South America Food Flavor and Enhancer Market by Types (Food Flavors [Natural Flavor, Synthetic Flavor, and Nature Identical Flavoring] and Flavor Enhancers), Applications (Dairy, Bakery, Confectionery, Savory Snack, Meat, Beverages, Savory Snacks, Soups and Sauces, and Others), and Geography (Latin America, Brazil, Argentina, and Rest of Latin America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 –2028
The South America food flavor and enhancer market size is projected to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising demand for food with health benefits and long shelf life.
Flavors are extra addition that provide food a particular taste or smell, and are made from natural ingredients or created artificially. Flavor enhancers are compounds that are added to a food in order to enhance its own natural flavor, such as monosodium glutamate (MSG), nucleotides (IMP and GMP), and yeast extracts. Some of the examples of flavor enhancers are nuts, fruits, spices, mushrooms, vegetables, and other natural ingredients.
The COVID-19 pandemic led to an unexpected global public health emergency, which in turn, affected all industries. Amidst the COVID-19 period, consumers have become more health conscious, which has changed consumers’ behavior and purchasing patterns.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for healthy ingredients is anticipated to drive the market growth during the forecast period.
- Growing influential trend for new exotic and ethnic flavors is estimated to spur the market growth in the coming years.
- Rising preference for premium-quality products is projected to boost the market growth in the coming years.
- Growing requirement for maintaining the food's nutritive value is anticipated to drive the market growth during the forecast period.
- Increasing premium lines of seasonings and sauces is estimated to spur the market growth in the coming years.
- Rising consumer awareness on health is estimated to restrict the market growth.
- High price of raw material, high entry barriers, and price pressure on manufacturers are projected to hamper the market growth.
- The development of natural flavor enhancers has led to new opportunities in the market.
Scope of the Report
The report on the South America food flavor and enhancer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | South America Food Flavor and Enhancer Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Types (Food Flavors [Natural Flavors, Synthetic Flavors, and Nature Identical Flavoring] and Flavor Enhancers) and Applications (Dairy, Bakery, Confectionery, Savory Snacks, Meat, Beverages, Savory Snacks, Soups and Sauces, and Others) |
| Geographical Scope | Latin America, Brazil, Argentina, and Rest of Latin America |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | Givaudan; Firmenich; Kerry Group; and International Flavors and Fragrances Inc. |
Food Flavor and Enhancer Market Segment Insights
Flavor enhancers segment to hold a significant market share
On the basis of types, the market is divided into food flavors and flavor enhancers. The food flavors segment is further segmented into natural flavors, synthetic flavors, and nature identical flavors. The natural flavors segment is expected to hold a key share of the market in the coming years, as they help to make food taste better and fresher. Moreover, synthetic flavors are artificial flavors that generally cost less to produce than finding natural sources of chemicals. However, the flavor enhancers segment is anticipated to expand at a rapid pace during the forecast period, as they aid in boosting and brightening the flavor of food and drink.
Bakery segment is projected to expand at a considerable CAGR
Based on applications, the market is segregated into dairy, bakery, confectionery, savory snacks, meat, beverages, savory snacks, soups and sauces, and others. The soup and sauces segment is projected to expand at a considerable CAGR during the forecast period. Young generations are purchasing food items due to health benefits. Moreover, increasing vegan trend is propelling the segment growth. On the other hand, the bakery segment is anticipated to expand at a robust rate during the forecast period.
Latin America is estimated to account a major market share
On the basis of regions, the market is classified as Latin America, Brazil, Argentina, and Rest of Latin America. South America is expected to constitute a significant share of the market during the projected period owing to rising demand for processed food products. However, the market in Brazil is anticipated expand at a rapid pace during the forecast period due to growing acceptance of frozen and processed food products in the country.
Segments
Segments Covered in the Report
The South America food flavor and enhancer market has been segmented on the basis of
Types
- Food Flavors
- Natural Flavors
- Synthetic Flavors
- Nature Identical Flavoring
- Flavor Enhancers
- Dairy
- Bakery
- Confectionery
- Savory Snacks
- Meat
- Beverages
- Savory Snacks
- Soups and Sauces
- Others
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Givaudan
- Firmenich
- Kerry Group
- International Flavors and Fragrances Inc.
