Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 6.8 % |
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Market Overview
The South American food flavor and enhancer market is projected to record a CAGR of 6.8% during the forecast period, 2020-2025.
- There is a rising demand for natural food flavors and consumers are seen avoiding artificial colors and flavors that are incorporated into different food categories, owing to the increasing health hazards that occur in the consumption of synthetic/artificial flavors, which has resulted in an increased demand for natural food flavors.
- Due to rising health concerns, there is a continuous rise in the demand for specialty ingredients, along with natural food flavors in functional and fortified beverages.
- The ease of vastly spread distribution channels in the South American food flavors market is strengthening the position of the companies and offering huge scope for investments in innovative technologies and for the development of enhanced flavors.
Scope of the report
The South American food flavor and enhancer market is segmented by type into flavors and flavor enhancers. The flavors 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 other applications. The study also involves an analysis of regions, such as Brazil, Argentina, and Rest of South America.
| By Type | |||||
| |||||
| Flavor Enhancers |
| By Application | |
| Bakery | |
| Confectionery | |
| Dairy | |
| Beverages | |
| Processed Food | |
| Other Applications |
| Geography | |
| South America | |
| Brazil | |
| Argentina | |
| Rest of South America |
Key Market Trends
Brazil Dominates the Market
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 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 the South American region are not that strict for the local companies. This factor has provided a competitive edge to the local manufacturers over international companies.
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Rising Demand for Clean Label Ingredients
With increasing health awareness, most of the population thoroughly checks 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 the 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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Competitive Landscape
The South American 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, and International Flavors and Fragrances Inc.
Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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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 Flavors
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5.1.1.1 Natural Flavors
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5.1.1.2 Synthetic Flavors
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5.1.1.3 Nature Identical Flavors
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5.1.2 Flavor Enhancers
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5.2 By Application
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5.2.1 Bakery
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5.2.2 Confectionery
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5.2.3 Dairy
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5.2.4 Beverages
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5.2.5 Processed Food
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5.2.6 Other Applications
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5.3 Geography
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5.3.1 South America
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5.3.2 Brazil
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5.3.3 Argentina
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5.3.4 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Givaudan
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6.4.2 Firmenich
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6.4.3 Kerry Group
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6.4.4 International Flavors and Fragrances Inc.
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6.4.5 Symrise AG
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6.4.6 Corbion NV
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6.4.7 Archer Daniels Midland Company
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6.4.8 Takasago International Corporation
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*List Not Exhaustive -
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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 South America Food Flavor and Enhancer market market is studied from 2016 - 2026.
What is the growth rate of South America Food Flavor and Enhancer market?
The South America Food Flavor and Enhancer market is growing at a CAGR of 6.8% over the next 5 years.
Who are the key players in South America Food Flavor and Enhancer market?
Givaudan, Firmenich, Kerry Group, International Flavors and Fragrances Inc., Archer Daniels Midland Company are the major companies operating in South America Food Flavor and Enhancer market.
