Empresas Carozzi S.A., Grupo Bimbo, Arcor Group, and Barry Callebaut AG, among others, are the major players in the Latin America bakery products market.
The Latin America bakery products market is supported by the growth of Brazil retail confectionary, which attained USD 7.8 billion in 2020. The market is expected to grow at a CAGR of 1.5% in the forecast period of 2022-2027.
Baking is the oldest cooking method used to make everyday products like bread, cakes, pastries, pies, cookies, and doughnuts. Different ingredients such as water, rice, and leavening agents are used to make these products depending on the grain.
Sales of bakery products are predicted to rise in Latin America's bakery product industry in the future years, owing to an increased preference for ethnic foods, differences in taste, texture, and flavour of bakery items, health awareness, and rising demand for breakfast grains and cereals. Retailers can meet the increased demand for bakery products in Latin America by providing organic baked goods, healthy breakfast items, and 'free-from' brands, along with maintaining customer loyalty thereby aiding in market expansion.
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The market is divided into bread and rolls, biscuits, cakes and pastries, and rusks, among others based on the product type. Cookies, cream biscuits, glucose biscuits, Marie biscuits, milk biscuits, non-salt cracker biscuits, and salt cracker biscuits are among the various kinds of biscuits. Bread and rolls, cakes and pastries, and rusks are all categorised into artisanal bakeries, in-store bakeries, and packaged bakeries, depending on their kind. The market is segmented into convenience stores, independent retailers, supermarkets and hypermarkets, special stores, and online, among others based on the distribution channel. The major regional markets of the product in Latin America are Brazil, Argentina, and Mexico.
The Latin American bakery product industry experienced a decline in 2020 due to the global coronavirus pandemic, particularly in the initial period. The market began to pick up speed by the end of 2020, owing to the government measures that ensured continued supply of sufficient, healthy, and nutritious food by ensuring the daily operation of local, regional, and national wholesale markets and providing technical and financial assistance to small and medium-sized agro-industrial farmers.
Over the forecast period, such activities would help to enhance the demand for bakery products in Latin America. In addition, the internet retailing segment is gaining traction since it assures a timely and regular supply of fresh and hygienic food basics during lockdown by adhering to the government's social distancing norms to prevent the transmission of the coronavirus.
Headquarter: Santiago, Chile
Empresas Carozzi S.A. is a food manufacturing company. Pasta, sauces, beverages, grains, fruit, juices, desserts, pastries, cereals, and confectionery foods are among the company's branded items. Carozzi is one of Latin America's most well-known mass-consumption companies, having been in business for more than 119 years.
Grupo Bimbo is the world's largest bakery, employing over 1,34,000 people in 33 countries. People at Grupo Bimbo are dedicated to working in a sustainable manner for a better society and economic progress across four continents. Grupo Bimbo is also reducing its environmental footprint by investing in technology and innovation. Production, distribution, and sale of a variety of bakery items, such as bread, rolls, cookies, biscuits, cakes, candies, chocolates, snacks, and tortillas, as well as processed food, are the company's core activities.
Headquarter: Arroyito, Argentina
Arcor was founded in 1951 in Arroyito, Córdoba (Argentina) with the goal of creating high-quality food at a reasonable price for customers all over the world. Building an effective distribution mechanism that can be duplicated across the region, vertical integration of strategic inputs in Argentina, and the extension of its significant brand equity and the establishment of socially responsible management, in all of its operations, Arcor strives to add economic, social, and environmental value.
Headquarter: Zurich, Switzerland
The Barry Callebaut Group employs more than 12,000 people worldwide and has more than 60 production facilities throughout the world. The Barry Callebaut Group provides chocolate to the whole food industry, from industrial food manufacturers to artisanal and professional chocolate users like chocolatiers, pastry chefs, bakers, hotels, restaurants, and caterers.
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