The people's consumption patterns and preferences are changing with time and lifestyle. As the working population of Lain America is increasing, the people are now looking for a quick substitute for a menu that takes time and effort in making. In the region, the increase in women workforce, young individuals who migrated alone for academic or professional reasons are some of the reasons that directly or indirectly increased the consumption of frozen foods. The awareness about the importance of in taking healthy and nutritious foods and the fear about the diseases that can be caused by unhealthy foods have diverted their focus towards frozen foods.
According to the report “Latin-America Frozen Food Market, By Value, By Segment (Potato, Fruit & Vegetable, Ready Meal, Meat & Poultry, Seafood/Fish), By Country (Brazil, Argentina, Chile, Colombia, Etc.), By End User (Commercial, Residential), By Sales Channel (Supermarket, Individual Retailers, Online), Market Outlook, 2025” published by Bonafide Research, the frozen food market have grown with a CAGR rate of more than 5% till the year 2019. The demand for frozen foods has increased in the past few years and it is going to increase in the future as an increase in urbanization, less time due to hectic work schedule and purchasing power. The frozen market of Latin America is segmented into the categories of frozen potatoes, frozen vegetables & fruits, frozen ready meals, frozen meat & poultry, and frozen fish & seafood segments. Out of these, frozen potato products and frozen meat & poultry products are in a leading growth percentage, while the others are also having good revenue share.
The marketers are stretching their distribution channels from supermarkets and hypermarkets to other offline and online stores, which makes it easier for the targeted customers to purchase.
In the market of Latin America, Brazil is leading the market share. Apart from that, Argentina has recorded the fastest growing and has all the expectation to continue the same trend with forecasted growth of above 7% till 2025. The major company which is leading the market of frozen food which continuously satisfying the customer’s needs are General Mills, Kraft Heinz Company, Nestle SA, JBS SA, Kerry Groups and there are more which are present into the market and helps to grow.