Food additives are used in the food processing industry, for specific purposes such as getting different colour, taste, texture, preservation, and aroma.
MORE PROCESSED FOODS = INCREASED FOOD INGREDIENTS DEMAND
As per the national statistical data, Colombian consumers spent almost USD 337 annually on processed food per capita. International entrepreneurs, especially food manufacturers, are exploring opportunities to develop the Colombian food ingredient market. Along with food manufacturing, the market has a great potential as a various food ingredient trade platform in the global market. Moreover, it has a specific geographical position ingredient production, as well as Free Trade Agreements (FTA) with the United States, Brazil, Mexico, Canada, Liechtenstein, and Switzerland; further, assisting foreign food companies to enter market competitiveness, by accessing tariff preferences of Colombia.
FUNCTIONAL FOOD INGREDIENT DRIVING THE MARKET
The Columbian food ingredients market consists of preservatives, sweeteners, emulsifiers, anti-caking agents, enzymes, hydrocolloids, food flavors & enhancers, food colorants, speciality ingredients, functional food ingredients, nutraceuticals & dietary supplements, coffee, acidulants, fruits, juices, honey, chocolates, meat & poultry, protein, and tea.
The Columbian functional food products market is accelerating at a great pace, owing to the several health benefits possessed by the products.
The rising health concerns, regarding the usage of synthetic ingredients in food, are alarming the food product manufacturers. The growing demand of speciality & functional food ingredient has boosted the market growth. Moreover, expanding processed food sector and rising health awareness, among consumers, are the major driving factors of the market; however, the fluctuating Columbian economic condition is a restraint, as it is affecting the food ingredients’ prices. In Colombia, natural food ingredients accounts for one-third of the total food & beverage ingredients market. Natural and organic products are driving the market growth, owing to their various health benefits, environment friendly and sustainable production.
LARGER INTERNATIONAL TRADE SUPPORT
The Columbian government is in a pact of Free Trade Agreements (FTAs) with many countries, worldwide, for food products’ and ingredients’ export. The countries associated with this pact include Mexico, Canada, Chile, the European Union, Switzerland, Venezuela, Japan, China, Turkey, Panama, Costa Rica, and Israel. Moreover, the Pacific Alliance was formed to promote regional trade in South America, which includes Mexico, Chile, Peru, and Colombia. These countries are the major suppliers of food ingredient in for the Colombian food market. Such tariff agreements are the key drivers for food ingredient trade in South America and the global market. Moreover, these supports and alliances are boosting the food ingredient market in Colombia.
NOTABLE MARKET DEVELOPMENTS
Cargill acquired, Colombian-based, Pollos El Bucanero S.A, to expand its protein business.
Cargill Inc, is anticipated to invest around USD 300 million to USD 500 million in the Columbian food processing sector.
Our Global Food Ingredient Market Report Covers:
Market trends & dynamics
Latest News & developments
Porter’s five force analysis
1.1 KEY DELIVERABLES OF THE STUD
1.2 STUDY ASSUMPTIONS
1.3 MARKET DEFINITION
2. RESEARCH METHODOLOGY
3. MARKET OVERVIEW
3.1 OVERVIEW OF FOOD INGREDIENTS IN COLOMBIA
3.2 OVERVIEW OF FOOD INGREDIENTS IMPORTED FROM U.S.
3.3 PORTER’S FIVE FORCES FRAMEWORK
3.3.1 THREAT OF NEW ENTRANTS
3.3.2 THREAT OF SUBSTITUTE PRODUCTS OR SERVICES
3.3.3 BARGAINING POWER OF CUSTOMERS (BUYERS)
3.3.4 BARGAINING POWER OF SUPPLIERS
3.3.5 INTENSITY OF COMPETITIVE RIVALRY
4. MARKET DYNAMICS
4.1.1 EMERGING OF PROCESSED FOODS MARKET IN COLOMBIA
4.1.2 SUPPORT OF DEMOGRAPHIC CHANGE IN COLOMBIA
4.1.3 LARGER INTERNATIONAL TRADE SUPPORT
4.2.1 FOOD SAFETY ISSUES
4.2.2 TRADE IRREGULARITIES
4.3.1 INCREASING ‘NATURAL’ INGREDIENTS
4.3.2 NEW EXOTIC FOOD INGREDIENT DEMAND
5. COLOMBIA FOOD INGREDIENTS MARKET SEGMENTATION
5.1 BY TYPE
5.1.2 CHOCOLATE, COCOA (ONLY AS INGREDIENT)
5.1.3 COFFEE (ONLY AS INGREDIENT)
5.1.4 FOOD COLORANT
5.1.6 DIETARY SUPPLEMENTS
5.1.9 FATS & OILS
5.1.11 FRUIT (RAW, PROCESSED, DEHYDRATED OR FROZEN)
5.1.17 NUTS AND NUT PASTES
5.1.18 OATS AND OAT PRODUCTS
5.1.24 SUGAR OR SWEETENER
5.1.25 SUNFLOWER AND PRODUCTS
5.1.26 TEA (INGREDIENT)
5.1.27 FUNCTIONAL FOOD INGREDIENTS
5.1.28 SPECIALTY INGREDIENTS AND STARCHES
5.1.29 SUGAR SUBSTITUTE
6. COMPETITOR ANALYSIS
6.1. MARKET SHARES OF LEADING GLOBAL PLAYERS
6.1.2 CHOCOLATE, COCOA (only as ingredient)
6.1.3 COFFEE (only as ingredient)
6.1.6 DIETARY SUPPLEMENT
6.1.9 FATS & OILS
6.1.11 FRUIT (RAW, PROCESSED, DEHYDRATED OR FROZEN)
6.1.17 NUTS AND NUTS PASTE
6.1.18 OATS AND OATS PRODUCTS
6.1.25 SUNFLOWER AND PRODUCTS
6.1.26 TEA INGREDIENTS
6.1.27 FUNCTIONAL FOOD INGREDIENTS
6.1.28 SPECIALITY INGREDIENTS
6.1.29 SUGAR SUBSTITUTES
6.2 STRATEGY ADOPTED BY LEADING GLOBAL PLAYERS
6.3 U.S. MARKET SHARE
6.4 STRATEGY ADOPTED BY THE U.S. PLAYERS
7. POLICIES AND TRADE BARRIERS FOR THE U.S. EXPORTS
8 COMPANY PROFILES
8.1 CARGILL INC.
8.2 DUPONT DANISCO
8.4 CHR HANSEN
8.7 INGREDION INCORPORATED
8.8 ASSOCIATED BRITISH FOODS PLC
8.9 BASF SE
8.10 SENSIENT TECHNOLOGIES
8.11 FIRMENICH SA
9. KEY VENDOR LIST
10. KEY IMPORTERS/EXPORTER LIST
12. RECOMMENDATIONS ON MARKET DEVELOPMENT ACTIVITIES TO CAPITALIZE ON THE OPPORTUNITIES