Introduction of New Flavours in the Brazilian Market are Bolstering the Market Growth
The rising market for flavours in Brazil is rapidly growing owing to the introduction of new and novel flavours to meet the growing consumer demand. Unique flavours like honey-mustard potato chips and guava ketchup are gaining popularity among the consumers. Thus, experimentations with flavours are key trends providing impetus to the market. In addition to this, the growing inclination towards world cuisines owing to rising international exposure and social media influence are some of the factors further augmenting the demand for international flavours, such as Asian and Italian.Exotic flavours like guacamole, curry, Thai, and teriyaki, among others, are widely finding robust applications in snacks, dips, sauces, and ready-to-eat meals, among others. Moreover, the market growth can further be linked to trends surrounding home-cooked meals as a result of the COVID-19 pandemic. Therefore, the demand for distinctive flavours is pushing the growth of the market.
Flavours: Market Segmentation
Flavours refer to additives that add a distinct taste to foods and beverages and are added to either alter or enhance the taste. Flavours can be natural, nature-identical, or artificial and are most commonly available in liquid and dry form.On the basis of flavouring agent, the market can be divided into:
- Nature Identical Flavouring Substance
- Artificial Flavouring Substance
- Natural Flavours
The market, based on form, can be classified as
- Liquid
- Dry
Based on application, the market can be segmented into:
- Beverages
- Bakery and Confectionery Products
- Dairy and Frozen Desserts
- Savouries and Snacks
- Others
Growing Inclination Towards Natural Flavours is Augmenting the Market Growth
The Brazil market for flavours is being driven by a rise in demand for natural flavours owing to rising health consciousness among the consumers. Natural herbs and spices are increasingly finding growth prospects in the food and beverage industry due to the growing inclination towards clean-label products. In addition to this, the growing demand for exotic fruits in the beverage industry in beverages like smoothies and juices is further expanding the flavour market of Brazil.Apart from this, the demand for vegetable-based products is on the rise in the Brazilian market owing to influencing factors like adoption of healthy diets, awareness regarding clean-label products, and convenience foods. In addition to this, the market is growing on account of a steady demand for natural flavours derived from fruits and vegetables, with long shelf lives.
Key Industry Players in the Brazil Flavours Market
The report presents a detailed analysis of the following key players in the Brazil flavours market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:- Givaudan SA
- Firmenich SA.
- International Flavors & Fragrances Inc.
- Archer Daniels Midland Company
- Synergy Flavors Inc
- DUAS RODAS
- Others
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Companies Mentioned
The key companies featured in this Brazil Flavours market report include:- Givaudan SA
- Firmenich SA.
- International Flavors & Fragrances Inc.
- Archer Daniels Midland Company
- Synergy Flavors Inc.
- DUAS RODAS