Market Trends of South America Food Additives Industry
This section covers the major market trends shaping the South America Food Additives Market according to our research experts:
Rising Demand for Natural Food Flavor & Enhancers in the Region
Latin American countries, such as Argentina and Brazil, are taking action in the battle against obesity with several nations enacting policies designed to curb the consumption of artificial flavors, that add up unnecessary calories in the diet. The flavors, such as Martinique Rum Soaked Pineapple, Guatemalan Coffee Pure Arabica, Dulce de Leche Argentinian Recipe, Brazilian Orange Sorbet, and Spices, which have a high preference in South American countries, especially in Brazil, are also exported to European countries, like the United Kingdom. The companies are replacing their artificial ingredient with an extension in the natural ingredient category with an essence of natural flavorings, acceptable ingredients, like fruit and natural sweeteners in the food and beverage category. For instance, in 2014, Givaudan launched a peanuts collection, which was driven by industry demand for new directions in peanut flavors.
Brazil to Hold the Major Share in the Regional Market
Owing to the large population base with a potential consumer market, Brazil remains a lucrative market for food additives in the South American region. Moreover, the country is experiencing significant development in terms of new product launches and innovations. Major companies are strategizing business expansion in order to increase market penetration and are investing to supplement the production facility in the country. Furthermore, observing an increased inclination of the Brazilian population more towards natural ingredients, the major companies in the market are investing capital in sourcing tools and technologies to upgrade their products to a much reliable and likable category. The companies across the market in Brazil are following clean label consumer-driven initiatives and are investing capital in sponsoring awareness programs and seminars targeting the population to build a sense of reliability on their products, which are expected to decide the fate of companies in the food additives market in the forecast period.
