In Latin America, majority of population 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 and 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 making healthy and nutritious foods and the fear about the diseases that can be caused by unhealthy foods has diverted their focus towards frozen foods.
According to the report “Latin-America Frozen Food Market Research Report, 2027” published by Actual Market Research, the region is at the developing stage in the frozen food adaption rate, the market is anticipated to grow with more than 5% of CAGR by 2027. 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 schedules, 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. In the market of Latin America, Brazil is leading the market share. Apart from that, Argentina has recorded the fastest growth and has all the expectation to continue the same trend during the forecast period.
The marketers are stretching their distribution channels from supermarkets, hypermarkets, and other offline to online stores, which make it easier for targeted customers to purchase. 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.