In a recent published report, Kenneth Research has updated the market report for Waffle Maker Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Waffle Maker Market products.
Global Waffle Maker Market Overview
Waffle maker also known is a household cooking appliance. Increasing incorporation of quality and ingenuity is backing the growth of vast categories of waffle baker. Emerging trend of western food eating habits across countries such as India, China is increasingly driving the demand for the waffle makers. Changing lifestyles across the globe backed by increasing disposable income is expected to increase the waffle makers market at a high pace.
Additionally, Waffles are considered as a staple breakfast food among the consumers of various income classes and western countries such as the United States and Canada. Moreover, increasing incorporation of the value added features in the waffle makers is backing the availability of better quality products with the consumers and has crystalized the market growth across the globe.
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Market Size & Forecast
Waffle Maker Market is anticipated to record a decent 3.9% CAGR over the forecast period. Many multi-national companies are concentrating towards new product advancements in waffle making. Additionally, increasing inclination developing economies towards western foods is anticipated to propel growth in the waffle makers market at a fast pace over the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global waffle maker market is observing vibrant growth on account of increasing disposable incomes and growing food and service industry. Additionally, rising awareness regarding health issues has led to more people cooking at home resulting in increased demand for waffle makers.
On the basis of regional platform, global waffle Maker market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The North American market is anticipated to showcase a decent growth rate on the account of rising awareness regarding healthcare issues in the region which further leads to increasing consumption of healthy low energy consumption homemade food.
Asia Pacific is expected to drive demand and positively impact waffle Maker market growth over the forecast period on account of increasing waffle maker application in restaurants, homes and commercial work places. The changing eating habits in the emerging economies are anticipated to increase the demand for waffle makers in countries such as India, China and many other countries in the Asia-Pacific region.
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Leading Companies of Global Market:
VonShef, Waring, Krampouz, Star Manufacturing International, Nordic Ware, Nemco Food Equipment, Brentwood Appliances, Wells Manufacturing, Cuisinart, Sage Appliances, Other Key Players.
Market Segmentation on the basis of:
By Raw Material, By Size, By Shape, By End-User Industries, By Number of Waffles, By Region, And by Leading Companies of Global Market.
Growth Drivers & Challenges
Technological advancement in the waffle maker is attracting more consumers towards buying waffle makers for household cooking due to ease in the cooking process. Additionally, increasing personal disposable income along with cost-effective products range is anticipated to increase the demand for waffle makers market. Moreover, low energy consumption, and increasing health concerns, is the major factor that is driving the waffle maker market across the globe.
Consequently, increased demand has resulted in decreased prices of these products especially in the developing countries. Changing eating habits across regions is resulting in high demand of waffle makers. Additionally, increasing trend of fast food consumption and western eating habits in the developing economies has propelled the demand of waffle maker globally.
However, factors for instance long pre-heat times, longer bake time, regular maintenance are some of the major market restraints that are predicted to affect the waffle bakers market across the globe.
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