Waffle Maker Market Size
| Study Period | 2020-2029 |
| Market Size (2024) | USD 234 Million |
| Market Size (2029) | USD 389 Million |
| CAGR (2024 - 2029) | > 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Waffle Maker Market Analysis
The Waffle Maker Market size is estimated at USD 234 million in 2024, and is expected to reach USD 389 million by 2029, growing at a CAGR of greater than 5.5% during the forecast period (2024-2029).
The market for compact kitchen appliances includes the waffle maker. A growing combination of innovation and quality is driving the growth of large categories of waffle makers. Due to increased disposable money and changing global lifestyles, waffle makers are predicted to develop quickly. Additionally, consumers from a wide range of socioeconomic backgrounds, as well as those from Western nations like the US and Canada, view waffles as a staple breakfast dish. Additionally, the global market growth for waffle makers has crystallized due to the increasing consolidation of value-added features, which is encouraging the supply of higher-quality products to consumers.
Waffle makers are becoming more and more popular among consumers for family meals because of their simple cooking cycle, low running costs, high efficiency, high productivity, less counter space taken up, and simplicity of cleaning and sanitizing. It's also anticipated that growing additional income on hand for each person combined with a smart item collection would boost interest in the waffle producer's market. Moreover, the main problems are low energy consumption and increased health risks. To address these issues, a lot of global businesses are concentrating on developing new waffle-making products.
Along with their sturdy features—like temperature controls and timers—and compact design for industrial kitchens, these waffle makers also save energy. Additionally, throughout the forecast period, the growing tendency of developing economies to shift to Western meals is anticipated to fuel the market for waffle producers' growth at a rapid pace. On the other hand, some of the primary industrial barriers that are anticipated to affect the worldwide waffle maker market are lengthy pre-heat periods, lengthier bake times, and daily maintenance.
Waffle Maker Market Trends
Rising Consumer Spending Power is Driving the Market
The current lifestyle of consumers necessitates that each appliance not only meets their requirements but also contributes to their daily lives. The COVID-19 pandemic has led to an increase in the number of people who are responsible for cooking and cleaning their own homes. Despite the end of the lockdown, this trend has continued, suggesting that there is a continuing need for home appliances and that the sector has experienced a remarkable expansion in recent years. The global waffle maker market is primarily driven by the increasing urban population and the increasing demand for on-demand snacks, especially in developed and developing economies. Additionally, the business drivers driving the development of global cracker exchange portions include the acceleration of urbanization, the increase in disposable income, and the commencement of settled lifestyles. As urbanization and premiumization become increasingly prominent, brands are investing heavily in product innovation. In the past, market penetration was a primary factor in increasing market share. However, this is gradually becoming less of an issue. Industry players have come to understand that while it is important to achieve scale, it is also necessary to redesign products to meet local consumer requirements. This can involve personalizing the design or features of the product, as well as incorporating consumer insights into the product.
Rise In The Demand For Belgian Waffle Maker
Due to its ability to create thick, deep waffles, the Belgian waffle maker is anticipated to hold the biggest market share in the world. While most other versions only produce one or two waffles at a time, this one can make up to three at once. Moreover, the Belgian waffle maker's wider cooking surfaces allow it to switch between baking and steaming at the same time, unlike its competitors. The market share of waffle makers worldwide is dominated by the commercial segment. Although they are more expensive than residential ones, commercial waffle makers are frequently used in restaurant or hotel kitchens to prepare medium-to-large amounts of waffles. The most well-known brands in this industry are Cuisinart, Black + Decker, and Waring Pro.
Waffle iron sales have increased as a result of waffDue to its ability to create thick, deep waffles, the Belgian waffle maker is anticipated to hold the biggest market share in the world. While most other versions only produce one or two waffles at a time, this one can make up to three at once. Moreover, the Belgian waffle maker's wider cooking surfaces allow it to switch between baking and steaming at the same time, unlike its competitors. The commercial segment dominates the market share of waffle makers worldwide. Although they are more expensive than residential ones, commercial waffle makers are frequently used in restaurant or hotel kitchens to prepare medium-to-large amounts of waffles. The most well-known brands in this industry are Cuisinart, Black + Decker, and Waring Pro.
Waffle iron sales have increased as a result of waffles' growing appeal. The growing inclination towards fresh food goods and the popularity of "clean eating" are driving the market's rapid expansion. In addition, new waffle irons, like Belgian Waffle Grills and Belgian Waffle Machines, have been introduced to accommodate demand as a result of the growing popularity of the dish.les' growing appeal. The growing inclination towards fresh food goods and the popularity of "clean eating" are driving the market's rapid expansion. In addition, new waffle irons, like Belgian Waffle Grills and Belgian Waffle Machines, have been introduced to accommodate demand as a result of the growing popularity in the dish.
