(Entertainment-NewsWire.com, February 14, 2018 ) According to the report “Latin America Food Flavors Market”, published by Market Data Forecast, the Latin American Market has been estimated at USD 1.28 Billion in 2016 and is projected to reach USD 1.73 Billion by 2021, at a CAGR of 6.30% during the forecast period from 2016 to 2021.
Food Flavours are commonly used to improve the taste of food products. Food flavors are made of three components taste, smell and colour. They are essential part of the food processing industry to maintain and enhance the taste of a product. Food flavors can be made either out of natural products like fruits, vegetables and animal products, or out of a mixture of edible chemicals which are of synthetic origin.
The market for food flavors in Latin America is mainly driven due to effective and safe natural flavors that are actively in demand. Also, consumer perception regarding the benefits of natural additives has generated interest among the researchers, about their development and use in processed foods, which is also owing to the growing demand for food flavors. But, the market growth can be hampered due to high cost involved in the preparation of natural flavors and adverse health effects of synthetic flavors.
Latin America market for Food Flavors is segmented based on type, source and application. By type, the market is further sub-segmented into Chocolate, Vanilla, Fruits & Nuts. By Origin, the market is further sub-segmented into Natural and Synthetic. By Application, the market is further sub-segmented into Beverages, Savory & Snacks, Bakery & Confectionery, Dairy & Frozen Products, Others. Beverage flavor products segment is the largest in terms of revenue, closely followed by bakery & confectionery and savory & snacks flavors segments. Growth for dairy and frozen product flavors due to high demand of meat flavor products.
Food Flavors Market is segmented based on Type, Origin and Application into further sub-segments as follows: By type Chocolate Vanilla Fruits & Nuts By Origin Natural Synthetic By application Beverages Savory & Snacks Bakery & Confectionery Dairy & Frozen Products Others Based on Geography
Kerry Group, Givaudan, Firmenich, Sensient Technologies Corporation, Symrise AG, Frutarom Industries, Archer Daniels Midland Company, DohlerGroup, AGRANA Group, SVZ International B.V. and SunOpta, Inc.are the major players of Latin America Food Flavors market.
The Food Flavors Market study offers the following deliverables: • Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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