Argentina Food Flavor and Enhancer Market - Growth, Trends, and Forecasts (2020-2025)

The Argentine food flavor and enhancer market is projected register a CAGR of 3.7% during the forecast period, 2020-2025.

• The market is majorly driven by the distinct taste profiles preferred by the consumers, as a result of the frequent launches of distinct flavors and enhancers by the key players. For instance, Firmenich launched a new line of natural flavor solutions, “Protein Shield Flavors” for the beverage products with high protein content. In addition, consumer inclination toward clean-label and organic products boosts the natural food flavor segment of the market.

Key Market Trends

Growing Inclination Toward Clean Label Ingredients

The trend of naturally sourced ingredients has been spreading across the South American region, especially in Argentina and Brazil. Food and beverage companies have been largely affected with almost all international and local players forced to remove artificial flavors and additives from their product lines. In parallel, the clean label affected the country's flavor market, wherein producers have responded with high innovation and investments in research and development activities. As consumers are highly skeptical about artificial additives, the rise in consumer's concern on the usage of food additives and preservatives led to the demand growth for transparency and clean labels, thus, hindering the artificial flavor and additive segments of the market.

Rising Market for Natural Flavors and Enhancers

Natural flavors are substances that are extracted from plants, herbs and spices, fruits, vegetables, or microbial fermentation. The increasing interest in the nutritionally enriched and natural products promoted the demand for natural flavors in the market. Natural herbs and spices were earlier used only in domestic cooking for flavors, which are now used at an industrial level by various players. Additionally, various companies have their own special authentic flavors. Thus, launches of new innovative natural and exotic flavors by the key players are fueling the market growth. Rosemary extracts have a growing demand in the market for its antioxidant property.

Competitive Landscape

The Argentine food flavor and enhancer market is competitive and fragmented in nature, owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies, along with new product development as strategic approaches adopted by the leading companies, to boost their brand presence among consumers. Key players dominating the market include Corbion NV, Givaudan, Firmenich SA, Bell Flavors & Fragrances, GrupoSaporiti SA, and Sensient Technologies Corporation, among others.

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