Study: Latin American frozen bakery market worth over $5.7B by 2024
In terms of volume, the bread segment will account for more than 63% of the overall LATAM frozen bakery market by 2024.
The Latin American (LATAM) frozen bakery market will surpass $5.7 billion by 2025, according to a new research report by Global Market Insights, Inc., Shelbyville, Del.
Rising economic growth resulting in an expansion of disposable income of the Colombian population has resulted in a vast increase in modern retail space across the country. This would further augment the demand for frozen bakery products in the coming years. The expansion of restaurant chains and fast food outlets are a key component of the sector’s growth. According to the Colombian Chamber of Commerce, there were 32,000 restaurants registered in Bogotá in 2016, the majority of which were fast food outlets. This growth would further increase the demand for frozen dough.