Latin America Pastries Market

Latin America Pastries Market Growth and Forecast (2023 - 2028):

Latin America Pastries Market was worth USD 4.9 billion in 2022 and estimated to be growing at a CAGR of 2.2%, to reach USD 5.47 billion by 2028.

Market Overview:

Pastry is a dough of flour, water and shortening that may be savoury or sweetened. Sweetened pastries are often described as bakers' confectionery.

The word "pastries" refer to many kinds of baked products that are made from ingredients such as flour, sugar, milk, butter, baking powder, shortening, and eggs. The pastry varies from bread by having a higher fat content, which contributes to a flaky or crumbly texture.

Drivers and Restraints:

The Latin America Pastries market is driven by the rising demand, increase in urbanization leading to higher availability of bakeries. However, health concerns are a major factor restraining market growth. Therefore, to attract the health conscious populace, the vendors introduced healthier varieties with lesser fat content. Also, the rapid growth in home baking also acts as a restraint on market growth as it reduces the demand for packaged pastries.

Latin America Pastries Market Segmentation Analysis:

The Latin America Pastries market is segmented on the basis of taste, sales and by distribution channels. On the basis of taste, the market is segmented into sweet and savoury. On the basis of sales, the market is further categorised into packaged pastries and artisanal and in-store bakeries. On the basis of distribution channel, the market is distributed among online sales, supermarkets/hypermarkets, convenience stores and others.

Region Analysis:

Geographically the Latin America Pastries Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. The huge rise in spending in the Pastries market has increased the demand in the market. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia. The availability of large customer base with rising disposable incomes is set to drive the market in the foreseeable future.

Key Players in the Market:

Major Key Players in the Latin America Pastries Market are

• American Baking Company,
• Aryzta
• BreadTalk
• Britannia
• Edeka
• Edwards
• Edwards Cake & Candy Supplies
• Finsbury
• FlowerFoods
• George Weston
• Groupo Bimbo
• Hillshire Brands
• Hostess Brands
• McKee Foods
• Monginis
• Mulino bianco
• Pepperidge Farm
• Tyson Foods
• Yamazaki Baking