Latin America Frozen Food Market Size & Outlook, 2023-2030
Latin America frozen food market, 2018-2030 (US$M)
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Latin America frozen food market highlights
- The Latin America frozen food market generated a revenue of USD 33,096.3 million in 2023.
- The market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, frozen desserts was the largest revenue generating product in 2023.
- Fruits & Vegetables is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 33,096.3 million |
| Market revenue in 2030 | USD 43,456.2 million |
| Growth rate | 4% (CAGR from 2023 to 2030) |
| Largest segment | Frozen desserts |
| Fastest growing segment | Fruits & Vegetables |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fruits & Vegetables, Potatoes, Ready Meals, Meat, Fish/Seafood, Frozen Desserts, Bakery Products |
| Key market players worldwide | Nestle SA, Unilever PLC ADR, General Mills Inc, Nomad Foods Ltd, Tyson Foods Inc Class A, Conagra Brands Inc, Wawona Frozen Foods, Bellisio Foods, Kellogg's, Kraft Foods Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.9% of the global frozen food market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 189,245.3 million by 2030.
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Frozen Food Market Scope
Frozen Food Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America frozen food market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to frozen food market will help companies and investors design strategic landscapes.
Frozen desserts was the largest segment with a revenue share of 23.15% in 2023. Horizon Databook has segmented the Latin America frozen food market based on fruits & vegetables, potatoes, ready meals, meat, fish/seafood, frozen desserts, bakery products covering the revenue growth of each sub-segment from 2018 to 2030.
In April 2021, Frizata, an Argentine food tech company, expanded its frozen flexitarian meals delivery platform to Santiago de Chile, marking its first venture outside of Argentina. Frizata specializes in producing, selling, and delivering healthier frozen meal options directly to customers' homes. The company aims to streamline daily food decisions by offering a range of nutritious and convenient meal choices.
The company operates in five cities throughout Argentina, providing customers with a diverse selection of meal options, including vegan alternatives. Moreover, the penetration of modern retail channels, such as supermarkets, hypermarkets, and convenience stores, has been steadily growing across South America.
These retail formats offer a wide variety of frozen food products, providing consumers with greater accessibility and choice. Furthermore, the expansion of cold storage facilities across Brazil, Argentina, Chile, and other countries offers new opportunities for market growth.
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Target buyers of Latin America frozen food market databook
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Our clientele includes a mix of frozen food market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America frozen food market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America frozen food market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America frozen food market size, by country, 2018-2030 (US$M)
Latin America Frozen Food Market Outlook Share, 2023 & 2030 (US$M)
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