Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 3.7 % |
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Market Overview
The Argentine food flavor and enhancer market is projected register a CAGR of 3.7% during the forecast period, 2020-2025.
- The market is majorly driven by the distinct taste profiles preferred by the consumers, as a result of the frequent launches of distinct flavors and enhancers by the key players. For instance, Firmenich launched a new line of natural flavor solutions, “Protein Shield Flavors” for the beverage products with high protein content. In addition, consumer inclination toward clean-label and organic products boosts the natural food flavor segment of the market.
Scope of the Report
The Argentine food flavor and enhancer market is segmented by type into the natural flavor, synthetic flavor, nature identical flavoring, and flavor enhancers. Additionally, the market studied is segmented by application into bakery, confectionery, beverages, dairy, processed food, and other applications.
| By Type | |
| Natural Flavor | |
| Synthetic Flavor | |
| Nature Identical Flavoring | |
| Flavor Enhancers |
| By Application | |
| Dairy Products | |
| Bakery | |
| Confectionery | |
| Processed Food | |
| Beverage | |
| Other Applications |
Key Market Trends
Growing Inclination Toward Clean Label Ingredients
The trend of naturally sourced ingredients has been spreading across the South American region, especially in Argentina and Brazil. Food and beverage companies have been largely affected with almost all international and local players forced to remove artificial flavors and additives from their product lines. In parallel, the clean label affected the country's flavor market, wherein producers have responded with high innovation and investments in research and development activities. As consumers are highly skeptical about artificial additives, the rise in consumer's concern on the usage of food additives and preservatives led to the demand growth for transparency and clean labels, thus, hindering the artificial flavor and additive segments of the market.
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Rising Market for Natural Flavors and Enhancers
Natural flavors are substances that are extracted from plants, herbs and spices, fruits, vegetables, or microbial fermentation. The increasing interest in the nutritionally enriched and natural products promoted the demand for natural flavors in the market. Natural herbs and spices were earlier used only in domestic cooking for flavors, which are now used at an industrial level by various players. Additionally, various companies have their own special authentic flavors. Thus, launches of new innovative natural and exotic flavors by the key players are fueling the market growth. Rosemary extracts have a growing demand in the market for its antioxidant property.
Competitive Landscape
The Argentine food flavor and enhancer market is competitive and fragmented in nature, owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies, along with new product development as strategic approaches adopted by the leading companies, to boost their brand presence among consumers. Key players dominating the market include Corbion NV, Givaudan, Firmenich SA, Bell Flavors & Fragrances, GrupoSaporiti SA, and Sensient Technologies Corporation, among others.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Natural Flavor
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5.1.2 Synthetic Flavor
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5.1.3 Nature Identical Flavoring
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5.1.4 Flavor Enhancers
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5.2 By Application
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5.2.1 Dairy Products
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5.2.2 Bakery
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5.2.3 Confectionery
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5.2.4 Processed Food
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5.2.5 Beverage
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5.2.6 Other Applications
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Corbion NV
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6.3.2 Givaudan
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6.3.3 Firmenich SA
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6.3.4 Bell Flavors & Fragrances
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6.3.5 GrupoSaporiti SA
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6.3.6 Sensient Technologies Corporation
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6.3.7 Fritzsche Saica
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6.3.8 Symrise
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Argentina Food Flavor and Enhancer market market is studied from 2016 - 2026.
What is the growth rate of Argentina Food Flavor and Enhancer market?
The Argentina Food Flavor and Enhancer market is growing at a CAGR of 3.7% over the next 5 years.
Who are the key players in Argentina Food Flavor and Enhancer market?
Corbion N.V., Givaudan, Firmenich SA, Bell Flavors & Fragrances, GrupoSaporiti S.A., Sensient Technologies Corporation are the major companies operating in Argentina Food Flavor and Enhancer market.
