Project report for Wafer Biscuit

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A wafer is a crisp, often sweet, very thin, flat, light and dry cookie, often used to decorate ice cream, and also used as a garnish on some sweet dishes.  Wafers can also be made into cookies with cream flavoring sandwiched between them. They frequently have a waffle surface pattern but may also be patterned with insignia of the food's manufacturer or may be pattern less. Some chocolate bars, such as Kit Kat and Coffee Crisp, are wafers with chocolate in and around them. Wafer biscuits are another bakery product which has gained popularity in recent times. Wafer biscuits are of two type cream filled sandwich type where cream is filled between two layers of wafer s sheets which are then cut into wafer fingers and then packed. Second type is coated type normally wafers are coated or enrobed by chocolate layer.

The wafer sheets are prepared by baking between pairs of heated metal plates and usually bear intricate surface patterns derived from these baking plates. Most wafer sheets are rather tasteless, baked from a simple batter containing little to no sugar. Recently, there has been growth in interest for a new type of wafer product, the hollow rolled wafer. However, rising health concerns among consumers poses a major threat to the market growth, especially in developed countries.  As a result, manufacturers are seeking to develop new healthier varieties to attract this health-conscious population. The rises in the number of alternative products, coupled with heavy competition restrain the market.

Market potential & Strategy

The wafer biscuits market is projected to register a CAGR of 5.12%, during the forecast period. The increasing urbanization, which can be attributed to the change in demographics and high disposable income, is fuelling the growth of the wager biscuits market. The high profit margins and proliferation of supermarkets have led to a growing interest in premium products, thus providing growth opportunities in the future. As the consumers crave for convenient breakfast options, the breakfast biscuit segment continues to record robust growth. One aspect that attracts customers is the availability of convenient and healthy on-the-go snack, and breakfast biscuits fit into this bracket. The growing preference for convenient snacking, coupled with easier consumer accessibility through the advancing retail sector, is one of the few factors augmenting the growth of wafer biscuits market, globally. Moreover, the booming demand for healthy snacking has led many manufacturers to introduce health-efficient biscuits with fortified active ingredients, mainly protein, fibre, and vitamins.

The increasing demand for convenience food, coupled with a rise in disposable incomes, drives the global wafer biscuits market growth. New product launches with unique flavours in the wafer industry ensure considerable market growth in the foreseeable future. Moreover, the growth of emerging economies and value addition are anticipated to further fuel the market size.

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