Food Processing in Brazil Market Players Analysis

Products and Services

This report details the top 10 key players in the food processing industry in Brazil based on available 2023 and 2024 data, outlining their main products and services and evaluating available information on the growth or decline in their volumes and revenues.

JBS: A global leader in food processing, JBS has a diversified portfolio, particularly strong in animal protein. Key brands in Brazil include Friboi (beef), Seara (poultry and pork, and processed foods), and Swift. JBS operates across five continents with a focus on commercial execution and value-added products. The company reported record net revenue and improved EBITDA in 2023 and Q2 2024. JBS Brasil (beef) had R$ 14.9 billion in net revenue in Q4 2023. Seara's net revenue was R$ 10.5 billion in Q4 2023. In Q2 2024, 75% of JBS's EBITDA came from poultry and pork operations (Pilgrim's, Seara, JBS USA Pork). JBS's consolidated net revenue reached R$ 363.82 - 364 billion in 2023 and R$ 417 billion in 2024, a 15% growth. Seara's net revenue saw a slight decrease of 0.6% in 2023 compared to 2022, despite higher volumes sold. In 2024, Seara's net revenue increased by 15% to R$ 47 billion compared to 2023, driven by higher prices and volumes in both domestic and international markets. Seara's in natura poultry and pork categories combined showed approximately 20% growth in volume in Q4 2024 and for the full year 2024. Processed foods revenue for Seara increased by 11% in Q4 2024 and 3% in 2024, driven by higher volumes sold. JBS Brasil's beef business had one of its best results in Q3 2024, amid strong export demand with a 20% increase in the volume of fresh beef shipped in the period.

Marfrig Global Foods: One of the largest beef producers globally, Marfrig also controls BRF since 2022. Over 70% of its revenue historically comes from North American operations. Marfrig's consolidated net revenue was R$ 136.49 billion in 2023. In Q2 2024, Marfrig's consolidated net revenue increased by 16.5% to R$ 34.7 billion compared to Q2 2023. South American operations saw a 31% increase in sales volume in Q2 2024. BRF contributed 43% of Marfrig's total net revenue in Q2 2024. In Q3 2024, Marfrig's consolidated revenue increased by 12.4% to BRL 37.7 billion year-over-year. Sales volume in South America increased by 22% in Q3 2024, while North America saw a 4.9% decrease in volume.

Cargill: A major global player in agriculture, food, financial, and industrial products and services, Cargill has a significant presence in food processing in Brazil. They are involved in the processing of oilseeds and grains and producing food ingredients like starches, sweeteners, chocolates, fats, texture agents and polyoils, among others, as well as consumer products such as refined and compound oils, salad dressings, mayonnaise, tomato sauces and extracts. Cargill's net operating income in Brazil was R$ 126.4 billion in 2023, a record high, as a result of sales of 51 million tonnes, almost 25% higher than in 2022, primarily comprising soybeans and corn. For 2024, Cargill in Brazil had a net loss of R$ 1.7 billion ($298.83 million), mainly due to exchange rate effects, according to company disclosures. In 2023, Cargill had a record profit of 2.5 billion reais in Brazil. Cargill expects to handle higher volumes of grains and other products in Brazil in 2025, expecting the total volume originated, processed and sold to equal or exceed the marks of 51 million tons recorded in 2023. This compares to 45 million tons in 2024.

Bunge Alimentos: A leading global agribusiness and food company with a strong presence in processing oilseeds and grains and producing food ingredients. Bunge is involved in the processing of soybeans and other grains. They also produce refined and specialty oils, milling products (wheat flours, bakery mixes, and corn-based products), and have a 50% interest in a joint venture producing sugar and ethanol in Brazil. Bunge's net sales were R$ 81.7 billion in 2023. In 2024, net sales in the agribusiness segment decreased nearly 10% to $38.6 billion from $42.76 billion in fiscal 2023, while volumes increased to 80.628 million tonnes from 76.019 million tonnes. Net sales in the Refined and Specialty Oils unit decreased 13% to $12.77 billion from $14.6 billion in fiscal 2023. Milling net sales decreased 18%, falling to $1.56 billion from $1.9 billion, but volumes increased to 3.703 million tonnes from 3.391 million tonnes in fiscal 2023.

Ambev: A Brazilian brewing company, one of the largest in the world, also with significant operations in the food and beverage sector beyond just beer. Operates in Foods and Beverages sector with a wide portfolio of beverages and some food products. Their total revenue was R$ 79.74 billion in 2023. Specific details on the volume and revenue growth of their food processing products for 2023-2024 were not available in the provided data.

BRF: A major Brazilian food company, resulting from the merger of Perdigão and Sadia, focusing on poultry, pork, and processed foods. Key brands include Sadia, Perdigão, and Qualy. BRF's net revenue was R$ 53.62 billion in 2023. BRF grew in 2024 and posted a record net revenue of R$ 61.4 billion, 14% up on the previous year. The record results for 2024 were driven by the increase in volumes sold, especially in the processed products portfolio. In Brazil, BRF's revenues amounted to R$ 28.8 billion in 2024, an increase of 7.4% compared to 2023, with significant volume growth in the region, with processed foods standing out. In the international market, BRF recorded revenue of R$ 28.2 billion in 2024, an increase of 15.6% compared to 2023. BRF also operates in the pet food industry, with revenue of US$578.00 million in 2024.

