South & Central America Refrigerated Snacks Market

Market Introduction

South and Central America include countries such as Brazil, Argentina, and the rest of South and Central America. This is another region contributing to the growth of refrigerated snacks in relation to consumption. South and Central America are considered among the fastest-developing convenience food market across the world; however, it is less mature compared to other regions. Countries such as Chile, Panama, Brazil, and Argentina are contributing to the growth of the studied market in the region. The rise in population and continuous developments have positively influenced the growth of the economy of Brazil and Argentina to a large extent. The shift in consumer lifestyle and dietary patterns has been a key boosting factors for the growth of the refrigerated snacks market in the region, especially in Brazil. Additionally, healthy snacking is taken as a vital component of the modern diet. Consumers prefer small meals mainly to fill up and maintain energy and focus throughout the day. The rising potential for refrigerated snacks in the food industry is mainly contributing to the market growth in this region. Growing expenditure on convenience food products is one of the key factors driving the refrigerated snacks market in South America. An increase in the working population in South America is also responsible for propelling the demand for fast food and bakery products manufactured using refrigerated snacks, which leads to the growth of the refrigerated snacks market in South America. Growing industrialization in the food production business and changing food habits of consumers that creates demand for food with specific flavor & texture increases the sale of refrigerated snacks in South America. Social media has a wide impact on consumer buying behavior in Brazil, which further propels the refrigerated snacks market. The rising popularity of various global brands of refrigerated snacks is also contributing to the market growth in South America.

Brazil stated the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina, among others. Governments of these countries have taken an array of actions to protect their citizens and contain COVID-19 spread. Nevertheless, the region is experiencing lower export revenues, both from the drop in commodity prices and reduction in export volumes, primarily due to lowered export performance in China, Europe, and the US. In addition, containment measures in several South American countries have reduced economic activity in the food and beverage industry; however, the industry is likely to rebound once the country manages to control the epidemic

South & Central America Refrigerated Snacks Strategic Insights

Strategic insights for the South & Central America Refrigerated Snacks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Refrigerated Snacks Report Scope

South & Central America Refrigerated Snacks Regional Insights

The geographic scope of the South & Central America Refrigerated Snacks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The refrigerated snacks market in SAM is expected to grow from US$ 4,587.14 million in 2021 to US$ 6,270.32 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Rise in demand for convenience foods, there is a surge in demand for refrigerated snacks attributable to the rise in purchasing power along with growing consumer preference toward healthy and ready-to-eat convenience food items. Further, with the growing food &beverages industry, rise in the working population, and wider product availability through both online and offline retailing, consumers are inclining more toward convenience foods. Refrigerated snacks are readily available in retail outlets or stores and are increasingly being used as a condiment to add taste, texture, and nutrition to the food product in which they are used. Consumers are inclining over fresher and less processed products that are equally healthy and nutritious and can be directly consumed. With the expansion of the distribution network, convenience foods have gained a shelf in the supermarkets & retail outlets. Additionally, the change in working demographics along with busy lifestyles is among the other factors promoting the demand for convenience food items. With the increase in the demand for convenience food items, the need for refrigerated snacks is set to propel. These snacks offered ease of use, easy to carry in a small space and provide nutrients, due to which some people prefer to have it rather than a proper meal.

Key Market Segments

In terms of type, the fruits and vegetables segment accounted for the largest share of the SAM refrigerated snacks market in 2020. In terms of distribution channel, the supermarkets and hypermarkets segment held a larger market share of the refrigerated snacks market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the refrigerated snacks market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Danone S.A.; General Mills Inc.; Hormel Foods Corporation; Mars Incorporated; Mondelez International, Inc.; Nestle S.A; PepsiCo; The Kraft Heinz Company; among others.

Reasons to buy report

• To understand the SAM refrigerated snacks market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM refrigerated snacks market
• Efficiently plan M&A and partnership deals in SAM refrigerated snacks market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM refrigerated snacks market
• Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.

SAMREFRIGERATED SNACKS MARKETSEGMENTATION

SAM Refrigerated Snacks Market – By Type

• Baked Goods and Confectionery
• Fruits and Vegetables
• Yogurt
• Meat Snacks
• Sandwiches and Savory Snacks
• Others

SAM Refrigerated Snacks Market – By

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Store
• Online Retail
• Others

SAM Refrigerated Snacks Market

– By

Country

• Brazil
• Argentina
• Rest of SAM

SAM Refrigerated Snacks Market

-Companies Mentioned

• Danone S.A.
• General Mills Inc.
• Hormel Foods Corporation
• Mars Incorporated
• Mondelez International, Inc.
• Nestle S.A
• PepsiCo
• The Kraft Heinz Company