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Latin America Flavours and Fragrances Market: By Segment: Flavours, Fragrances; By Type: Synthetic, Natural; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Latin America Flavours and Fragrances Market Outlook

The Latin America Flavours and Fragrances market reached a value of almost USD 3.15 billion in 2020. The market is aided by the growth of the global market. The global market is expected to witness a healthy growth in the forecast period of 2022-2027, growing at a CAGR of 5.2%.

 

Latin America Flavours and Fragrances Market

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The region, which represents just over a tenth of the global industry, is expected to grow faster than mature markets like North America and Western Europe. Currently, the Flavours and Fragrances industry is dominated by Europe and North America with the Asia Pacific emerging as a significant market. Within Europe, the Eastern European countries are projected to witness a more rapid growth in the coming years than the more mature Western Europe. Currently, Germany leads the industry, driven by its thriving food and beverage and beauty sectors. The North American market is led by the US, while in the Asia Pacific, the industry is led by emerging economies like China and India along with mature markets like Japan. The industry, globally, is being driven by the diversification and innovation in the products as well as the growth in their application sectors.

In the Latin America, Brazil is the major player, accounting for over 40% of the market share. Brazil is the largest economy in the Latin America region. With a growing middle-class population and rising urbanisation, the industry in the region is expected to grow due to the consequent change in consumption pattern. In 2017, over 85% of the Brazilian population lived in urban areas with the urbanisation projected to grow at an annual rate of nearly 1%. Argentina, another leading Latin America economy, is the second largest market for flavour and fragrance. The industry in both these Latin America nations is being driven by the change in consumption patterns as defined by the rising middle-class population. The rising applications of flavours and fragrances, despite the relative instability of the economies in the countries, is further aiding the industry growth in these countries as well as the region, as a whole.

 

Properties and Applications

Flavours are perceived by the tongue and are introduced to products like foods and beverages to augment the taste of the substance. Fragrances, on the other hand, are felt through the olfactory senses and impart a pleasant odour to products.

 

Latin America Flavours and Fragrances Market By Segment

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By the type of flavouring agent, the industry can be divided as nature identical, artificial, and natural flavouring substance. They are found in either liquid or dry forms, with the dry form dominating the global industry. Fragrances, on the other hand, can be bifurcated into synthetic and natural. Natural fragrances can be further subdivided into:

  • Flowers
  • Fruits
  • Musk
  • Wood
  • Spice
  • Others

While flavours find their applications in sectors like beverage, dairy and frozen desserts, savouries and snacks, and bakery and confectionery products, among others, fragrances find their uses in sectors like:

  • Soap and Detergents  
  • Cosmetics and Toiletries
  • Fine Fragrances
  • Household Cleaners and Air Fresheners 
  • Others

The report by EMR also gives an in-depth insight into the regional markets of Latin America like Brazil, Argentina, and others.

 

Latin America Flavours and Fragrances Market By Region

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Market Analysis

The Latin America Flavours and Fragrances market is being driven by the extensive use of the products in their application sectors. The growth in food and beverage, and beauty industries, especially in countries like Argentina and Brazil, is aiding the market growth in the region. Brazil is the largest beauty market in the region, with the industry accounting for 1.8% of the country’s GDP. The industry is aiding the growth of the fragrance sector in particular with increased purchases of deodorant and fragrances. Being a hygiene conscious country, it is aiding the growth of the soaps and detergents application sector of fragrances. Brazilians are also increasingly seeking out natural flavours and fragrances along with premium products like fine fragrances.

In Argentina, consumers are seeking tier-2 and 3 brands over premium products with companies attracting consumers with offers and discounts on products purchased through supermarkets and direct sellers. The affordable prices offered by the key players in the cosmetics industry is propelling the increased growth of the bath and beauty products, with fragrances witnessing a comparatively higher demand.  The fragrance sector in the country is being driven by the expansion of the sector into specialised men’s fragrances and growth in gift-based purchases around holidays and special occasions.

The thriving food and beverage industry in the Latin America region is aiding the flavour industry growth. Flavours, globally, find their leading use in the beverage segment, and is thus, aided by the robustly growing beverage industry in Latin America. Latin America and the Caribbean, as a whole, account for nearly 17.5% of the global beverage industry. The Flavours and Fragrances industry is also being aided by the rise in the number of people seeking out healthier food products while unwilling to compromise on taste. Thus, these healthier food products are imbibed with additional flavours. The growth in the consumption of processed products is also driving the market in the region.

