Latin America Flavours Market Report and Forecast 2022-2027
Latin America Flavours Market Report and Forecast 2022-2027
Abstract
Latin America Flavours Market Report and Forecast 2022-2027
Market Outlook
According to the report by Expert Market Research (EMR), the Latin America flavours market attained a value of USD 2548 million in 2022. Aided by the growing popularity of various Latin America cuisines and beverages, the market is projected to further grow at a CAGR of 8% between 2022 and 2027 to reach a value of USD 3746.5million by 2027.
Flavours refer to the added substances which are used to enhance the taste and aroma of a solid or liquid. Flavours expand the range of taste and aroma of various foods and beverages and have been used as sensory enhancing components since the ancient times. In the modern era, flavours bring consistency and safety to the consumers. Flavours can be artificial and natural. Natural flavours are derived from natural sources such as plants and animals and are witnessing a significant demand from the food industry. Hence, the thriving food industry across the continent is escalating the Latin America flavours market.
The popularity of Mexican cuisines is leading to a heightened footfall in hotels and restaurants across the country. This increase in footfall is bolstering the demand for flavours to cope with the demand for the cuisines as flavours decrease the preparation time while maintaining the quality and nutritional value of the dish.
Meanwhile, the increasing demand for plant-based flavours in the region is propelling the demand for flavours to mimic the pulpiness of meat and animal fat. Over the forecast period, the anticipated increase in demand for flavours in plant-based alternatives owing to the increasing awareness about preserving biodiversity is further bolstering the Latin America flavours market.
Over the forecast period, the growing trend of preparing restaurant-style Latin American cuisines at home is enhancing the growth opportunities. Additionally, the increasing enthusiasm among the people of the continent to try and experiment with different spices and herbs are likely to accelerate the demand for flavours among the households.
Moreover, the growing research and development activities by the major beverage producing companies in the region are anticipated to boost the popularity of innovative flavoured carbonated drinks, sodas, and alcoholic beverages, among others.
Furthermore, the increasing growth opportunities offered to the online retail industry is likely to be a key trend in the Latin America flavours market. The increasing sale of bakery and confectionery products via the e-commerce platforms are bolstering the demand for flavours in the region.
In terms of countries, Peru and Venezuela are the key countries where the market is anticipated to witness a significant growth in the forecast period. This can be attributed to the diverse cuisines and awareness about variety of flavours such as arepas and ceviche.
Market Segmentation
The market can be divided on the basis of flavouring agents, forms, applications, and countries.
Market Segmentation by Flavouring Agent
•Nature Identical Flavouring Substance
•Artificial Flavouring Substance
•Natural Flavours
Market Bifurcation by Form
•Liquid
•Dry
Market Segmentation by Application
•Beverage
•Bakery and Confectionary Products
•Dairy and Frozen Desserts
•Savouries and Snacks
•Others
Market Breakup by Country
•Brazil
•Mexico
•Argentina
•Peru
•Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the key players in the Latin America flavours market. Some of the major key players explored in the report by Expert Market Research are as follows:
•Givaudan SA
•International Flavors & Fragrances Inc.
•Bell Flavors & Fragrances, Inc.
•Kerry Group
•Tulip Aromatics de México SA de CV
•Quimtia
•Others
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Content
Table of Contents
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Peru
7 Industry Opportunities and Challenges
8 Latin America Flavours Market Overview
8.1 Key Industry Highlights
8.2 Latin America Flavours Historical Market (2017-2021)
8.3 Latin America Flavours Market Forecast (2022-2027)
8.4 Latin America Flavours Market by Flavouring Agent
8.4.1 Nature Identical Flavouring Substance
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Artificial Flavouring Substance
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Natural Flavours
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.5 Latin America Flavours Market by Form
8.5.1 Liquid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Dry
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Latin America Flavours Market by Application
8.6.1 Beverage
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Bakery and Confectionary Products
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Dairy and Frozen Desserts
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Savouries and Snacks
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2017-2021)
8.6.4.3 Forecast Trend (2022-2027)
8.6.5 Others
8.7 Latin America Flavours Market by Country
8.7.1 Market Share
8.7.1.1 Brazil
8.7.1.2 Mexico
8.7.1.3 Argentina
8.7.1.4 Peru
8.7.1.5 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.2 Mexico
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.3 Argentina
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.4 Peru
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Givaudan SA
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 International Flavors & Fragrances Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Bell Flavors & Fragrances, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Kerry Group
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Tulip Aromatics de México SA de CV
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Quimtia
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
Latin America Flavours Market Report and Forecast 2022-2027
Market Outlook
According to the report by Expert Market Research (EMR), the Latin America flavours market attained a value of USD 2548 million in 2022. Aided by the growing popularity of various Latin America cuisines and beverages, the market is projected to further grow at a CAGR of 8% between 2022 and 2027 to reach a value of USD 3746.5million by 2027.
