Ready-to-Eat Meals - South America

South America

Highlights

Revenue in the Ready-to-Eat Meals market amounts to US$20.98bn in 2024. The market is expected to grow annually by 5.77% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$149bn in 2024).
In relation to total population figures, per person revenues of US$50.78 are generated in 2024.
In the Ready-to-Eat Meals market, volume is expected to amount to 5.86bn kg by 2029. The Ready-to-Eat Meals market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Ready-to-Eat Meals market is expected to amount to 12.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Ready-to-Eat Meals market in South America is experiencing slow growth due to factors such as changing consumer preferences, increasing health consciousness, and the convenience of quick and easy meal solutions. Despite its minimal growth rate, the Convenience Food Market in the region continues to expand due to the rising demand for on-the-go and time-saving food options.

Customer preferences: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in South America is witnessing a rise in demand for plant-based and vegetarian options. This shift is driven by the growing health consciousness among consumers, as well as the increasing number of individuals following vegan and vegetarian diets for ethical and environmental reasons. This trend is further fueled by a rise in the availability and variety of plant-based options in the market, catering to diverse dietary preferences and lifestyles.

Trends in the market: In South America, the Ready-to-Eat Meals Market within the Convenience Food Market is experiencing a surge in demand due to busy lifestyles and the increasing number of working professionals. This has led to a rise in the availability of innovative, healthier, and more convenient options in the market. Additionally, there is a growing trend of incorporating local and traditional flavors in ready-to-eat meals, catering to the diverse palates of consumers in the region. This trend is expected to continue in the future, with a focus on sustainability and natural ingredients, providing opportunities for industry players to tap into a growing market segment.

Local special circumstances: In South America, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is influenced by unique factors such as the diverse cultural preferences for traditional dishes and the growing demand for healthy and organic options. Additionally, regulatory policies, such as food safety regulations and import/export laws, play a significant role in shaping the market. For example, in Brazil, the government has implemented strict regulations on processed foods, leading to a rise in demand for locally produced ready-to-eat meals. Similarly, in Argentina, the market is driven by a growing health-conscious population, resulting in a surge in demand for organic and clean label options.

Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market in South America is also influenced by macroeconomic factors such as changing consumer lifestyles, rising disposable income, and increasing urbanization. With a growing middle class and increasing urbanization, there is a growing demand for convenient and ready-to-eat meal options. Additionally, government initiatives to promote healthy eating and reduce food waste are also driving the market growth. However, economic instability, high inflation rates, and currency fluctuations in some countries in South America may hinder market growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.