 

Competitive Landscape

The report gives a detailed look into the following key players in the Latin America flavour and fragrances market, covering their market share, capacity, and latest developments like plant turnarounds, mergers and acquisitions, and capacity expansions:

  • Givaudan SA
  • Firmenich SA
  • Frutarom Industries Ltd.
  • Geroma do Brasil
  • Giannone & Cia. Ltda.
  • MANE Colombia
  • Sabores y Fragancias S.A.

The EMR report assesses the market based on the Porter’s Five Forces model. A SWOT analysis has also been provided.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Segment, Type, Region
Breakup by Segment Flavours, Fragrances
Breakup by Type Synthetic, Natural
Breakup by Region Brazil, Argentina, Mexico, Others
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Givaudan SA, Firmenich SA, Geroma do Brasil, Frutarom Industries Ltd., Giannone & Cia. Ltda., MANE Colombia, Sabores y Fragancias S.A., Mane SA
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Latin America
7    Industry Opportunities and Challenges
8    Global Flavours and Fragrances Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Flavours and Fragrances Historical Market (2017-2021) 
    8.3    Global Flavours and Fragrances Market Forecast (2022-2027)
    8.4    Global Flavours and Fragrances Market by Segment
        8.4.1    Flavours
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Fragrances
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Flavours and Fragrances Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Latin America Flavours and Fragrances Market Analysis
    9.1    Key Industry Highlights
    9.2    Latin America Flavours and Fragrances Historical Market (2017-2021) 
    9.3    Latin America Flavours and Fragrances Market Forecast (2022-2027)
    9.4    Latin America Flavours and Fragrances Market by Segment
        9.4.1    Flavours
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2017-2021)
            9.4.1.3    Forecast Trend (2022-2027)
        9.4.2    Fragrances
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2017-2021)
            9.4.2.3    Forecast Trend (2022-2027)
    9.5    Latin America Flavours and Fragrances Market by Type
        9.5.1    Synthetic
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2017-2021)
            9.5.1.3    Forecast Trend (2022-2027)
        9.5.2    Natural
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2017-2021)
            9.5.2.3    Forecast Trend (2022-2027)
    9.6    Latin America Flavours and Fragrances Market by Country
        9.6.1    Market Share
            9.6.1.1    Brazil
            9.6.1.2    Argentina
            9.6.1.3    Mexico 
            9.6.1.4    Others
10    Latin America Flavours Market Analysis
    10.1    Key Industry Highlights
    10.2    Latin America Flavours Historical Market (2017-2021) 
    10.3    Latin America Flavours Market Forecast (2022-2027)
    10.4    Latin America Flavours Market by Flavouring Agent
        10.4.1    Nature Identical Flavouring Substance
            10.4.1.1    Market Share
            10.4.1.2    Historical Trend (2017-2021)
            10.4.1.3    Forecast Trend (2022-2027)
        10.4.2    Artificial Flavouring Substance
            10.4.2.1    Market Share
            10.4.2.2    Historical Trend (2017-2021)
            10.4.2.3    Forecast Trend (2022-2027)
        10.4.3    Natural Flavours
            10.4.3.1    Market Share
            10.4.3.2    Historical Trend (2017-2021)
            10.4.3.3    Forecast Trend (2022-2027)
    10.5    Latin America Flavours Market by Form
        10.5.1    Liquid
            10.5.1.1    Market Share
            10.5.1.2    Historical Trend (2017-2021)
            10.5.1.3    Forecast Trend (2022-2027)
        10.5.2    Dry
            10.5.2.1    Market Share
            10.5.2.2    Historical Trend (2017-2021)
            10.5.2.3    Forecast Trend (2022-2027)
    10.6    Latin America Flavours Market by Application
        10.6.1    Beverage
            10.6.1.1    Market Share
            10.6.1.2    Historical Trend (2017-2021)
            10.6.1.3    Forecast Trend (2022-2027)
        10.6.2    Bakery and Confectionery Products
            10.6.2.1    Market Share
            10.6.2.2    Historical Trend (2017-2021)
            10.6.2.3    Forecast Trend (2022-2027)
        10.6.3    Dairy and Frozen Desserts
            10.6.3.1    Market Share
            10.6.3.2    Historical Trend (2017-2021)
            10.6.3.3    Forecast Trend (2022-2027)
        10.6.4    Savouries and snacks
            10.6.4.1    Market Share
            10.6.4.2    Historical Trend (2017-2021)
            10.6.4.3    Forecast Trend (2022-2027)
        10.6.5    Others
11    Latin America Fragrances Market Analysis
    11.1    Key Industry Highlights
    11.2    Latin America Fragrances Historical Market (2017-2021) 
    11.3    Latin America Fragrances Market Forecast (2022-2027)
    11.4    Latin America Fragrances Market by Type
        11.4.1    Synthetic
            11.4.1.1    Market Share
            11.4.1.2    Historical Trend (2017-2021)
            11.4.1.3    Forecast Trend (2022-2027)
        11.4.2    Natural
            11.4.2.1    Market Share
            11.4.2.2    Historical Trend (2017-2021)
            11.4.2.3    Forecast Trend (2022-2027)
    11.5    Latin America Fragrances Market by Natural Fragrances Type
        11.5.1    Flowers
            11.5.1.1    Market Share
            11.5.1.2    Historical Trend (2017-2021)
            11.5.1.3    Forecast Trend (2022-2027)
        11.5.2    Fruits
            11.5.2.1    Market Share
            11.5.2.2    Historical Trend (2017-2021)
            11.5.2.3    Forecast Trend (2022-2027)
        11.5.3    Musk
            11.5.3.1    Market Share
            11.5.3.2    Historical Trend (2017-2021)
            11.5.3.3    Forecast Trend (2022-2027)
        11.5.4    Wood
            11.5.4.1    Market Share
            11.5.4.2    Historical Trend (2017-2021)
            11.5.4.3    Forecast Trend (2022-2027)
        11.5.5    Spice
            11.5.5.1    Market Share
            11.5.5.2    Historical Trend (2017-2021)
            11.5.5.3    Forecast Trend (2022-2027)
        11.5.6    Others
    11.6    Latin America Fragrances Market by Application
        11.6.1    Soap and Detergents  
            11.6.1.1    Market Share
            11.6.1.2    Historical Trend (2017-2021)
            11.6.1.3    Forecast Trend (2022-2027)
        11.6.2    Cosmetics and Toiletries
            11.6.2.1    Market Share
            11.6.2.2    Historical Trend (2017-2021)
            11.6.2.3    Forecast Trend (2022-2027)
        11.6.3    Fine Fragrances
            11.6.3.1    Market Share
            11.6.3.2    Historical Trend (2017-2021)
            11.6.3.3    Forecast Trend (2022-2027)
        11.6.4    Household Cleaners and Air Fresheners
            11.6.4.1    Market Share
            11.6.4.2    Historical Trend (2017-2021)
            11.6.4.3    Forecast Trend (2022-2027)
        11.6.5    Others
12    Market Dynamics
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    EMR’s Key Indicators for Demand
    12.4    EMR’s Key Indicators for Price
13    Value Chain Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    Givaudan SA
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Firmenich SA
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3     Geroma Do Brasil Industria E Comercio Ltda
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    Frutarom Industries Ltd.
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Giannone & Cia. Ltda.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Others
15    Industry Events and Developments


