Latin America Bakery Products Market Report and Forecast 2024-2032

Latin America Bakery Products Market Outlook

The Latin America bakery products market is supported by the growth of Brazil retail confectionery market, which attained USD 8.16 billion in 2023. The market is expected to grow at a CAGR of 1.5% in the forecast period of 2024-2032.

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Increasing Preference for Ethnic Foods to Boost the Market Growth

Owing to the increasing preference for ethnic foods, differences of tastes along with texture and taste of bakery items, the health awareness, and the demand for breakfast grains and cereals, the sales of bakery products in the coming years are expected to rise in Latin America bakery product market over the coming years. In addition, food developments in the bakery products market, such as pastries, fruit pies, donuts, and croissants, are expected to boost the region's sales of bakery products. Certain factors such as the rise in out-of-home consumption, increased demand for instant and nutritious goods, rapid urbanisation, and the increase in the working population have resulted in a steady increase in bakery products in Latin America. Therefore, by introducing organic baked products, nutritious morning items, and 'free-from' brands, and maintaining customer loyalty, retailers cater to this rising demand for bakery products in Latin America. There by boosting the market growth.

Bakery Products: Market Segmentation

Baking, regarded as the oldest cooking method, is used to manufacture items such as bread, cakes, pastries, pies, cookies, and donuts for daily use. These products are prepared using different ingredients, such as rice, water, and leavening agents depending on the grain.

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By product type, the market is divided into:

• Biscuits
• Bread and Rolls
• Cakes and Pastries
• Rusks
• Others

Biscuits are further divided on the basis of type into cookies, cream biscuits, glucose biscuits, marie biscuits, milk biscuits, non-salt cracker biscuits, and salt cracker biscuits, among others. Bread and rolls, cake and pastries, and rusks are all sub-divided, on the basis of type, into artisanal bakeries, in-store bakeries, and packaged.

On the basis of distribution channel, the market is bifurcated into:

• Supermarkets and Hypermarkets
• Convenience Stores
• Independent Retailers
• Special Stores
• Online
• Others

The EMR report looks into the regional markets of the product like Brazil, Argentina, and Mexico.

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Rising Online Segment to Propel the Market Growth of Bakery Products in Latin America

Developments in bakery products is expected to boost the market growth of bakery products in Latin America. Due to the global coronavirus pandemic, the Latin America bakery product market witnessed a decline in 2020, especially in the initial period, however, owing to the government measures that ensured continued supply of sufficient, healthy and nutritious food by ensuring the daily functioning of local, regional and national wholesale markets and by providing technical and financial assistance to small and medium-sized agro-industrial farmers, the market started picking up its pace by the end of 2020. Such initiatives would further boost the demand for bakery products in Latin America over the forecast period. Also, the online retailing segment is gaining supremacy as it ensures timely and consistent supply of fresh and hygienic food staples during lockdown by keeping up with the government's social distancing guidelines to curb the spread of coronavirus.

Key Players in the Latin America Bakery Products Market

The report gives a detailed analysis of the following key players in the Latin America bakery products market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Grupo Bimbo
• Empresas Carozzi SA
• Barry Callebaut AG
• Arcor Group
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report