Latin America Frozen Bakery Products Market

Latin America Frozen Bakery Products Market Growth and Forecast (2023 - 2028):

The Size of Latin America Frozen Bakery Products Market was assessed to be US$ 4.3 billion in 2022, and it is projected to progress at a valuation of US$ 5.7 billion by the end of 2028, garnering a CAGR of around 6% during the calculated period of 2023 - 2028.

Market Overview:

Given fast advances in retail space and rising extra cash levels in most of the populace, the LATAM frozen bakery market is seeing a huge development as of late. Additionally, the robust episode of inexpensive food outlets and café networks has additionally driven the LATAM frozen bakery to grow. In this way, that the overall valuation of the Latin America frozen bakery products market hit USD4.3billion in 2017, which demonstrates that this specific business circle stands to multiply in the coming years energized by various new item launches, rising speculation slants and expanded consideration from industry magnates.

Recent Developments in Latin America Frozen Bakery Products Industry:

• In 2017, Bimbo Colombia set up another production plant and distribution centre in the Cundinamarca branch of Colombia. To this end, the organization put USD 8.6 million in development.
• In 2016, Grupo Bimbo S.A.B De C.V declared the obtaining of the General Mills Argentinas bakery business.
• Aryzta, the Swiss-Irish frozen bakery market player, which has as of late reported designs to construct an industrial facility in Brazil that processes frozen items.

Latin America Frozen Bakery Products Market Dynamics:

Bread is said to represent over 60% in the Latin America frozen bakery products market by volume in 2017. The classification is assessed to cross 63% by 2024. The viennoiserie portion has additionally bolted its noticeable industry share regarding income, with valuation surpassing USD7000m in 2017.

When talking about powerful fragment development, Columbia – the third biggest nation in Latin America after Brazil and Mexico – has uncovered itself as a worthwhile speculation ground for potential partners because of positive development in the inexpensive food industry.

Drivers:

Shoppers looking for convenience when purchasing food are one of the key drivers that drive the development of the Latin America frozen bakery products market. Preparation stores are likewise significant for purchasers with regards to food utilization. It decreases family unit tasks each day. Along these lines, frozen foods gain significance among their objective clients. The interest in different kinds of frozen foods has expanded lately, because of the various medical advantages related to the item. Frozen foods are pressed with supplements, which prompts a longer time span of usability. This at the same time expands the interest for an assortment of frozen food items, giving a chance to the Latin America market for frozen bakery items to develop. Subsequently, other food makers plan systems to produce items that address the issues of their clients. Likewise, comfort factors are viewed as one of the most powerful patterns in the LatinAmerica frozen bakery items market. Customers search for foods that are wealthy in sustenance and advance other medical advantages. These foods are portrayed by long haul safeguarding of dietary substance.

Restraints:

Be that as it may, the costs of crude materials for bakery items and the inclination for freshly prepared foods hamper the Latin America market for frozen bakery products. What's more, the ascent in corpulence and diabetes cases go about as a hindrance for the extension of the territorial market.

Latin America Frozen Bakery Products Market Segmentation Analysis:

By Product:

• Bread
• Pizza Crust
• Cakes & Pastries
• Waffles
• Donuts
• Cookies

The bread segment accounted for the lion’s share in the Latin America frozen bakery products market due to the high intake among the local consumers.

By Source:

• Corn
• Wheat
• Barley
• Rye

Corn is among the most commonly found products in Latin America, as it is integrated in almost all cuisines in Mexico and other nations.

By End-Use:

• Retail
• Food Service Industry
• Food Processing Industry

By Distribution Channel:

• Bakery and Confectionery
• Retail
• Catering
• Online Channel

The online channel is foreseen to progress with a tremendous annual growth rate in the Latin American market in the calculated years.

Regional Analysis:

Colombia, the third biggest nation in Latin America, is rising as a great venture for potential partners in the frozen bakery products market, given the positive development of the inexpensive food industry. Another significant factor that drives Colombia's frozen bakery items industry is the expansion of the packaged food part throughout the years. Aside from this nation, Argentina and Mexico are likewise considered as potential markets for interest in the anticipated years, inferable from the ready to eat foods implanted in these territories.

Key Players in the Market:

Major Key Players in the Latin America Frozen Bakery Products Market are

• Dawn Food Products, Inc.
• General Mills, Inc.
• Bridgford Foods Corporation
• Lantmannen
• T. Marzetti Company
• Aryzta AG
• Associated British Foods Plc
• Flower Foods Inc.
• Grupo Bimbo S.A.B
• Europastry S.A