South America Food Flavor Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Food Flavor Market Analysis
South America's food flavor market is expected to record a CAGR of 6.8% during the forecast period 2020-2025.
- The rising demand for convenience and ready-to-eat meals, health, and wellness foods, accompanied by technological advancements, are expected to boost the growth of the flavor market in South America.
- Low labor cost in the region is also expected to encourage companies towards the establishment of new ventures, thereby augmenting the growth of the flavor market.
- Ease of widespread distribution channels in the South American food flavor market is strengthening the position of companies and offering huge scope for investments in innovative technologies, for the development of enhanced flavors.
South America Food Flavor Market Trends
This section covers the major market trends shaping the South America Food Flavor Market according to our research experts:
Rising Demand for Natural Ingredients
A significant number of consumers have gained interest in purchasing clean label goods, which offer a wide scope for naturally sourced ingredients, hence, propelling the demand for natural food flavors. In order to address the increasing demand for natural flavors, manufacturers are offering products free from artificial flavorings and gradually shifting toward natural ingredients. Continuing interest in foods with exotic or ethnic flavors is one of the key factors driving the demand for natural flavor blends. In recent years, artificial flavorings, such as benzophenone, ethyl acrylate, pyridine, and styrene, are identified as carcinogens, and thus, are being replaced by natural flavorings across the global market.
Rising Demand For RTE Food Products
Owing to the fast-paced lifestyle of the generation, consumers are increasingly inclining towards convenience food products, including instant soups, sauces, noodles, baked goods, and other ready meals, owing to their instant nature i.e. lesser preparation time and easy handling. However, despite the need to rely on comfort foods, consumers are reluctant to compromise on flavor. Younger age groups in precise, are the primary consumer base constantly willing to discover varied culinary traditions, in the interest of their taste buds. Moreover, RTE products, such as instant noodles, ice creams, and soups, are few of the most vulnerable food cuisines to be experimented based on flavors.
South America Food Flavor Industry Overview
The food flavor market in South America is competitive. Kerry Group, Cargill Inc., and BASF are the major players present in the market. Major companies are adopting strategies, such as introducing clean label and organic flavor ranges and acquiring and partnering with local players to increase market penetration in the untapped markets.
South America Food Flavor Market Leaders
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Koninklijke DSM NV
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Kerry Group PLC
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BASF SE
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Givaudan
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Firmenich SA
*Disclaimer: Major Players sorted in no particular order
South America Food Flavor Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Type
- 5.1.1 Natural Flavor
- 5.1.2 Synthetic Flavor
- 5.1.3 Nature Identical Flavoring
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5.2 By Application
- 5.2.1 Dairy
- 5.2.2 Bakery
- 5.2.3 Confectionery
- 5.2.4 Snack
- 5.2.5 Beverage
- 5.2.6 Other Applications
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5.3 Geography
- 5.3.1 Brazil
- 5.3.2 Argentina
- 5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Koninklijke DSM NV
- 6.4.2 Kerry Group PLC
- 6.4.3 BASF SE
- 6.4.4 Archer Daniels Midland (ADM)
- 6.4.5 Givaudan
- 6.4.6 Firmenich SA
- 6.4.7 Corbion NV
- 6.4.8 Sensient Technologies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Food Flavor Industry Segmentation
The South American food flavor market is segmented by type, application, and geograhy. On the basis of type, the market is segmented into natural flavor, synthetic flavor, and nature identical flavoring. On the basis of application, the market is segmented into dairy, bakery, confectionery, snack and beverage, and other applications.
| By Type | Natural Flavor |
| Synthetic Flavor | |
| Nature Identical Flavoring | |
| By Application | Dairy |
| Bakery | |
| Confectionery | |
| Snack | |
| Beverage | |
| Other Applications | |
| Geography | Brazil |
| Argentina | |
| Rest of South America |
South America Food Flavor Market Research FAQs
What is the current South America Food Flavor Market size?
The South America Food Flavor Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in South America Food Flavor Market?
Koninklijke DSM NV, Kerry Group PLC, BASF SE, Givaudan and Firmenich SA are the major companies operating in the South America Food Flavor Market.
What years does this South America Food Flavor Market cover?
The report covers the South America Food Flavor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Food Flavor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Food Flavor Industry Report
Statistics for the 2024 South America Food Flavor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Food Flavor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
