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The packaged tostones market size is projected to increase by USD 87 million, at a CAGR of 2.95% between 2023 and 2028.
The growth of the market in South America is driven by various factors. Increased production of plantains in countries like Brazil, Ecuador, Costa Rica, Mexico, and Colombia contributes significantly, as consumers are becoming more aware of the benefits of plantains and plantain-derived products. Furthermore, changing taste preferences among consumers, who seek a variety of snacking options, boost the demand for packaged tostones. With consumers increasingly prioritizing health, high-protein snacks like tostones, derived from plantains, are gaining popularity. ARA Food Corp. plays a pivotal role in this market, offering packaged tostones through brands such as Natura, Tropical Chips, and Mariquitas Classic. As health consciousness continues to rise, coupled with the appeal of diverse snacking choices, the market in South America is poised for substantial growth during the forecast period.
The market shows an accelerated CAGR during the forecast period.
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In the realm of advanced transport infrastructure security, airports have been at the forefront of integrating innovative technologies to ensure the safety and well-being of air passengers. One such technology is the deployment of robots for internal security forces at various airports worldwide. These robots, such as Airstar and Secom, are equipped with facial recognition systems, sensors, and cameras for active interrogation of suspicious persons and abandoned objects. Airports Authority in Grand Rapids and Kansai Airports have adopted these advanced systems to enhance security measures against conventional explosives, weapons, chemical agents, contraband, and illicit material. OEMs like Stanley Robotics are leading players in this market, providing robust airport baggage systems and passenger guidance solutions. Business expansion plans strategies include the decision-making process to invest in raw materials and health and safety measures for the production of these robots. Key components include pulse rate sensors and boarding pass scanning systems. The integration of these technologies into landside and terminal areas has significantly improved the overall security and efficiency of airport operations for business travel and leisure travel alike. The Frozen Food Market is thriving, propelled by factors such as convenience, longer shelf life, and the demand for quick meal solutions.
The wide availability of plantains in Americas is notably driving the market growth. In the global arena, the market has gained significant traction, particularly in the airport security segment. This segment, which ensures the safety and security of travelers at airports in Grand Rapids, USA, and various international hubs such as Incheon Airport in South Korea, employs advanced systems to prevent potential threats. These systems include Secom Robot and Airstar robot, which utilize facial recognition systems, sensors, and cameras for active interrogation. Conventional explosives, weapons, chemical agents, and contraband pose potential risks to airport security.
To counteract these threats, airports rely on the use of robots and chatbots for testing and airline bookings. These technologies enable security officials to efficiently manage queries and maintain precautions against terrorism. Kansai Airports in Japan and other international airports have implemented these advanced security measures to ensure the safety of travelers. The use of these systems in airport security has become increasingly crucial, as the number of travelers continues to surge. The integration of these technologies not only enhances security but also streamlines airport operations, making the travel customer experience more efficient for passengers. Such factors are expected to drive the market growth during the forecast period.
Growing snacking culture in Americas is an emerging trend shaping market growth. In the rapidly evolving world of modern lifestyles, the demand for quick and portable snacks has significantly increased. Packaged tostones, originating from Latin American and Caribbean cuisines, have gained popularity as a convenient and culturally rich snacking option. The trend is particularly noticeable in urban areas such as Grand Rapids and international airports like Incheon Airport and Kansai Airports. As people lead increasingly busy lives, the need for snacks that can be consumed without elaborate preparation has become essential. Packaged tostones cater to this requirement, offering a distinctive and flavorful snacking experience. Moreover, as consumers broaden their horizons and explore various food cultures, there is a growing interest in packaged tostones. Advanced security systems, including facial recognition systems, sensors, and cameras, are increasingly being implemented at airports to ensure safety and prevent potential threats such as conventional explosives, weapons, chemical agents, and contraband.
In this context, the airport security segment has become a significant market for advanced systems, including robots and chatbots, to streamline processes and enhance security measures. Packaged tostones, with their portable and easily consumable nature, offer a unique solution for travelers looking for a quick and culturally rich snack option while on the go. The integration of advanced systems, such as robots and chatbots, in airport security has further facilitated the convenience and accessibility of packaged tostones, making them an increasingly popular choice for consumers. Such factors are expected to drive the market growth during the forecast period.
Increasing at-home preparation of tostones is a significant challenge hindering market growth. In the Americas, the growing trend of preparing tostones at home poses a significant challenge to the market. The abundance of plantains in the region and the accessibility of various recipes online facilitate this shift towards homemade tostones. This trend, however, does not hinder the advancements in airport security systems. For instance, at Grand Rapids International Airport, Secom Robot and Airstar robot are employed for active interrogation, employing sensors, cameras, and facial recognition systems to detect conventional explosives, weapons, chemical agents, and contraband.
Similarly, Kansai Airports in Japan utilize advanced systems, including robots and chatbots, for airline bookings and queries, ensuring a high level of security and precautions against terrorism. Despite the convenience and cost savings of homemade tostones, the airport security segment remains a critical area of investment and innovation. Such factors are expected to impede the market growth during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Packaged tostones can be distributed through traditional supermarkets and grocery stores. These retail outlets serve as primary locations for consumers to buy a variety of food products, including snacks. Shelf space in these stores allows for visibility and easy access for consumers. Specialty food stores that focus on Latin American or Caribbean products may provide an ideal environment for packaged tostones. Convenience stores, found in urban and suburban areas, are convenient stops for consumers looking for quick snacks.
