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Latin America Food Flavors Market By Type (Chocolate, Vanilla, Fruits & Nuts), By Origin (Natural, Synthetic), By Application (Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others) And By Country (Brazil, Mexico, Argentina, Chile and Rest of Latin America) – Size, Share, Trends, Growth, Forecast (2022 to 2027)

Published: January, 2022
ID: 1193
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Food Flavors Market Growth and Forecast (2022 - 2027):

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.

Market Overview:

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.

Drivers and Restraints:

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 Food Flavors Market Segmentation Analysis:

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.

Region Analysis:

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

  • Kerry Group
  • Givaudan
  • Firmenich
  • Sensient Technologies Corporation
  • Symrise AG
  • Frutarom Industries
  • Archer Daniels Midland Company
  • DohlerGroup
  • AGRANA Group
  • SVZ International B.V
  • SunOpta, Inc

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