North America Frozen Belgian Waffle Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The North America frozen Belgian waffle market size is expected to reach US$ 612.59 million by 2031 from US$ 411.80 million in 2023. The market is estimated to record a CAGR of 5.1% from 2023 to 2031.

Executive Summary and North America Frozen Belgian Waffle Market Analysis:

Frozen Belgian waffles are a popular convenience food frequently consumed for a quick breakfast. They are ready-to-eat, convenient, and can be prepared in the microwave with minimum effort. Frozen Belgian waffles are ideal for busy consumers looking for quick and easy meal options. The rising popularity of processed and ready-to-eat foods has positively impacted the North America frozen Belgian waffles market. Consumers in North America are seeking more diverse and indulgent options, which has encouraged the consumption of products such as frozen Belgian waffles.

The simplicity and quick preparation times of frozen Belgian waffles make them an attractive option for restaurants, cafes, and quick-service restaurants (QSRs), aiming to offer a delicious, yet efficient breakfast experience. Food services capitalize on the diverse appeal of Belgian waffles by incorporating them into an array of culinary offerings, from traditional breakfast plates to innovative dessert options. This adaptability allows establishments to cater to the growing demand for on-the-go breakfasts and indulgent treats, enhancing their competitive edge in the fast-paced food market.

The major player in the market expanding it product portfolio due to increasing demand for the frozen Belgian waffles. For instance, Belgian Boys, a New York City-based brand, is expanding its line of Belgium-born breakfast treats to the refrigerated case, attracting a growing number of consumers looking for fresh-made, European-inspired morning snacks. The brand offers a variety of Belgian waffles, French toast, crepes, and mini pancakes, along with cookies, stroopwafels, and other sweet treats, catering to the growing demand for easy-to-eat breakfast options in the US.

North America Frozen Belgian Waffle Market Segmentation Analysis:

Key segments that contributed to the derivation of the frozen Belgian waffle market analysis are product type, nature, category, and end user.

By product type, the frozen Belgian waffle market is bifurcated into Brussels waffles and liege waffles/Belgian sugar waffle. The Brussels waffles held a larger share of the market in 2023.

By nature, the frozen Belgian waffle market is bifurcated into flavored and plain. The flavored held a larger share of the market in 2023.

In terms of category, the frozen Belgian waffle market is bifurcated into conventional and gluten-free. The conventional held a larger share of the market in 2023

By end user, the frozen Belgian waffle market is bifurcated into foodservice and food retail. The food retail held a larger share of the market in 2023.

North America Frozen Belgian Waffle Market Outlook

Quick service restaurants (QSR) have gained major traction as consumers increasingly prioritize convenience owing to their fast-paced lifestyle. Consumers are not able to focus on their personal lives due to the increasing number of single-person households and dual-income families. Therefore, they seek convenient products that help save time and effort. QSRs and fast-food restaurants offer mass-produced products in no time, offering huge convenience to consumers. These restaurants are becoming popular because they offer a variety of food in less time and at affordable prices. Consumers seek convenience and quick service with their food. According to the National Restaurant Association, QSR enjoyed a 3% traffic uptick in 2023 in the US than 2020. QSR caters to the needs of the consumers as they offer to sit and dine, along with numerous services such as drive-thru, takeout, and home delivery, which suit the modern lifestyle of the consumers.

Due to the growth and expansion of QSRs, the demand for frozen Belgian waffles has also increased. The QSRs mainly demand frozen products such as waffles, which require less preparation time and are easy to use. This helps the QSRs provide consumers with their food quickly. Thus, the expansion of quick-service restaurants is driving the frozen Belgian waffles market.

North America Frozen Belgian Waffle Market Country Insights

Based on country, the North America frozen Belgian waffle market comprises the US, Canada, and Mexico. The US held the largest share in 2023.

The US dominates the North America frozen Belgian waffles market due to the high consumption of waffles and availability of a wide variety of flavors. Due to hectic work schedules, consumers are looking for products that help them save time and effort. Consumers prefer ready-to-eat, microwaveable, and ready-to-prepare food items. This is the primary factor fueling the demand for frozen Belgian waffles in the US. Major market players are focusing on product innovation and expanding their offerings due to the increasing demand for frozen Belgian waffles.

Moreover, the demand for frozen food products is increasing across the US as they have an extended shelf life, are suitable for single-person consumption, and can be prepared quickly. As the popularity of frozen Belgian waffles continues to rise, foodservices providers, including hotels, restaurants, and other dining establishments, are incorporating frozen Belgian waffles into their menus to meet the growing demand from customers. The American Frozen Food Institute and Food Industry Association's "Power of Frozen" report indicated a 21% increase in US frozen food sales in 2022. Thus, the US frozen Belgian waffles market is growing due to rising demand for convenience food and frozen products.