The offline segment was the largest and was valued at USD 448.59 million in 2018.
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Further, distributing packaged tostones in these locations can tap into impulse purchases and cater to on-the-go consumers. Distribution through warehouse clubs, where consumers can buy products in bulk, is another option. This approach may appeal to families or individuals looking for larger quantities of packaged tostones. Large retail chains such as Amazon and Walmart, with a broad consumer base, can be important distribution channels. These chains may operate nationally or regionally, providing opportunities for widespread availability. Partnering with restaurants, cafes, or foodservice establishments to include packaged tostones on their menus or offer them as takeout items can provide an additional offline distribution channel. Participating in promotional events, food festivals, or conducting in-store sampling sessions can help increase awareness and drive sales. Consumers may be more inclined to try and purchase packaged tostones after experiencing the product firsthand. Thus, these factors will contribute to the growth of the offline segment, which will drive the growth of the market in Americas during the forecast period.
South America is estimated to contribute 53% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In the South American market, spanning from Central America to South America, the packaged tostones sector experiences significant growth. This expansion can be attributed to several influential factors. One such factor is the escalating production of plantains in key countries like Brazil, Ecuador, Costa Rica, Mexico, and Colombia. Consequently, consumers are increasingly aware of the merits of plantains and related products. Another driving force is the evolving taste preferences among consumers. Seeking diverse snacking alternatives, they are propelled to purchase packaged tostones.
Meanwhile, in the realm of airport security, advanced systems are being implemented to ensure internal security. Grand Rapids and Kansai Airports, for instance, employ Secom Robot and Airstar robots for active interrogation of conventional weapons, chemical agents, and contraband. Security officials utilize facial recognition systems, sensors, cameras, and chatbots for airline bookings and queries. Airports Authority and Internal Security Force take stringent precautions against terrorism, testing autonomous systems to fortify security measures. These advancements underscore the significance of the airport security segment in the South American market.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about Key companies, including: ARA Food Corp., Arca Continental SAB de CV, Bermudez Group Ltd., Goya Foods Inc., Grace Foods Canada Inc., Iberia Foods Corp, Iselitas, Lams Foods Inc., Lulu Plantain Chips., Mr. Johns Food Co. Ltd, Munch King, Neillys Foods, Plantain Products Co., Quirch Foods LLC, SANKOFA SNACK FOODS LTD., Suzuki Motor Corp., Uniban, White Toque Inc., XAGRO S.A., and Solula
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business strategies environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research and growth report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is a significant sector within the global food industry. This market caters to the demand for ready-to-consume tostones, a popular dish in Latin American cuisine. The key components of packaged tostones include fried plantains, seasoning, and packaging. The market is driven by several factors. These include the increasing popularity of Latin American cuisine globally, the convenience offered by packaged tostones, and the growing trend of ready-to-eat food products. Additionally, the increasing urbanization and changing consumer preferences towards convenient and authentic ethnic food options are expected to fuel the growth of this market. The production of packaged tostones involves the use of advanced technologies and processes to ensure the highest quality and consistency. The raw materials used, such as plantains, are sourced from various regions, and the seasoning is customized to cater to different consumer preferences. The packaging is designed to maintain the freshness and texture of the tostones. The market is expected to grow at a steady pace in the coming years. The increasing demand for authentic ethnic food options and the convenience offered by packaged tostones are expected to drive this growth. The Food Service Market is driven by diverse factors including evolving consumer preferences, technological advancements, and changing dining habits.
Furthermore, the increasing adoption of modern retail formats and e-commerce platforms is expected to provide new opportunities for players in this market. In conclusion, the market is an exciting and dynamic sector within the global food industry. It caters to the growing demand for convenient and authentic ethnic food options and is driven by several key factors, including the increasing popularity of Latin American cuisine and the trend toward ready-to-eat food products. experiences growth spurred by various factors including the convenience of airport security and cleaning, efficient baggage systems, and client products catering to passenger needs. Entertainment solutions enhance the airport experience while cleaning and testing autonomous solutions ensure hygiene and safety. The integration of smart technologies, automation, and AI-enabled robots streamline operations at airports. Market consolidation is evident with players like LG Electronics Inc. and Vistara offering innovative solutions, while contactless deliveries address concerns regarding safety and convenience. The Packaged Dehydrated Food Market is flourishing due to several factors including convenience, long shelf life, and nutritional value.
Market Scope |
|
Report Coverage |
Details |
Page number |
146 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.95% |
Market Growth 2024-2028 |
USD 87 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.77 |
Regional analysis |
South America and North America |
Performing market contribution |
South America at 53% |
Key countries |
US, Canada, Mexico, Colombia, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ARA Food Corp., Arca Continental SAB de CV, Bermudez Group Ltd., Goya Foods Inc., Grace Foods Canada Inc., Iberia Foods Corp, Iselitas, Lams Foods Inc., Lulu Plantain Chips., Mr. Johns Food Co. Ltd, Munch King, Neillys Foods, Plantain Products Co., Quirch Foods LLC, SANKOFA SNACK FOODS LTD., Suzuki Motor Corp., Uniban, White Toque Inc., XAGRO S.A., and Solula |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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