Flavours refer to the added substances which are used to enhance the taste and aroma of a solid or liquid. Flavours expand the range of taste and aroma of various foods and beverages and have been used as sensory enhancing components since the ancient times. In the modern era, flavours bring consistency and safety to the consumers. Flavours can be artificial and natural. Natural flavours are derived from natural sources such as plants and animals and are witnessing a significant demand from the food industry. Hence, the thriving food industry across the continent is escalating the Latin America flavours market.
The popularity of Mexican cuisines is leading to a heightened footfall in hotels and restaurants across the country. This increase in footfall is bolstering the demand for flavours to cope with the demand for the cuisines as flavours decrease the preparation time while maintaining the quality and nutritional value of the dish.
Meanwhile, the increasing demand for plant-based flavours in the region is propelling the demand for flavours to mimic the pulpiness of meat and animal fat. Over the forecast period, the anticipated increase in demand for flavours in plant-based alternatives owing to the increasing awareness about preserving biodiversity is further bolstering the Latin America flavours market.
Over the forecast period, the growing trend of preparing restaurant-style Latin American cuisines at home is enhancing the growth opportunities. Additionally, the increasing enthusiasm among the people of the continent to try and experiment with different spices and herbs are likely to accelerate the demand for flavours among the households.
Moreover, the growing research and development activities by the major beverage producing companies in the region are anticipated to boost the popularity of innovative flavoured carbonated drinks, sodas, and alcoholic beverages, among others.
Furthermore, the increasing growth opportunities offered to the online retail industry is likely to be a key trend in the Latin America flavours market. The increasing sale of bakery and confectionery products via the e-commerce platforms are bolstering the demand for flavours in the region.
In terms of countries, Peru and Venezuela are the key countries where the market is anticipated to witness a significant growth in the forecast period. This can be attributed to the diverse cuisines and awareness about variety of flavours such as arepas and ceviche.
Market Segmentation
The market can be divided on the basis of flavouring agents, forms, applications, and countries.
Market Segmentation by Flavouring Agent
•Nature Identical Flavouring Substance
•Artificial Flavouring Substance
•Natural Flavours
Market Bifurcation by Form
•Liquid
•Dry
Market Segmentation by Application
•Beverage
•Bakery and Confectionary Products
•Dairy and Frozen Desserts
•Savouries and Snacks
•Others
Market Breakup by Country
•Brazil
•Mexico
•Argentina
•Peru
•Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the key players in the Latin America flavours market. Some of the major key players explored in the report by Expert Market Research are as follows:
•Givaudan SA
•International Flavors & Fragrances Inc.
•Bell Flavors & Fragrances, Inc.
•Kerry Group
•Tulip Aromatics de México SA de CV
•Quimtia
•Others
*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Peru
7 Industry Opportunities and Challenges
8 Latin America Flavours Market Overview
8.1 Key Industry Highlights
8.2 Latin America Flavours Historical Market (2017-2021)
8.3 Latin America Flavours Market Forecast (2022-2027)
8.4 Latin America Flavours Market by Flavouring Agent
8.4.1 Nature Identical Flavouring Substance
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 Artificial Flavouring Substance
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 Natural Flavours
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.5 Latin America Flavours Market by Form
8.5.1 Liquid
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Dry
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Latin America Flavours Market by Application
8.6.1 Beverage
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Bakery and Confectionary Products
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Dairy and Frozen Desserts
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Savouries and Snacks
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2017-2021)
8.6.4.3 Forecast Trend (2022-2027)
8.6.5 Others
8.7 Latin America Flavours Market by Country
8.7.1 Market Share
8.7.1.1 Brazil
8.7.1.2 Mexico
8.7.1.3 Argentina
8.7.1.4 Peru
8.7.1.5 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.2 Mexico
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.3 Argentina
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.4 Peru
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Givaudan SA
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 International Flavors & Fragrances Inc.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Bell Flavors & Fragrances, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Kerry Group
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Tulip Aromatics de México SA de CV
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Quimtia
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Others
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
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