South America Pasta and Noodles Market Size

South America Pasta & Noodles Market Analysis

The South American pasta and noodles market is projected to register a CAGR of 3% during the forecast period.

The COVID-19 pandemic significantly affected the market. This was because consumers were locked in their homes, due to which the consumption of ready-to-eat products drastically increased. Pasta's extended shelf life made it a popular choice for consumers looking to stockpile when stay-at-home orders lingered longer than a few weeks. According to the annual report of Barilla America Inc., America's largest producer of spaghetti/macaroni/pasta, sales accounted for USD 644 million in 2020, up 3.2% from 2019.

With the rising work culture, consumers are moving toward foods that can be consumed with convenience and require lesser time to prepare. For instance, in Argentina, the total labor force accounted for 20.9 million in 2021, while in 2020, it was 19.2 million. The urbanized population, due to their hectic schedules and higher discretionary spending, drives the market for pasta and noodles. The availability, accessibility, affordability, and flexibility associated with the consumption of pasta and noodles further drive the market's growth.

Packet noodles are the most common type of noodles that are consumed worldwide. It comes with reasonable pricing and is easy to prepare. Further, packet noodles are convenient to carry and are cheaper when purchased in high volumes. This makes its purchase profitable for users like cafes, canteens, families, and others. Also, these noodles are preferred during gatherings, birthdays, and other occasions. Thus, the demand for noodles is rising and driving the market.