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Colombia Food Ingredient Market is segmented by Type (Functional Food Ingredient, Starch and Texturants, Sweetener, Flavors, Acidulants, Preservative, Emulsifier, Color, Enzyme, Culture, Proteins, Oil and Yeast) and Application (Beverages, Sauces, Dressings, and Condiments, Bakery, Dairy, Confectionery, Dried Processed Food, Frozen/Chilled Processed Food, Sweet and Savory Snacks and Other Applications).
The Colombia food ingredient market is forecasted to reach USD 1.3 billion by 2025 growing at a CAGR of 6.09% during the forecast period.
The studied market of Colombia food ingredient is available as functional food ingredient, starch and texturants, sweetener, flavors, acidulants, preservative, emulsifier, color, enzyme, culture, proteins, oil and yeast. By application, the market is segmented as beverages, sauces, dressings, and condiments, bakery, dairy, confectionery, dried processed food, frozen/chilled processed food, sweet and savory snacks and other applications.
|Starch and Texturants|
|Sauces, Dressings, and Condiments|
|Dried Processed Food|
|Frozen/Chilled Processed Food|
|Sweet and Savory Snacks|
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Colombia is an emerging economy with a rapidly growing processed food industry. The Colombian processed food industry is expected to project a double-digit growth rate. As per the Colombian statistical data, the Colombian consumer spent almost USD 337 worth of processed food per capita per year. Consumption at this scale is significantly supported by the growth in the Colombian household disposable income. Therefore, the food ingredient market is also witnessing growth along with the processed food market. As the food industry in the developed regions is mature enough, food manufacturers are forced to explore some other market with better growth potential. In this scenario, South America and Asia-Pacific are the most preferred market.
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Colombia has a major production of emulsifiers based on palm oil, glycerin and castor oil or castor oil. There is an abundance of raw materials required, given to the existence of government policies for the production of biodiesel for blending with petrochemical diesel. The technology of production of emulsifiers, which will dominate the Colombian market in the future, will be the one that uses enzymatic catalysis. Aceitalis SA and Aceites y Grasas Vegetales S.A. are some of the major producers of emulsifiers in Colombia, mainly dealing in lecithin, which has a significant market in the country. Mono-, Di-Glycerides & Derivatives are the dominant emulsifier in Colombia, followed by lecithin and polyglycerol poliricinoleate. The emulsifiers, which are classified in the others category are mainly stearoyl lactylates, alkoxylated fatty esters, ethoxylated fatty acids, ethoxylated glyceryl esters, ethoxylated sorbital esters.
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Colombia, followed by Brazil and Venezuela, are the largest consumer of the United States’ food and agricultural products, in South America. Leading global players in Colombia have a focus on investing in infrastructure to establish manufacturing sites for food additives. Many companies from Europe, Mexico and Canada have strong ties with local distributors and traders which help them in selling their products to local sellers.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters 5 Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Starch and Texturants
5.2 By Application
5.2.2 Sauces, Dressings, and Condiments
5.2.6 Dried Processed Food
5.2.7 Frozen/Chilled Processed Food
5.2.8 Sweet and Savory Snacks
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
6.4.1 Cargill Incorporated
6.4.3 Ingredion Incorporated
6.4.4 Archer Daniels Midland Company
6.4.6 Firmenich SA
6.4.7 BASF SE
6.4.8 Associated British Foods PLC
7. MARKET OPPORTUNITIES AND FUTURE TRENDS