North America Frozen Belgian Waffle Market Company Profiles

Some of the key players operating in the market include H E B, LP; Avieta SA; Kellanova; Conagra Brands Inc; General Mills Inc; McCain Foods Ltd; Belgian Waffles Thijs; La Lorraine Bakery Group; Riviana Foods Pty Ltd; B Boys Inc; Julian's Recipe LLC; Send Me Waffles; and Mountain Waffle Co among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

North America Frozen Belgian Waffle Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

Company websites, annual reports, financial statements, broker analyses, and investor presentations.

Industry trade journals and other relevant publications.

Government documents, statistical databases, and market reports.

News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

Primary Research

The Insight Partners' conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

Validate and refine findings from secondary research.

Enhance the expertise and market understanding of the analysis team.

Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers

External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Product Code: BMIRE00031905

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Market Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Frozen Belgian Waffles Market Landscape

4.1 Market Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers:
- 4.3.2 Manufacturing Process:
- 4.3.3 Distributors or Suppliers:
- 4.3.4 End Users:
- 4.3.5 List of Vendors in the Value Chain

5. North America Frozen Belgian Waffles Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Expansion of Quick Service Restaurants
- 5.1.2 Product Innovations and Strategic Initiatives
5.2 Market Restraints
- 5.2.1 Increasing Instances of Product Recalls
5.3 Market Opportunities
- 5.3.1 Advancements in Cold Chain Infrastructure
5.4 Future Trends
- 5.4.1 Preference for Gluten-Free Waffles
5.5 Impact of Drivers and Restraints:

6. Frozen Belgian Waffles Market - North America Analysis

6.1 Frozen Belgian Waffles Market Revenue (US$ Million), 2021-2031
6.2 Frozen Belgian Waffles Market Forecast Analysis

7. North America Frozen Belgian Waffles Market Analysis - by Product Type

7.1 Brussels Waffles
- 7.1.1 Overview
- 7.1.2 Brussels Waffles: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Liege Waffles/Belgian Sugar Waffle
- 7.2.1 Overview
- 7.2.2 Liege Waffles/Belgian Sugar Waffle: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Frozen Belgian Waffles Market Analysis - by Nature

8.1 Flavored
- 8.1.1 Overview
- 8.1.2 Flavored: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Plain
- 8.2.1 Overview
- 8.2.2 Plain: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Frozen Belgian Waffles Market Analysis - by Category

9.1 Conventional
- 9.1.1 Overview
- 9.1.2 Conventional: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Gluten-Free
- 9.2.1 Overview
- 9.2.2 Gluten-Free: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Frozen Belgian Waffles Market Analysis - by End User

10.1 Foodservice
- 10.1.1 Overview
- 10.1.2 Foodservice: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
10.2 Food Retail
- 10.2.1 Overview
- 10.2.2 Food Retail: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)

11. North America Frozen Belgian Waffles Market - Country Analysis

11.1 North America
- 11.1.1 North America: Frozen Belgian Waffles Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 North America: Frozen Belgian Waffles Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 United States: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 United States: Frozen Belgian Waffles Market Breakdown, by Product Type
    - 11.1.1.2.2 United States: Frozen Belgian Waffles Market Breakdown, by Nature
    - 11.1.1.2.3 United States: Frozen Belgian Waffles Market Breakdown, by Category
    - 11.1.1.2.4 United States: Frozen Belgian Waffles Market Breakdown, by End User
  - 11.1.1.3 Canada: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Canada: Frozen Belgian Waffles Market Breakdown, by Product Type
    - 11.1.1.3.2 Canada: Frozen Belgian Waffles Market Breakdown, by Nature
    - 11.1.1.3.3 Canada: Frozen Belgian Waffles Market Breakdown, by Category
    - 11.1.1.3.4 Canada: Frozen Belgian Waffles Market Breakdown, by End User
  - 11.1.1.4 Mexico: Frozen Belgian Waffles Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Mexico: Frozen Belgian Waffles Market Breakdown, by Product Type
    - 11.1.1.4.2 Mexico: Frozen Belgian Waffles Market Breakdown, by Nature
    - 11.1.1.4.3 Mexico: Frozen Belgian Waffles Market Breakdown, by Category
    - 11.1.1.4.4 Mexico: Frozen Belgian Waffles Market Breakdown, by End User

12. Competitive Landscape

12.1 Heat Map Analysis
12.2 Company Positioning & Concentration

13. Company Profiles

13.1 H E B, LP
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Avieta SA
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Kellanova
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Conagra Brands Inc
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 General Mills Inc
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 McCain Foods Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Belgian Waffles Thijs
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 La Lorraine Bakery Group
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Riviana Foods Pty Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 B Boys Inc
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Julian's Recipe LLC
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Send Me Waffles
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments
13.13 Mountain Waffle Co
- 13.13.1 Key Facts
- 13.13.2 Business Description
- 13.13.3 Products and Services
- 13.13.4 Financial Overview
- 13.13.5 SWOT Analysis
- 13.13.6 Key Developments

14. Appendix

14.1 About The Insight Partners