Latin America Flavours Market Report and Forecast 2024-2032

Latin America Flavours Market Report and Forecast 2024-2032


Market Outlook

According to the report by Expert Market Research (EMR), the Latin America flavours market is projected to grow at a CAGR of 7.8% between 2024 and 2032. Aided by the region's rich culinary traditions and evolving consumer preferences, the market is expected to grow significantly by 2032.

Flavours, essential components in food and beverage production, range from natural extracts to artificial additives. They are used to enhance the taste and aroma of products, playing a crucial role in consumer satisfaction and product differentiation. In Latin America, the diversity of flavours reflects the region's rich cultural heritage and agricultural bounty, with a wide array of fruits, spices, and herbs contributing to unique taste profiles.

The Latin America flavours market growth is propelled by several factors. Firstly, there's an increasing demand for processed and convenience foods due to urbanisation and changing lifestyles. As consumers seek quick and easy meal solutions, the need for flavourful food products that can replicate home-cooked tastes is rising. Secondly, the region's burgeoning beverage industry, particularly in soft drinks, alcoholic beverages, and specialty coffees, is fuelling the demand for diverse and innovative flavours.

Additionally, health consciousness among consumers is leading to a preference for natural and organic flavours. There's a growing trend towards clean-label products, free from artificial additives and preservatives. This shift has prompted flavour manufacturers to invest in natural flavour extraction technologies and the development of organic flavouring agents.

Another significant driver of the Latin America flavours market demand is the rising popularity of ethnic and exotic flavours, both within Latin America and globally. The internationalisation of Latin American cuisine, characterised by its bold and spicy flavours, has opened new avenues for flavour exports. Traditional flavours like acai, guava, and jalapeño are finding their way into global food and beverage products, broadening the market scope for Latin American flavours.

According to the Latin America flavours market analysis, companies are increasingly focusing on sustainability practices in sourcing and production. Ethical sourcing of raw materials, reducing carbon footprint, and implementing eco-friendly manufacturing processes are becoming priorities for flavour manufacturers, aligning with global sustainability trends.

Market Segmentation

The market can be divided based on flavouring agent, form, application, and country.

Market Breakup by Flavouring Agent
  • Nature Identical Flavouring Substance
  • Artificial Flavouring Substance
  • Natural Flavours
Market Breakup by Form
  • Liquid
  • Dry
Market Breakup 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 mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America flavours market. Some of the major 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


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 Latin America
7 Opportunities and Challenges in the Market
8 Latin America Flavours Market Overview
8.1 Key Industry Highlights
8.2 Latin America Flavours Historical Market (2018-2023)
8.3 Latin America Flavours Market Forecast (2024-2032)
8.4 Latin America Flavours Market by Flavouring Agent
8.4.1 Nature Identical Flavouring Substance
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Artificial Flavouring Substance
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Natural Flavours
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Latin America Flavours Market by Form
8.5.1 Liquid
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Dry
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Latin America Flavours Market by Application
8.6.1 Beverage
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Bakery and Confectionary Products
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Dairy and Frozen Desserts
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Savouries and Snacks
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Latin America Flavours Market by Country
8.7.1 Brazil
8.7.2 Mexico
8.7.3 Argentina
8.7.4 Peru
8.7.5 Others
9 Regional Analysis
9.1 Brazil
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Mexico
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Argentina
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Peru
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
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 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Givaudan SA
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 International Flavors & Fragrances Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Bell Flavors & Fragrances, Inc.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Kerry Group
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Tulip Aromatics de México SA de CV
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Quimtia
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Key Trends and Developments in the Market
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
List of Key Figures and Tables
1. Latin America Flavours Market: Key Industry Highlights, 2018 and 2032
2. Latin America Flavours Historical Market: Breakup by Flavouring Agent (USD Million), 2018-2023
3. Latin America Flavours Market Forecast: Breakup by Flavouring Agent (USD Million), 2024-2032
4. Latin America Flavours Historical Market: Breakup by Form (USD Million), 2018-2023
5. Latin America Flavours Market Forecast: Breakup by Form (USD Million), 2024-2032
6. Latin America Flavours Historical Market: Breakup by Application (USD Million), 2018-2023
7. Latin America Flavours Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Latin America Flavours Historical Market: Breakup by Country (USD Million), 2018-2023
9. Latin America Flavours Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Latin America Flavours Market Structure

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