Waffle Makers Market: Introduction
- A waffle maker is a utensil used to cook different types of waffles. Waffle makers apply heat from both sides of the batter for faster cooking. Besides waffles, some common food items cooked in a waffle maker include brownies, cinnamon rolls, cornbread, and quesadillas. Waffle makers have a nonstick coating for easy removal of baked waffles. Oil can be brushed on the surface for quick cooking.
Key Drivers of the Global Waffle Makers Market
- Growing preference for waffles as a mainstream breakfast item internationally is driving the demand for waffle makers across the globe. The warm crunchy feel of waffles in different flavors is loved by millennial consumers. Further, waffles are an important part of menus in many restaurants and cafes. Evolving perception toward the morning meal in emerging economies is anticipated to drive the demand for waffle makers in the residential segment.
- Easy to clean waffle makers with additional features such as temperature control, timers, and removable plates see high demand. Higher-end waffle makers offer removable plates for effortless cleaning. Modern consumers, especially working women, are increasingly preferring waffle maker as it helps to cook a diverse variety of desserts in minimum time.
Waffle Makers Market: Key Segments
The global waffle makers market can be segmented based on type, material, end-user, price, distribution channel, and region. Based on type, the waffle makers market can be classified into single waffle maker, double waffle maker, and stacked double waffle maker. Double waffle makers are largely preferred by commercial end-users. Based on material, the market is segmented into cast aluminum, cast steel, cast iron, and nonstick. Cast iron is the oldest and most common material used in production of waffle makers. Based on end-user, the market can be segmented into residential and commercial. Growing middle class population and rising urbanization is driving the demand for waffle makers from residential end-users. Based on price, the market can be segmented into low, medium, and high. Demand for medium priced products is anticipated to expand at the highest CAGR during the forecast period. Based on distribution channel, the market is segmented into online and offline. Growing number of smartphone users and expansion of e-commerce retailing is driving the sale of waffle makers through online distribution channels.
Asia Pacific Market to Expand at the Highest CAGR during the Forecast Period
- By region, the global waffle makers market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. The country-level analysis and forecast of the Europe market covers the waffle makers market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast of the waffle makers market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America waffle makers market is categorized into Brazil, and Rest of South America.
- Growing number of waffle restaurants and changing consumer preferences for breakfast are identified as key drivers of the waffle makers market. Moreover, millennial consumers in India, Japan, and China are willing to spend on classic combinations of waffles. Increasing influence of western culture on food consumption is likely to push the demand for waffle makers in the Asia Pacific market in the near future.
Key Players Operating in the Global Market
Key brands of waffle makers are focused on multi-channel distribution, aggressive advertising and branding, and digital promotion. Further, industry participants are investing in strategic collaborations and partnership with traders and distributors to expand their geographical presence.
Some of the major companies identified in the global waffle makers market are:
- Nordic Ware
- Whirley Pop
- West Bend
- Olde Midway
- Paragon Popcorn
- CORNICO COMPANY, S.R.O. (LTD.)
Global Waffle Makers Market: Research Scope
Global Waffle Makers Market, by Type
- Stacked Double
Global Waffle Makers Market, by Material
- Cast Aluminum
- Cast Steel
- Cast Iron
Global Waffle Makers Market, by End-user
Global Waffle Makers Market, by Price
Global Waffle Makers Market, by Distribution Channel
- Large Format Stores
- Specialty Stores
- Independent Retailers
Global Waffle Makers Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global waffle makers market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.