Sales of the Bakery & Cereals market in Brazil will grow rapidly during 2007-17, driven by increased demand from middle-class consumers in the country, says a report by Canadean Food.
According to the report 'Market Focus: Trends and Developments in the Bakery & Cereals SectorinBrazil', middle income groups, which currently account for 52% of the country's population, increased in number by 35% between 2002 and 2011.
Hypermarkets & Supermarkets, followed by Food & Drinks Specialists, account for the majority of packaged Bakery & Cereal sales in the Latin American country, with 60.4% and 78.4%, respectively.
Meanwhile, the value of Bread & Rolls is projected to post a CAGR of 10.6% between 2007 and 2017, due to higher per capita consumption.
Growth in the Cakes, Pastries & Sweet Pies category will be overshadowed by the Bread & Rolls category. It will lose market share during the period.
Sales of Baking Ingredients are expected to grow at a CAGR of 6.1% during the period, while that of the Baking Mixes category will be 5.9%.
Click here for more details of the report.
