(Food-Beverage-News.Com, March 22, 2018 ) The Latin America Frozen Bakery Products market has been estimated at USD 1,198.6 million in 2016 and is projected to reach USD 2,113.9 million by 2022, at a CAGR of 10.03% during the forecast period from 2016 to 2022.
Deep frozen food products that can be stored and used over a long time period are referred as frozen foods. Some of the Bakery items are stored at sub-zero temperatures to preserve food for a longer time in comparison to fresh food. Also, they are refrigerated for ready-to-eat purpose, which makes it convenient for the consumers.
The market for frozen bakery products in Latin America is mainly driven with the changing consumer lifestyle coupled with increasing processed food demand. Also, economic growth along with the changing living standard and food culture of the population is also driving the market for frozen bakery products. But, the market growth can be hampered due to preference for freshly baked products, scarcity of raw materials and intense competition for the same.
Latin America market for Frozen Bakery Products is segmented based on type and distribution channel. By type, the market is further sub-segmented into Frozen Bread, Frozen Pizza Crust, Frozen Cake & Pastry. By Distribution Channel, the market is further sub-segmented into Artisan Baker, Retail, Catering. Frozen bread market consists of the largest share followed by the frozen cakes and pastries market among others. Increased consumption of bread has created a saturated market for frozen bread while frozen cakes and pastries are growing fast.
Geographically, Latin America market for Frozen Bakery Products is segmented into Brazil, Argentina and Mexico. The market in Latin America is proceeding with high CAGR. The emergence of supermarkets and online stores is ensuring the product availability in these emerging countries, which is also driving the companies to expand their markets in these regions.
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