Waffle Maker Industry Overview
The waffle maker market tends to be competitive, as the presence of many players characterizes it. 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 minimize 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, Krampouz, Cuisinart, Krups, and Breville.
Waffle Maker Market Leaders
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Hamilton Beach
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Krampouz
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Cuisinart
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Krups
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Conair
*Disclaimer: Major Players sorted in no particular order
Waffle Maker Market News
- September 2023: Small appliance maker Conair LLC acquired The Fulham Group, the exclusive maker of Cuisinart Outdoor Products and a long-term business partner, for an undisclosed sum. The Fulham Group, which makes grills, smokers, griddles, pizza ovens, heaters, and fire pits, will be renamed Cuisinart Outdoors. All employees will be retained in the transition and will remain in their current location in Newton, Mass.
- March 2023: Hamilton Beach Brands Holding Company entered into an exclusive multiyear agreement with Numilk to manufacture and sell commercial and consumer appliances for use with Numilk ingredient pouches. The companies are in the product design and engineering phase of a next-generation line of appliances that are expected to launch in early 2024.
Waffle Maker Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing popularity of waffles as a breakfast option all over the world
4.1.2 As consumer spending power and knowledge of the food and service industries increases, the waffle maker market is expanding
4.2 Market Restraints
4.2.1 Economic recession may affect customers purchasing ability
4.3 Market Opportunities
4.3.1 Growing trends of mini waffle makers on social sites will create a lucrative opportunity for residential waffle makers market
4.3.2 Continuous changes in eating habits in developed countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Industry Value Chain Analysis
4.6 Insights into technological advancements in the industry
4.7 Insights on Recent Developments (new product launches, investments, partnerships, JVs, etc.) in the Market
4.8 Impact of COVID-19 on the market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Stove-Top Waffle Irons
5.1.2 Classic Round Waffle Makers
5.1.3 Square Belgian Waffle Makers
5.1.4 Round
5.2 By End-User
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 Multi-Branded Stores
5.3.4 Online
5.3.5 Others
5.4 By Geography
5.4.1 North America
5.4.2 Middle East and Africa
5.4.3 Europe
5.4.4 Asia-Pacific
5.4.5 South America
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Hamilton Beach
6.2.2 Krampouz
6.2.3 Cuisinart
6.2.4 Krups
6.2.5 Conair
6.2.6 Breville
6.2.7 Proctor Silex
6.2.8 All-Clad
6.2.9 Waring
6.2.10 Empower Brands, LLC.
6.2.11 Star Manufacturing International
6.2.12 Dash*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER
Waffle Maker Industry Segmentation
A waffle maker is a simple gadget that helps to make amazing treats, and there are a variety of models and items available to get the fluffiest waffle possible. The study provides a comprehensive context analysis of critical parameters that influence the Waffle Maker market's development. The report is a systematic primary and secondary research study that offers market size, industry growth opportunities and challenges, existing market trends, potential players, and the market's projected success in the near future around the world.
The Waffle Maker Market is The Waffle Maker Market is segmented by type (stove-top waffle irons, classic round waffle makers, square Belgian waffle makers, round Belgian waffle makers and other types), by end-user (residential and commercial), by distribution channel (multi-branded stores, specialty stores, online, and other distribution channels) and by geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa). The Report Offers Market Size and Forecast in Value (USD) for all the Above Segments.
| By Type | |
| Stove-Top Waffle Irons | |
| Classic Round Waffle Makers | |
| Square Belgian Waffle Makers | |
| Round |
| By End-User | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| Multi-Branded Stores | |
| Online | |
| Others |
| By Geography | |
| North America | |
| Middle East and Africa | |
| Europe | |
| Asia-Pacific | |
| South America |
Waffle Maker Market Research FAQs
How big is the Waffle Maker Market?
The Waffle Maker Market size is expected to reach USD 234 million in 2024 and grow at a CAGR of greater than 5.5% to reach USD 389 million by 2029.
What is the current Waffle Maker Market size?
In 2024, the Waffle Maker Market size is expected to reach USD 234 million.
Who are the key players in Waffle Maker Market?
Hamilton Beach, Krampouz, Cuisinart, Krups and Conair are the major companies operating in the Waffle Maker Market.
Which is the fastest growing region in Waffle Maker Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Waffle Maker Market?
In 2024, the North America accounts for the largest market share in Waffle Maker Market.
What years does this Waffle Maker Market cover, and what was the market size in 2023?
In 2023, the Waffle Maker Market size was estimated at USD 221.13 million. The report covers the Waffle Maker Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Waffle Maker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Waffle Maker Industry Report
Statistics for the 2024 Waffle Maker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Waffle Maker analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