Competitive Landscape
Key players competing in the South America food flavor and enhancer market includes Givaudan; Firmenich; Kerry Group; and International Flavors and Fragrances Inc.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In 2020, International Flavors & Fragrances Inc. announced merger with DuPont’s Nutrition & Bio-science, which led to the brand name IFF that produces high-value ingredients and solutions for the food & beverage, home & personal care and health & wellness market.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Food Flavor and Enhancer Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Food Flavor and Enhancer Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Food Flavor and Enhancer Market - Supply Chain
4.5. Global Food Flavor and Enhancer Market Forecast
4.5.1. Food Flavor and Enhancer Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Food Flavor and Enhancer Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Food Flavor and Enhancer Market Absolute $ Opportunity
5. Global Food Flavor and Enhancer Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Food Flavor and Enhancer Market Size and Volume Forecast by Applications
5.3.1. Dairy
5.3.2. Bakery
5.3.3. Confectionery
5.3.4. Savory Snacks
5.3.5. Meat
5.3.6. Beverages
5.3.7. Savory Snacks
5.3.8. Soups and Sauces
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Food Flavor and Enhancer Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Food Flavor and Enhancer Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Food Flavor and Enhancer Demand Share Forecast, 2019-2026
7. North America Food Flavor and Enhancer Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Food Flavor and Enhancer Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Food Flavor and Enhancer Market Size and Volume Forecast by Applications
7.4.1. Dairy
7.4.2. Bakery
7.4.3. Confectionery
7.4.4. Savory Snacks
7.4.5. Meat
7.4.6. Beverages
7.4.7. Savory Snacks
7.4.8. Soups and Sauces
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Food Flavor and Enhancer Demand Share Forecast, 2019-2026
8. Latin America Food Flavor and Enhancer Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Food Flavor and Enhancer Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Food Flavor and Enhancer Market Size and Volume Forecast by Applications
8.4.1. Dairy
8.4.2. Bakery
8.4.3. Confectionery
8.4.4. Savory Snacks
8.4.5. Meat
8.4.6. Beverages
8.4.7. Savory Snacks
8.4.8. Soups and Sauces
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Food Flavor and Enhancer Demand Share Forecast, 2019-2026
9. Europe Food Flavor and Enhancer Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Food Flavor and Enhancer Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Food Flavor and Enhancer Market Size and Volume Forecast by Applications
9.4.1. Dairy
9.4.2. Bakery
9.4.3. Confectionery
9.4.4. Savory Snacks
9.4.5. Meat
9.4.6. Beverages
9.4.7. Savory Snacks
9.4.8. Soups and Sauces
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Food Flavor and Enhancer Demand Share Forecast, 2019-2026
10. Asia Pacific Food Flavor and Enhancer Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Food Flavor and Enhancer Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Food Flavor and Enhancer Market Size and Volume Forecast by Applications
10.4.1. Dairy
10.4.2. Bakery
10.4.3. Confectionery
10.4.4. Savory Snacks
10.4.5. Meat
10.4.6. Beverages
10.4.7. Savory Snacks
10.4.8. Soups and Sauces
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Food Flavor and Enhancer Demand Share Forecast, 2019-2026
11. Middle East & Africa Food Flavor and Enhancer Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Food Flavor and Enhancer Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Food Flavor and Enhancer Market Size and Volume Forecast by Applications
11.4.1. Dairy
11.4.2. Bakery
11.4.3. Confectionery
11.4.4. Savory Snacks
11.4.5. Meat
11.4.6. Beverages
11.4.7. Savory Snacks
11.4.8. Soups and Sauces
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Food Flavor and Enhancer Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Food Flavor and Enhancer Market: Market Share Analysis
12.2. Food Flavor and Enhancer Distributors and Customers
12.3. Food Flavor and Enhancer Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Givaudan
12.4.2. Firmenich
12.4.3. Kerry Group
12.4.4. International Flavors and Fragrances Inc.
Segments Covered in the Report
The South America food flavor and enhancer market has been segmented on the basis of
Types
- Food Flavors
- Natural Flavors
- Synthetic Flavors
- Nature Identical Flavoring
- Flavor Enhancers
- Dairy
- Bakery
- Confectionery
- Savory Snacks
- Meat
- Beverages
- Savory Snacks
- Soups and Sauces
- Others
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Givaudan
- Firmenich
- Kerry Group
- International Flavors and Fragrances Inc.
Key players competing in the South America food flavor and enhancer market includes Givaudan; Firmenich; Kerry Group; and International Flavors and Fragrances Inc.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In 2020, International Flavors & Fragrances Inc. announced merger with DuPont’s Nutrition & Bio-science, which led to the brand name IFF that produces high-value ingredients and solutions for the food & beverage, home & personal care and health & wellness market.
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