Grupo Amaggi: A large Brazilian agribusiness company with activities in grain production, trading, logistics, and processing. Primarily known for soy and grains, but includes food processing activities within its operations. Operates in Foods and Beverages sector. Their total revenue was R$ 44.87 billion in 2023. Specific volume and revenue data for their food processing segment for 2023-2024 were not available in the provided data.

Louis Dreyfus Company Brasil: A global merchant and processor of agricultural goods. Involved in processing of oilseeds and grains and is expanding into downstream and value-added products like not-from-concentrate fruit juices. LDC's revenue reached $50.6 billion in 2023, down from $59.9 billion in 2022, with volumes also 3.5% lower. In the first half of 2024, net revenue of $25.6 billion was slightly below the $25.8 billion recorded in the first half of 2023. Despite challenges, LDC managed to increase its transported volumes by 19.4% compared to the same period in 2023. For the full year 2024, LDC reported net sales amounting to US$50.6 billion, unchanged from 2023, and volumes increased by 17.4% year-on-year.

Coamo Agroindustrial: One of the largest agricultural cooperatives in Latin America, involved in processing grains and other agricultural products. Operates as a cooperative, processing members' agricultural production and is involved in various food processing activities derived from grains, soybeans, and corn. Their revenue was R$ 28 - 28.22 billion in 2023. Specific details on the volume and revenue of their food processing products for 2023-2024 were not available in the provided data.

Aurora Alimentos: A major Brazilian cooperative involved in the production and processing of poultry, pork, and dairy. Operates as a cooperative and is a significant player in the animal protein sector, exporting products to over 80 countries. Aurora's gross operating revenue was R$ 21.7 billion in 2023. During 2023, Aurora Coop obtained 65.5% of its revenues on the domestic market (R$ 14.6 billion) and, on the foreign market, 34.5% (R$ 7.5 billion). The largest volume of production (63.7%) was absorbed by the domestic market, which corresponds to 1.045 million tons. 36.3% of the volumes produced were directed to the international market, that is, 678.5 thousand tons. In the first half of 2021, Aurora Alimentos exported 291,500 tons of meat and meat products, 18% more than in the same period in 2020. Revenue from shipments grew 23%, to US$ 667.8 million. Poultry was responsible for 55% of the total volume exported and for 40% of total revenue, while pork was responsible for 45% of exports and 60% of the foreign sales revenue in H1 2021. In 2021, Aurora intended to invest BRL 500 million to expand its chicken processing capacity by as much as 20% over the next two years.

Comparative Table Showing Revenue and Available Volume Data (2023-2024)

Company	2023 Revenue (R$)	2024 Revenue (R$)	Revenue Growth/Decline (2024 vs 2023)	Key Products/Segments with Volume/Revenue Change Details (2023-2024)
JBS	363.82 - 364 billion	417 billion	Growth (15%)	Seara: +15% revenue in 2024; approx. +20% volume (in natura poultry/pork) in Q4 2024 and 2024; +11% revenue (processed foods) in Q4 2024, +3% in 2024. JBS Brasil (Beef): +20% fresh beef volume in Q3 2024.
Marfrig Global Foods	136.49 billion	-	Growth (Consolidated Q2 2024: +16.5%; Q3 2024: +12.4%)	South America Operations: +31% volume in Q2 2024; +22% volume in Q3 2024.
Cargill	126.4 billion	-	Decline (Net Loss in Brazil in 2024 vs. Record Profit in 2023)	Total Volume (Brazil): 51 million tons in 2023 (+~25% from 2022); 45 million tons in 2024. Expects to equal or exceed 51 million tons in 2025. Primarily soybeans and corn.
Bunge Alimentos	81.7 billion	-	Decline (Agribusiness Net Sales -10% in 2024)	Agribusiness Volumes: +6% in 2024 (80.628 million tonnes vs 76.019 million tonnes in 2023). Refined and Specialty Oils Net Sales: -13% in 2024. Milling Net Sales: -18% in 2024; Volumes: +2.5% in 2024 (3.703 million tonnes vs 3.391 million tonnes in 2023).
Ambev	79.74 billion	-	-	Specific food processing volume/revenue growth not available.
BRF	53.62 billion	61.4 billion	Growth (14%)	Total Volumes: Increased in 2024, especially processed products. Brazil Segment Revenue: +7.4% in 2024, significant volume growth in processed foods. International Segment Revenue: +15.6% in 2024. Pet Food Revenue: US$578.00 million in 2024.
Grupo Amaggi	44.87 billion	-	-	Specific food processing volume/revenue growth not available.
Louis Dreyfus Company Brasil	-	-	Stable Revenue (2024 vs 2023), Volume Growth (+17.4% in 2024)	Total Volumes: +19.4% in H1 2024; +17.4% in 2024. Primarily agricultural goods, oilseeds, grains, and juices.
Coamo Agroindustrial	28 - 28.22 billion	-	-	Specific food processing volume/revenue growth not available. Involved in processing grains, soybeans, and corn.
Aurora Alimentos	21.7 billion	-	-	Volumes (2023): Domestic market 1.045 million tons; International market 678.5 thousand tons. Exports (H1 2021): +18% volume, +23% revenue. Products: Poultry, pork, and dairy.

Note: Revenue figures are primarily based on full-year 2023 and 2024 data where available. Some companies report in USD, and conversions were not consistently provided in the sources. Volume and specific product revenue growth/decline data for 2023-2024 was not uniformly available for all listed companies in the provided data.

References

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