The new report by Expert Market Research titled, ‘Latin America Bakery Products Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the Latin America bakery products market, assessing the market based on its segments like product types, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 1.5% (Brazil Retail Confectionery Market)
The sales of bakery products are predicted to rise in the upcoming years as a result of factors such as a rising preference for ethnic foods, changes in the flavour, texture, and taste of bakery items, health consciousness, and growing demand for breakfast grains and cereals. The increased demand for bakery items such as pastries, fruit pies, donuts, and croissants is predicted to boost regional bakery sales. As a result, shops are responding to this need by producing organic baked goods, healthier breakfast foods, and ‘free-from’ products in order to maintain customer loyalty and drive market growth. An increase in out-of-home consumption, increased desire for fast and nutritious items, rapid urbanisation, and an increase in the working population, are all contributing to the market growth.
Industry Definition and Major Segments
Baking is the oldest cooking procedure and is used to make everyday products like bread, cakes, pastries, pies, cookies, and donuts. Bakery items are made with a variety of ingredients, including rice, water, and leavening agents, depending on the grain.
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By product type, the market is divided into:
• Biscuits
o Cookies
o Cream Biscuits
o Glucose Biscuits
o Marie Biscuits
o Milk Biscuits
o Non-Salt Cracker Biscuits
o Salt Cracker Biscuits
o Others
o Artisanal Bakeries
o In-Store Bakeries
o Packaged
• Cakes and Pastries
o Artisanal Bakeries
o In-Store Bakeries
o Packaged
• Rusks
o Artisanal Bakeries
o In-Store Bakeries
o Packaged
• Others
On the basis of distribution channel, the market is segmented into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Independent Retailers
• Special Stores
• Online
• Others
The regional markets for the product include:
• Brazil
• Argentina
• Mexico
Market Trends
The market for bakery products in Latin America is estimated to rise as the market develops. The global coronavirus pandemic slowed market growth in the first half of 2020; however, the market started to recover by the end of the year due to the government efforts to ensure continued availability of adequate, safe, and nutritious food by ensuring the smooth operation of local, regional, and national wholesale markets and by providing technical and financial assistance to small and medium-sized agro-industrial farmers. Such policies are also expected to improve food items, which would help the industry to grow. Further, market players are investing heavily in research and development (R&D) operations in order to introduce organoleptically better products to the market.
Key Market Players
The major players in the market are Grupo Bimbo, Empresas Carozzi SA, Barry Callebaut AG, Arcor Group and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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