Colombia Food Ingredient Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Colombia food ingredient market is forecasted to reach USD 1.3 billion by 2025 growing at a CAGR of 6.09% during the forecast period.

Key Highlights

• The market is directly proportional to the growing demand for animal feed market and animal nutrition.
• Obtained from livestock producers, owing to the rising awareness about food quality and safety, along with the growing emphasis on the importance of quality meat and animal by-products by population.
• The thriving poultry industry in the country is not only increasing its production capacity, but also serving exports to countries such as China, Vietnam, and Thailand, thus, adding an impetus to the market.

Key Market Trends

Emerging Of Processed Foods Market in Colombia

Colombia is an emerging economy with a rapidly growing processed food industry. The Colombian processed food industry is expected to project a double-digit growth rate. As per the Colombian statistical data, the Colombian consumer spent almost USD 337 worth of processed food per capita per year. Consumption at this scale is significantly supported by the growth in the Colombian household disposable income. Therefore, the food ingredient market is also witnessing growth along with the processed food market. As the food industry in the developed regions is mature enough, food manufacturers are forced to explore some other market with better growth potential. In this scenario, South America and Asia-Pacific are the most preferred market.

Increase in Import and Export Trade of Enulsifiers

Colombia has a major production of emulsifiers based on palm oil, glycerin and castor oil or castor oil. There is an abundance of raw materials required, given to the existence of government policies for the production of biodiesel for blending with petrochemical diesel. The technology of production of emulsifiers, which will dominate the Colombian market in the future, will be the one that uses enzymatic catalysis. Aceitalis SA and Aceites y Grasas Vegetales S.A. are some of the major producers of emulsifiers in Colombia, mainly dealing in lecithin, which has a significant market in the country. Mono-, Di-Glycerides & Derivatives are the dominant emulsifier in Colombia, followed by lecithin and polyglycerol poliricinoleate. The emulsifiers, which are classified in the others category are mainly stearoyl lactylates, alkoxylated fatty esters, ethoxylated fatty acids, ethoxylated glyceryl esters, ethoxylated sorbital esters.

Competitive Landscape

Colombia, followed by Brazil and Venezuela, are the largest consumer of the United States’ food and agricultural products, in South America. Leading global players in Colombia have a focus on investing in infrastructure to establish manufacturing sites for food additives. Many companies from Europe, Mexico and Canada have strong ties with local distributors and traders which help them in selling their products to local sellers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support