The market for frozen bakery products in Latin America is mainly driven with the changing consumer lifestyle coupled with increasing processed food demand.
Hyderabad, India -- (SBWIRE) -- 03/15/2018 -- Frozen bakery products provide the benefit of storage for a longer duration and also quick serving. They retain both quality and freshness even after being stored for a long duration. They are mainly available in quick service restaurants, gas stations, coffee chains, and in-store bakeries. Also, they do not require additional care to prevent the growth of microorganisms as the temperature under which they are stored would not allow it.
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The Latin America frozen bakery products market was estimated to be at a market value of USD 1.2 Billion in 2016 and is projected to rise at a CAGR 10.03% to reach USD 2.1 Billion by 2022 owing to the increase in demand for ready to bake food products.
Growing popularity of easy to consume food items, and drive for more prominent taste, security, and consistency are the main considerations driving the Latin American Frozen Bakery products.
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The high development potential in developing markets, for example, India and China and undiscovered districts give new development chances to the players in the Latin America frozen bakery products market.
Key drivers of the market are ease of consumption of these items, rising taste consistency requirement among customers, and improvement in retail channels serving these items. In any case, the absence of refrigeration in certain retail locations and lacking circulation offices in rural and semi-urban territories can hinder the Latin America Frozen Bakery Products market. Also, high expenditure of packaging and transportation may limit the market growth.
Geographically, the market is categorized into Brazil, Argentina, and Mexico. The market is propelled by the rise of online stores and supermarkets and is expected to have a consistent growth rate in the forecast period.
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Some of the key players of Latin America frozen bakery products market include Associated British Foods plc, ARYZTA AG, Lantmannen Unibake International, EUROPASTRY, SA, General Mills, Inc., and Kellogg Company , Premier Foods Plc, Vandemoortele NV, ConAgra Foods, Inc. and Grupo Bimbo S.A.B. de C.V.
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