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South America Food Flavor and Enhancer Market is segmented By Type (Flavors (Natural Flavors, Synthetic Flavors and Nature Identical Flavors) and Flavor Enhancers), By Application (Bakery, Confectionery, Dairy, Beverages, Processed Food and Others) and By Geography
South America Food Flavor and Enhancer Market is projected to grow at a CAGR of 6.8% during the forecast period.
South America Food Flavor and Enhancer Market is segmented by type that includes flavors and flavor enhancers. The flavor section is further segmented into natural flavors, synthetic flavors, and nature-identical flavors. Based on Application, the market is segmented into bakery, confectionery, dairy, beverages, processed food, and others. The study also involves an analysis of regions such as Brazil, Argentina and Rest of South America.
|Rest of South America|
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In Brazil, with the growing acceptance of frozen and processed food, the flavor manufacturers have many opportunities to extend their brands and strengthen connections with the Brazilian consumers. The low cost of labor in the region is also expected to encourage the companies in making investments. This factor is augmenting the growth of the flavors market. Many companies in Brazil, like Frutarom-IFF are focusing on natural products and building market leadership in herbal extracts. The companies are working toward developing and expanding their portfolios of natural products, owing to the consumers’ demands. The regulations pertaining to the food flavors in South American region are not that strict for the local companies. This factor has provided a competitive edge to the local manufacturers over the international companies.
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With the increasing health awareness, most of the population thoroughly check the label of a product before buying it. This awareness among consumers has prompted manufacturers to undertake the replacement of synthetic flavors with natural flavors. There has been a growing consumer demand for processed food and the expectations for safer and healthier ingredients have, in turn, increased the need for introduction of clean-label ingredients across diverse applications. An interest in the development of new natural flavor substances has been observed, for their use in the food industry, which is due to the strong consumer demand for more natural products. The health enhancing properties of natural flavors, combined with the organic properties in natural products, are also increasing their adoption.
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South America Food Flavor and Enhancer Market is consolidated with the major players holding the maximum share in the market. The key strategies adopted by the companies are new product innovation, mergers and acquisitions, partnerships and expansion. The major players are Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc. among others.
1.1 Study Assumptions & Market Definition
1.2 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 Porter's Five 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
220.127.116.11 Natural Flavors
18.104.22.168 Synthetic Flavors
22.214.171.124 Nature Identical Flavors
5.1.2 Flavor Enhancers
5.2 By Application
5.2.5 Processed Food
5.3.1 South America
5.3.4 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.3 Kerry Group
6.4.4 International Flavors and Fragrances Inc.
6.4.5 Symrise AG
6.4.6 Corbion NV
6.4.7 Archer Daniels Midland Company
6.4.8 Takasago International Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS