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LATAM Frozen Bakery Market to depict appreciable growth prospects over 2018-2024, rising urbanization is one of the major growth drivers

Author : Rahul Sankrityayan | Published Date : 2019-03-25 

The LATAM frozen bakery market, in the recent years, is witnessing a significant growth, given the rapid advancements in the retail space and rising disposable income levels of majority of the population. The robust outbreak of fast food outlets and restaurant chains have further led the LATAM frozen bakery industry to traverse along a lucrative growth graph in the past few years. The overall valuation of the LATAM frozen bakery market hitting USD 4.3 billion in 2017, stands as a valuable substantiation to the fact that this business sphere is to nothing but proliferate in the coming years, with new product launches, rising investment trends, and increasing number of industry magnates’ going the whole hog to establish their stance in this multi-billion-dollar business cosmos.

Aryzta, the Swiss-Irish frozen bakery market player, has recently unveiled its plan to build a factory in Brazil, which would manufacture frozen products. It has been reported that the plant would be Aryzta’s fifth in the country and it will be investing 150 million Brazilian real (€33.8m) for the bread making facility. Aryzta is further seen strengthening its ties with the local customers including the food-service outlets of Subway, Burger King, and Starbucks, while it is supplying its frozen bakery products to Prezunic and Walmart in the retail sector. If reports are to be believed, these quick serving restaurants – that forms the important channel for Aryzta – accounts for more than 50% of food-service revenue in Brazil.

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The aforementioned instance highlights two prominent factors. The first being the expanding investment of the global industry players in LATAM regions for extracting hefty ROI, and the large-scale expansion of the fast food chains such as Subway and Domino’s leading to greater pickup in demand for bread, frozen dough, and viennoiserie.

On this note, it is imperative to mention that in terms of recipe, bread accounted for more than 60% if the overall LATAM frozen bakery market share by volume in 2017 and is estimated to cross 63% by 2024. The viennoiserie segment has further locked its prominent industry share in terms of revenue, with valuation exceeding USD 700 million in 2017.

Speaking of the robust segment growth, Colombia, the third largest country of Latin America, after Brazil and Mexico, is emerging as the lucrative investment ground for the potential stakeholders, given the positive growth of the fast-food industry. An apt instance bearing testimony to the same is of Grupo Bimbo S.A.B. de C.V., who acquired a Colombian frozen baked food company Panettiere in 2016, in an ambitious attempt to expand its participation in the growing in-store & food service bakery channels in the region. Reports claim that leveraging the company’s product line including ciabatta, baguettes, croissant, flautas, hojaldre (puff pastry), sandwich rolls, muffins and blandito (soft bread), Panettiere will be part of the Bimbo’s LATAM frozen bakery business.

This growth has further the product demand for frozen dough particularly to make burgers breads and pizza base, in turn fueling the LATAM frozen bakery industry growth. Reliable reports claim that, based on the regional landscape of the LATAM frozen bakery market size, Colombia, is estimated to registered a healthy CAGR of 6% over 2018-2024. The development of different retail channels coupled with increasing number of hotels and restaurants leading to significant increase in bakery products demand such as cakes, pastries, and breads, has been attributable to the overall regional growth.

Reports further claim that one of the most important factors driving Colombia’s frozen bakery industry is the robust proliferation of the packaged food industry in the last couple of years. In fact, the annual per capita consumption of the processed foods was projected to be more than USD 330 million in 2016, according to the National Association of Colombian Business, while it is prudent to note that the global packaged food sales, is also witnessing a boost, up from the USD 2,348.9 billion in 2014 to a steady growth of USD 2,516.2 billion in 2017.

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The growth of this business is further likely to gain prominence with prominent domestic players including Groupo Bimbo, General Mills, BredenMaster, and Europastry and other international giants investing in the region to have a preferential access to the faring F&B industry within the continent. According to Global Market Insights, Inc., the LATAM frozen bakery market is forecast to exceed USD 5.7 billion by 2024.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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