South America Food Inclusions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chocolates, Fruit and Nuts, Flavored Sugar and Caramels, and Others), by Form (Solid and Semi- Solid), and Application (Dairy and Frozen Desserts, Baker

South America Food Inclusions Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Chocolates, Fruit and Nuts, Flavored Sugar and Caramels, and Others), by Form (Solid and Semi- Solid), and Application (Dairy and Frozen Desserts, Bakery Products, Breakfast Cereals, Chocolate and Confectionery Products, and Others)

The food inclusions market in South America is expected to grow from US$ 1,212.30 million in 2021 to US$ 1,796.50 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.

It is crucial for the food & beverages industry players to differentiate their products from products offered by other players, along with adding value to their existing product line, to sustain market competition. Food & beverage manufacturers identify food inclusions as timesaving and economical way of bringing innovations in their existing products, as while using these ingredients they can skip the step of formulating an entirely new product recipe. Food inclusions are used as mix-ins in the existing product recipe to achieve an altered texture, color, aroma, or flavor. Food inclusions are widely being used in baked food, ice cream, yogurts, and others for attaining product differentiation. Further, various dried fruits, nuts, exotic fruits, and chocolate chips are added in the ice cream products to enhance their value and differentiate the products from their counterparts. Consumers, nowadays, prefer opting for unique, differentiating, and enhanced food products. Seasonal variants or limited-edition food products are being launched to attract a wider customer base. Food manufacturers use stand out colors, shaped inclusions, and indulgent inclusions in their products during Halloween and Easter to achieve product differentiation and stand out differently in the market. In April 2021, Marks and Spencer plc. issued a legal complaint against its supermarket rival, Aldi Stores Limited, on the grounds of copyright infringement. Marks and Spencer plc. sued Aldi Stores Limited on the claim that the latter’s Cuthbert the Caterpillar cake was similar to the former’s Colin the Caterpillar cake. Additionally, other supermarket chains such as Tesco, Sainsbury’s, ASDA, Morrison’s. Waitrose and Co-op also offer similar caterpillar cakes in terms of shape, base color, and size. However, the only factor differentiating their cakes are the food inclusions used in them. Thus, food inclusions are widely being used to add value and differentiate products from competitors, which is catalyzing the market growth.

Brazil has the highest number of COVID-19 cases, followed by Argentina, Colombia, Peru and Chile. South America's government has taken an array of actions to protect its citizens and contain COVID-19's spread. It is anticipated that South America will face lower export revenues, both from the dropping commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several South American countries have reduced economic activity in the food & beverages industry for at least the next quarter, with a rebound once the epidemic is contained.

The food inclusions market is segmented based on type, form, and application. Based on application, the market is segmented into dairy and frozen desserts, bakery products, breakfast cereals, chocolate and confectionery products, and others. The breakfast cereals is expected to be the fastest growing segment during the forecast period. Breakfast cereals are processed grains, typically corn, wheat, rice, and/or oats, with added vitamins and minerals, enhanced with flavors. The rising demand for breakfast cereals with healthy ingredients such as heritage grains, seeds, dried fruits, nuts, and legumes contributes to the full cereal package. Rising health-consciousness among consumers and increasing preference for ready-to-eat food are triggering the demand for food inclusions in this segment.

The South America food inclusions market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the South America food inclusions market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the South America food inclusion market. ADM; AGRANA Beteiligungs-AG; Puratos; Barry Callebaut; Cargill, Incorporated; Kerry Group; Georgia Nut Company; Taura Natural Ingredients Ltd.; and Sensient Technologies are among the leading companies in the market.

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