04-18-2019 05:42 PM CET - Advertising, Media Consulting, Marketing Research
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Unveiling trends of LATAM Frozen Bakery Market with Industry Report | Bimbo Latincentro, Europastry, Rich Products Corporation, Comapan S.A., Productos Ramo S.A.

Press release from: Global Market Insights, Inc.
LATAM Frozen Bakery Market
LATAM Frozen Bakery Market
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.

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Driven by the substantial expansion opportunities in the region across the food retail sphere, the LATAM frozen bakery market is primed to witness extensive growth over 2018-2024. The industry is also said to be powered by the ongoing expansion of several restaurant chains as well as fast food outlets across nations such as Mexico and Colombia – some of the most visited vacation destinations across Latin America, in an effort to capitalize on the influx of vacationers, which is rapidly growing on a yearly basis.

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.

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.

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Advancement in different retail channels across the Colombia 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.

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.

Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:

• Bimbo Latincentro
• Europastry
• PAN PA' YA
• Rich Products Corporation
• Comapan S.A.
• Productos Ramo S.A.
• Patagonia Bakers
• Dulcipan SA de CV

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.
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