South America Frozen Snacks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The South America frozen snacks market is projected to grow, witnessing a CAGR of 7.32% during the forecast period (2020-2025).

Key Highlights

• With a notable rise in the disposable income, growing demand for convenience snack food products, and the wider availability of these products on the retail shelves are the key driving factor of the South America frozen snacks market.
• Furthermore, as the economies of developed countries are booming, more consumers may need the convenience of take-out and delivery options, thereby, demanding the restaurants to keep larger stocks of frozen snack products to facilitate growth in their sales.
• Despite the rising popularity and the market cap of frozen snacks, the growth of the market is hindered by the preference for healthier snack alternatives and low processed food products by health-conscious consumers in the region.

Key Market Trends

Growing Popularity of Frozen Pizza

Factors such as inclination towards pizza as a snack, a rise in the standard of living, and a rapid increase in a number of large retail chains drive the growth of the frozen pizza market in the region. Moreover, with the increasing customer appetite and acceptance, the frozen pizza market has recorded a healthy growth rate, complemented by an increase in selling points and deeper penetration by organized foodservice players serving pizza as a grab-and-go snack, as well as an increase in the available freezers in retail channels creating the space for frozen pizza products across the region.

Furthermore, the market players are innovating their frozen pizza offerings with the twist in the ingredients and flavors to cater to evolving consumed demands country-to-country. For instance, Nestlé announced plans to remove artificial flavors and reduce the level of sodium across 250 frozen pizza and other frozen savory snacks to be distributed across the globe.

Brazil Forms the largest Market in the Region

Being the leading developing nation in the region, Brazil witnessed high potential and a rising buyer's propensity to afford frozen food products to become a highly dominating market for the frozen snacks in the region. The market is dominated by leading meat manufacturers such as BRF S.A., and JBS S.A. engaged in selling frozen meat snacks across the retail markets in the country.

Moreover, the consumer’s expectations of food quality in the country are rising. Thus, there is an increase in the frozen food products packaging market with the consumer appreciation of the product quality. With the growth in the economy and changing lifestyles, there is an increased demand for frozen snack food packaging in Brazil, and the market is expected to grow lucratively during the forecast period.

Competitive Landscape

The South America frozen snacks market is highly dominated by a few key players leading the frozen food industry in the region. Some of the major market players in the region include McCain Foods Ltd., JBS S.A., BRF S.A., Dr.Oetker, Productos del Plata, Inc., and others. These players are enhancing their offerings and optimizing their supply chain operations to gain competitive advantage in the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support