious, affordable, and portable snack options will continue to outperform.