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

South America RTE Food Market is projected to grow at a CAGR 4.55% during the forecast period 2020-2025.

Key Highlights

• Owing to the busier lifestyles, the population is constantly exploring options to dine out of their houses in a restaurant with a soothing ambiance, which is attributed to the rising popularity of meats and seafood amid the consumers.
• A constantly organizing supply chain in the region has led to an increase and ease of product circulation across the pertaining retail channels, ultimately leading to an increase in the sales of RTE foods across the consumers in the market.

Key Market Trends

Increasing Penetration of Organized Retail Outlets

With the increase in preference for branded products among consumers, the importance of organized retailers carrying organic RTE food has also increased. The rapid penetration of modern retailing stores in developing countries, like Brazil is also contributing to the rapid growth of the market as they are increasingly stocking on different brands of ready meals, thereby, providing accessibility and availability of the products for consumers under a single roof. For instance, in Brazil, the penetration of supermarket chains, such as Brothers Muffato Cia Ltda, that offer ready meals, including frozen foods, such as Mezzanine Lasagna with Chicken Sauce, have enabled consumers to purchase products with ease, which in turn boosting the market in the region.

Brazil holds the Largest Share in the Market Studied

Brazil is one of the major food producers and exporters in the world offers great opportunities for the food producers and food processing industries. These industries produce a wide product range, including ready meals, aiming consumers at all income levels. The consumers of the country are seeking convenient and healthier food products. With the economic recession that hit Brazil in 2014, the country lost its purchasing power and opted for homemade food rather than ready meals consequently hindering the market, which in turn boosting the market studied in the country.

Competitive Landscape

The frozen food market is gaining momentum in the South American RTE Food market. Minor players are also seeking for their share in the RTE food market, owing to increasing demand. Some of the major players in the market studied are JBS, Norac Food, BRF SA, NISSIN FOODS HOLDINGS CO., LTD, Nestlé Brasil Ltda among others.

Additional Benefits:

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