Latin America Food Flavors Market has been estimated at USD 1.24 Million in 2021 and is projected to reach USD 1.55 Million by 2026, at a CAGR of 4.53% during the forecast period from 2021 to 2026.
Food Flavors are commonly used to improve the taste of food products. Food flavors are made of three components taste, smell, and color. They are an essential part of the food processing industry to maintain and enhance the taste of a product. Food flavors can be made either out of natural products like fruits, vegetables, and animal products or out of a mixture of edible chemicals which are of synthetic origin.
The market for food flavors in Latin America is mainly driven due to effective and safe natural flavors that are actively in demand. Also, consumer perception regarding the benefits of natural additives has generated interest among the researchers, about their development and use in processed foods, which is also owing to the growing demand for food flavors. But, the market growth can be hampered due to high cost involved in the preparation of natural flavors and adverse health effects of synthetic flavors.
Latin America market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments. Growth for dairy and frozen product flavors due to high demand of meat flavor products.
Geographically the Latin America Food Flavors Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Growing interest of small-scale industries in market expansion by developing facilities and technical service centers in various regions provide opportunities for market growth in the untapped regions of Latin America.
Key Players in the Market:
Major Key Players in the Latin America Food Flavors Market are
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 Chocolate
5.1.2 Vanilla
5.1.3 Fruits & Nuts
5.2 By Origin
5.2.1 Natural
5.2.2 synthetic
5.3 By Application
5.3.1 Beverages
5.3.2 Savory & Snacks
5.3.3 Bakery & Confectionery
5.3.4 Dairy & Frozen Products
5.3.5 Others
6. Geographical Analysis
6.1 Introduction
6.2 Brazil
6.3 Mexico
6.4 Rest of Latin America
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Kerry Group
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Givaudan
8.3 Archer Daniels Midland Company
8.4 DohlerGroup
8.5 AGRANA Group
8.6 SVZ International B.V.
8.7 SunOpta, Inc.
8.8 Sensient Technologies Corporation
8.9 Symrise AG
8.10 Frutarom Industries
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Apr 2021
