LATAM Frozen Bakery Market size is anticipated to record over 4.4% CAGR from 2023 to 2032, due to the emergence of busy lifestyles and the surging desire for quick and easy meal solutions.
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The adoption of automation and technology in production and distribution processes for enhanced efficiency and reduces costs is driving the increasing demand for frozen bakery products in the region. Of late, strong emphasis is laid on packaging innovations due to their cruciality in maintaining the quality of food items. To that end, the surging focus of multiple companies on exploring packaging solutions to preserve freshness, enhance product shelf life, and provide convenience for consumers will also play crucial role for the industry growth.
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||4.4%|
|Historical Data for:||2018 to 2022|
|No. of Pages:||92|
|Tables, Charts & Figures:||102|
|Segments covered:||Recipe, Product, End-User, and Region|
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For instance, in October 2023, packaging frontrunners Lantmännen Unibake, UPM Specialty Papers, and Adara joined forces to co-create a new fibre-based packaging to replace plastic bags as the primary packaging product for frozen baked goods.
The growing number of food safety regulations and quality standards in Latin America is another factor driving the frozen bakery market expansion. To cite an instance, in December 2021, the President of Argentina signed one of the worldwide strongest and most comprehensive health food policy laws. To that end, several companies in the region are aligning their practices with local as well as international regulations for ensuring product safety and compliance. However, the scaling interest in freshly baked products driven by the rising health-conscious levels may hamper the regional market growth to some extent.
The COVID-19 pandemic had moderate impact on the demand for frozen bakery products in LATAM driven by the closure of restaurants, cafes, and other foodservice establishments. The rising economic challenges and reduced incomes influenced consumer spending patterns leading to the higher preference for affordable options, further impacting the sales of premium and high-end frozen products. However, the growing preference for comfort foods with longer shelf life steered the increased demand for frozen and shelf-stable products in the region during the pandemic.
The rising consciousness of dietary restrictions and preferences among consumers is driving the demand for gluten-free and allergen-free frozen bakery products in Latin America. The increasing preference for premium and specialty frozen bakery products, including artisanal bread, gourmet pastries, and desserts to cater to consumers looking for unique and high-quality options will also boost the industry development.
LATAM frozen bakery industry share from the bread recipe segment is likely to observe by 2032, owing to the surging number of fast-food chains in the region.
The ready-to-bake product segment of the LATAM frozen bakery market will witness immense traction through 2032.
Based on end-use, the Latin America frozen bakery market size from the hypermarkets & supermarkets segment is set to gain momentum during 2023-2032.
Mexico frozen bakery market size is slated to record substantial growth between 2023 and 2032, led by the rising number of hyper markets and supermarkets as well as quick service restaurants in the region. As per the Mexican Association of Nationwide Retailers (ANTAD), there were nearly 93 supermarket chains in the country in 2021. The advent of busy lifestyles and the increasing number of dual-income households are contributing to the adoption of easy-to-prepare frozen bakery products. The robust growth of the e-commerce sector along the surging demand for gluten-free and allergen-free frozen bakery products will also add to the regional market expansion.
Leading frozen bakery companies in the LATAM market are constantly focusing on strategies, such as production expansion, mergers & acquisitions, and innovations to widen their customer base and geographical footprint. For instance, Bimbo de Colombia, with rapid increase in production at its facilities, has emerged as a pioneer of fresh and frozen bread and bread-type cakes, rolls, pies, and other perishable bakery products.
Some of the other prominent LATAM frozen bakery industry players include:
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Market, By Recipe
Market, By Product
Market, By Product
The above information has been provided on country basis for the following: