South & Central America Frozen Waffles Market Forecast to 2030 - Regional Analysis - by Type (Flavored and Unflavored/Plain), Category (Gluten-Free and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

The South & Central America frozen waffles market is expected to grow from US$ 118.18 million in 2023 to US$ 163.76 million by 2030. It is estimated to grow at a CAGR of 4.8% from 2023 to 2030.

Surging demand for frozen and convenience food worldwide and rising trend of in-home consumption fuel South & Central America frozen waffles market

The COVID-19 pandemic influenced the consumption habits of consumers. Due to lockdowns and work-from-home mandates, people stayed home, prompting in-home consumption. Moreover, due to the closure of food service outlets such as cafes, restaurants, and fast-food outlets, the demand for ready-to-cook products, instant meals, and frozen food products increased significantly.

The COVID-19 pandemic significantly raised hygiene concerns among consumers, leading to changes in consumer buying behavior. Consumers increasingly prefer hygienically packaged food and beverages to prevent themselves from various infections and food-borne diseases. Although the number of COVID-19 cases has decreased significantly and the government restrictions are relaxed, many people are still concerned about hygiene conditions at foodservice outlets. Therefore, many people prefer in-home consumption over food service consumption. This factor positively impacts the sales of frozen breakfast products such as waffles and pancakes as they are highly suitable for in-home consumption. Frozen waffles are increasing in popularity among consumers as they are quick, easy to prepare, and conveniently consumed at home. Thus, the rising trend of in-home consumption, especially post-COVID-19 outbreak, is significantly boosting the demand for frozen waffles.

Market Overview

The frozen waffles market in South and Central America comprises Brazil, Argentina, and the Rest of South and Central America. The shift in consumer lifestyle and dietary patterns significantly boost the frozen waffles market growth in South and Central America, especially in Brazil. A large consumer base in Brazil prefers frozen waffles for morning breakfast as it contains healthy ingredients such as wheat flour. These factors mentioned above drive the growth of the frozen waffles market in the region.

South & Central America Frozen Waffles Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Frozen Waffles Market Segmentation

The South & Central America frozen waffles market is segmented into type, category, and distribution channel, and country.

Based on type, the South & Central America frozen waffles market is segmented into flavored and unflavored/plain. The flavored segment held a larger share of the South & Central America frozen waffle market in 2023.

Based on end category, the South & Central America frozen waffles market is segmented into gluten-free and conventional. The conventional segment held the largest share of the South & Central America frozen waffles market in 2023.

Based on distribution channel, the South & Central America frozen waffles market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held the largest share of the South & Central America frozen waffles market in 2023.

Based on country, the South & Central America frozen waffles market is segmented into the Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America frozen waffles market in 2023.

AVIETA S.A., Dr Schar AG, Dely Wafels srl, and Kellogg's Company are some of the leading companies operating in the South & Central America frozen waffles market.