LATAM Frozen Bakery Market will surpass USD 5.7 billion by 2024. Rising economic growth resulting in an expansion of disposable income of the Colombian population has resulted in a vast increase in modern retail space across the country. This would further augment the demand for frozen bakery products in the coming years. The expansion of restaurant chains and fast food outlets are a key component of the sector’s growth. According to the Colombian Chamber of Commerce, there were 32,000 restaurants registered in Bogotá in 2016, the majority of which were fast-food outlets like Subway, Burger King, and McDonald’s. This growth would further increase the demand for frozen dough as the products is widely used in these outlets.
Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:
· Bimbo Latincentro
· PAN PA’ YA
· Rich Products Corporation
· Comapan S.A.
· Productos Ramo S.A.
· Patagonia Bakers
· Dulcipan SA de CV
· H.E. Butt Grocery Company
2017 Market Size –USD 4.3 billion
Compound annual Growth Rate (CAGR)- 4.4%
2024 Forecast Value – USD 5.7 Billion +
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Increased fluctuations in the energy costs could hinder the LATAM frozen bakery market growth during the forecast timeframe. Most of the edible items are perishable and requires preservation for long duration storage. Minimal temperatures reduce biological activity from bacteria and other microorganisms which are responsible for food decaying. Freezing is the only solution for storage of perishable edible products in longer run. As major fuel consumption takes place in freezing, storage, and cryogenic logistical requirements, fluctuations in energy cost would significantly affect the frozen bakery operations.
Key Highlights of this report:
Base Year: 2017
Growth Projections – 2018-2024
Historical data coverage: 2013 to 2017
Number of Pages – 92
Data Tables – 83
Hotels, restaurants, and catering (HORECA) captured close to 20% volume share of end-user base in 2017. Government initiatives to promote Mexico as a tourist destination has also led to an increase in the number of restaurants and hotels in the country. These restaurants sell a variety of bakery products include cakes, pastries, snacks, etc. Thus, developments in the restaurant industry in the country will drive product demand for use in HORECA during the forecast period.
Growth Drivers of LATAM Frozen Bakery Market:
The expansion of restaurant chains and fast food outlets are a key component of the sector’s growth.
LATAM Frozen Bakery Market Segmentation:
· Savory snacks
· Fully baked
· Convenience stores
· Hypermarkets & supermarkets
· Artisans bakers
· Hotels, restaurants, and catering (HORECA)
· Bakery chains
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Based on country, Colombia will show the positive growth with more than 6% CAGR in forecast period. Advancement in different retail channels across the country will be crucial factor behind the frozen bakery market growth in Colombia. The increasing number of restaurants and hotels in the country has also led to sharp increase in the consumption of bakery products such as pastries, cakes, etc. These trends will propel the Colombia frozen bakery market by 2024.
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.
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U.S. Frozen Bakery Market Size By Recipe (Bread, Viennoiserie, Patisserie, Savory Snacks), By Product (Ready To Prove, Ready To Bake, Fully Baked), By End-user (Convenience Stores, Hypermarkets & Supermarkets, Artisan Bakers, HORECA, Bakery Chains) Industry Analysis Report, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024