Latin America Frozen Food Market

Latin America Frozen Food Market Size (2024 to 2032)

The size of the frozen food market in Latin America was worth USD 21.19 billion in 2023. The Latin American market is expected to grow at a CAGR of 5.35% from 2024 to 2032 and be worth USD 33.89 billion by 2032 from USD 22.33 billion in 2024.

The growing health awareness among consumers and the increasing demand for prepared foods across the Latin American region are propelling the Latin American frozen food market. The fundamental classes of frozen foods are confectionery items and frozen processed food sources. A portion of the gatherings that develop in this field is prepared-to-eat foods. By lessening the capacity temperature, the time span of usability can be essentially broadened. Customer assumptions regarding food quality are rising. As the economy develops and the way of life changes, the interest in frozen food holders in Latin America increases, and the market is probably going to develop gainfully during the conjecture time frame. In some rising economies, the consistent change in per capita salary, alongside the nonstop change in dietary patterns, is driving the interest in frozen foods.

Lately, the Latin American market has extended quickly by receiving mechanization innovation in food packaging. In this sense, the reception of computerization in food production and appropriation forms makes it an incredible impetus. The Latin American frozen food market is reinforcing, particularly with the developing affinity of prepared-to-eat foods, particularly in urban spaces. Additionally, outwardly alluring packaging is directly in the market. Latin American frozen food makers are reinforcing their business sectors by presenting advancements in the taste, surface, and kind of frozen foods, which drastically improves market development. Specifically, expanding women's support in the Latin American workforce is an eminent factor in quickening market development.

Be that as it may, late issues with respect to the nearness of pig and horse DNA in processed foods have tested buyer certainty. Therefore, makers are following new patterns in neat marking to extend their client base. Additionally, chilled soup segments require productive administration of the cold chain to dispense with the danger of decay and foodborne sickness, which can impede the growth of the Latin American market.

This research report on the Latin American frozen food market has been segmented and sub-segmented based on the following categories.

Latin America Frozen Food Market By Product

• Frozen Ready Meals
• Meat & Poultry
• Seafood
• Vegetables & Fruits
• Potatoes
• Soup

Latin America Frozen Food Market By User

• Retail
• Foodservice Industry

Based on end-users, the food service segment is anticipated to account for the major share of the Latin American frozen food market in 2023, and the segmental domination is expected to continue during the forecast period owing to the rising number of cafés, bars, lounges, quick-service restaurants, and so on. Depending on the type, the ready-to-eat foods are anticipated to register a noteworthy growth rate throughout the evaluated time. In addition to those, convenience food and prepared dinners are also calculated to record a substantial share of the Latin American frozen food market in the coming years. This is credited to the surge in buyer purchase interests toward convenience foods, which is touted to favor the expansion in the need for frozen items.

Latin America Frozen Food Market By Country

• Brazil
• Mexico
• Argentina
• Chile
• Rest of Latin America

Latin America held a considerable share of the global market in 2023 and is projected to grow at a healthy CAGR during the forecast period. Mexico commanded the imports of the Latin American frozen food market with the development of general stores and hypermarkets in the district. Likewise, a more noteworthy consciousness of online retailers and more prominent item accessibility in the district is required to supplement market development throughout the following six years. Mexico overwhelmed the Latin American frozen food market incomes by virtue of the nearness of general stores and hypermarkets in the district. Further, developing mindfulness regarding the web retail locations, just as expanding item accessibility in the district, is foreseen to supplement the market development throughout the following six years.

KEY MARKET PARTICIPANTS

Companies playing a key role in the Latin American frozen food market include Aryzta AG, General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., JBS S.A., Kellogg’s Company, Nestle S.A. and Flower Foods.

RECENT HAPPENINGS IN THE MARKET

• In April 2016, Waitrose propelled an exceptional private brand with the brand name Waitrose. The lineup included premium frozen prepared dinners.
• Meredith Corporation consented to an organization arrangement with Bellis Foods in 2016 to extend its offer.
• In 2018, subsequent to perceiving the thousand years' inclination for frozen food inclinations and losing contenders, such as Lean Meals, Nestlé expanded production at the processing plant and presented various things in a line, for example, frozen coconut chickpea curry and vegan pizza from a Vegetarian lover.