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Wafer ; The industry expanded over Covid-1923 Haziran 2022
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Covid 19.. The epidemic that has shaken nearly the all trade industries except health all over the world. Did you ever know that it has developed the wafer and biscuits industries.
Now the fact that everyone got fatter during the pandemic makes sense from a different aspect. It seems that everyone has taken a bite from a wafer during the boring curfews. More interesting part is that the eating habits that we developed during the pandemic has continued afterwards as it is derived from the economical data and expectations.
If we take a look at the numbers during the pandemic it might be thought that eating wafers might be a precaution from getting the Covid-19. What about the afterwards ? What we can say about the afterwards is that the wafer and biscuit industry that worth 85 billion dollars, is expected to become 110 billion dollar industry with a 4,7 CAGR (compound annual growth rate) in 2025.
The reason of this growth comes from the habits that people has gained during the pandemic. Consumers have developed a tendency to buy ready to consume, packed products in consideration of hygiene, accesibility and diversity even after the pandemic has passed. The effect of affordibility that leads consumers to packed products during Covid 19 is undeniable. Online supermarkets and practicality of ordering everything from mobile applications on grocery shopping has sparked the growth of the industry. Because the wafer industry is a perfect match for online retail with easy to preserve and easy to access products.
However the pandemic is not the only reason the growth of the industry. Increasing urbanization, changing consumer habits and increasing affordability are other factors. It seems that the increasing food affordability per capita especially in developing countries will become an engine of the industry.
In brief, the changing world indicates that the investment in wafer and biscuit industry seems a sweet decision to keep in sight in these days.