Expert Market Research’s new report titled ‘Latin America Bakery Products Market Price, Trends, Growth, Outlook, Report and Forecast 2021-2026’, gives an in-depth analysis of the Latin America Bakery Products Market , assessing the market on the basis of its segments like product type, distribution channel and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Note 1: For an overview of primary and secondary market data (2016-2026), along with business strategies and detailed market segmentation, please click on the sample demand report. The sample report will be delivered to you within 24 hours.
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Key highlights of the report include:
Market Overview (2016-2026)
• Historical market size (2020): USD 7.8 billion (Brazilian retail confectionery market)
• Forecast CAGR (2021-2026): 1.5% (Brazilian retail confectionery market)
Due to factors such as increasing preference for ethnic foods, variations in flavor, texture and taste of baked goods, health consciousness and demand for grains and breakfast cereals, sales of bakery products are expected to increase in the coming years. Additionally, growing demand for bakery items, such as pastries, fruit pies, donuts, and croissants, is expected to fuel the sales of baked goods in the region. Hence, retailers are responding to this demand by introducing organic baked goods, healthier breakfast products, and “free” products to build consumer loyalty, thereby driving the growth of the market.
Industry definition and major segments
Baking, considered the oldest baking method, is used to make items such as bread, cakes, pastries, pies, cookies, and donuts for everyday use. Baked goods are prepared from different ingredients, such as rice, water, and leavening agents depending on the grain, among others.
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By Product Type, the market is split into:
• Bread and rolls
• Cakes and pastries
Cookies are further divided on the basis of type into biscuits, cream biscuits, glucose biscuits, marie biscuits, milk biscuits, salt-free cracker biscuits and savory cracker biscuits, among others. Bread and rolls, cakes and pastries, and rusks are all subdivided, on the basis of type, into artisan bakeries, in-store bakeries, and packaged.
On the basis of distribution channel, the market is split into:
• Supermarkets and Hypermarkets
• Convenience stores
• Independent retailers
• Special stores
• In line
Regional markets for the product include:
The bakery products market in Latin America is expected to grow due to the increasing evolution of the industry. The global coronavirus pandemic hampered the growth of the market during the initial period of 2020; however, due to government measures ensuring the continued availability of adequate, safe and nutritious food during the period by ensuring the regular functioning of local, regional and national wholesale markets and by providing small and medium agro-industrial farmers with technical and financial means with the help, the market began to recover at the end of 2020. These policies should further improve food products, which would contribute to an expanding market in Latin America for bakery products. Based on delivery networks, the online retail segment is achieving dominance as it ensures fast and reliable availability of fresh and hygienic staples during lockdown by adhering to government social distancing guidelines to curb the spread of the coronavirus.
Main market players
Major players in the market are Grupo Bimbo, Empresas Carozzi SA, Barry Callebaut AG, and Arcor Group, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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