The Latin America Cereal Ingredients Market has been estimated at USD 70 Million in 2022 and is projected to reach USD 90 Million by 2028, at a CAGR of 4.70% during the forecast period from 2023 to 2028. Cereal ingredients are mainly used in the breakfast cereals.
Cereals are rich source of vitamins, minerals, carbohydrates, fats and protein. They also enhance physical activeness and reduce the risk of obesity. Since the emergence of agriculture, cereals have provided unlimited health benefits to human health acting as a staple food in diet. They are considered to be an ideal breakfast category due to their high nutritional and low calorific value, which is aiding the growth of cereal ingredients market in Latin America.
The factors that are driving the market for cereal ingredients in Latin America are increasing demand for healthier food. Consumers are becoming diet-conscious and are eating healthy breakfast cereals. Also, globalization and the accompanying changing lifestyles have led to convenience food consumption, where cereal products are considered to be the best choice due to its high nutritive value. But, the market growth can be hampered due to high prices of cereal ingredients and cereal products.
Latin America market for Cereal Ingredients is segmented based on type and application. By type, the market is further sub-segmented into Wheat, Rice, Oat, Corn, Barley. By application, the market is further sub-segmented into Hot Breakfast Cereal, Cold Breakfast Cereal.
Geographically the Latin America Cereal Ingredients Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Latin American market is mainly growing due to is increasing in the recent times due to increasing set-up of market leaders in the cereal ingredients segment, and high penetration of market leaders into the untapped regions of Latin America, where there are wide range of opportunities for market growth.
Key Players in the Market:
Major Key Players in the Latin America Cereal Ingredients Market are
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