Brazil Food Flavor And Enhancer Market - Growth, Trends And Forecast (2020 - 2025)
Brazil Food Flavor And Enhancer market is projected to grow at a CAGR 3.05%, during the forecast period (2020 - 2025).
- The synthetic flavor holds a major share in the market closely followed by natural flavors. In general, the key factor influencing the decision to consume functional food in the country are flavors, quality, price, convenience, and expected health effects. Functional foods in the country are fulfilling the consumer’s desire for convenience and flavor, which is expected to drive the food flavor and enhancer market in the country over the forecast period.
- There is a rising demand for fat replacers and sweeteners in the Brazilian weight control sector. This is providing an opportunity for the major manufacturers in the country to incorporate new flavors in their products, in order to affect the consumers’ decision to buy, based on their taste preferences
Key Market Trends
Growing Market For Natural Food Additives in The Country
The increasing consumer interest in nutritionally enriched products and all natural foods is promoting the demand for high-value premium and natural additives. The flavored products and alternative sweeteners remain the largest product types in the segment. The changing lifestyles of people in Brazil also impact their food habits. Natural herbs and spices were earlier used in domestic cooking to add flavors to the food, which is turning out to be an industrial need at present to cater to the big food processors in the local market. Legislatory organizations in the country are constantly making efforts to ensure the circulation of value-based and clean-label products in the country, which is acting as a driver for the food flavor and enhancer market in the country, compelling it to maintain the transparency between the consumers and final tailored products.
Synthetic Flavor Holds a Major Share in the Market
The market is dominated by synthetic food flavor followed by natural flavor and nature identical flavors. Volume of the market for synthetic flavors is quiet higher compared to natural flavors. Although, natural flavors are priced in the higher end, therefore there is little difference between the values of both segments. Consumers with predominant convenience and processed food diet are at greater risk of consuming synthetic flavorings. Synthetic flavors have ill health impacts, if taken for long term. Therefore, regulatory bodies play a key role in making the use of synthetic flavors safe for consuming. A plethora of artificial flavors are available in the market, such as almond flavor, amaretto flavor, apple cinnamon flavor, apple flavor, apple pie type flavor, apricot flavor, artificial amaretto, etc.
Kerry group and Givaudan are the most active companies in terms of mergers and acquisitions. The mergers and acquisitions are widely being used as a strategy by these players in order to collaborate their expertise with other market players for a more transparent understanding of consumers desire and deliver the best to the consumers.
Key players: Givaudan, Firmenich, Corbion, Archer Daniels Midland Company, Kerry Group, BASF, International Fragrance and Flavors, Inc., Sensient Technologies.
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