List of Figures and Tables

1.    Global Flavours and Fragrances Market: Key Industry Highlights, 2016 and 2026
2.    Global Flavours and Fragrances Historical Market: Breakup by Segment (USD Million), 2017-2021
3.    Global Flavours and Fragrances Market Forecast: Breakup by Segment (USD Million), 2022-2027
4.    Global Flavours and Fragrances Historical Market: Breakup by Region (USD Million), 2017-2021
5.    Global Flavours and Fragrances Market Forecast: Breakup by Region (USD Million), 2022-2027
6.    Latin America Flavours and Fragrances Historical Market: Breakup by Segment (USD Million), 2017-2021
7.    Latin America Flavours and Fragrances Market Forecast: Breakup by Segment (USD Million), 2022-2027
8.    Latin America Flavours and Fragrances Historical Market: Breakup by Type (USD Million), 2017-2021
9.    Latin America Flavours and Fragrances Market Forecast: Breakup by Type (USD Million), 2022-2027
10.    Latin America Flavours and Fragrances Historical Market: Breakup by Country (USD Million), 2017-2021
11.    Latin America Flavours and Fragrances Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Latin America Flavours Historical Market: Breakup by Flavouring Agent (USD Million), 2017-2021
13.    Latin America Flavours Market Forecast: Breakup by Flavouring Agent (USD Million), 2022-2027
14.    Latin America Flavours Historical Market: Breakup by Form (USD Million), 2017-2021
15.    Latin America Flavours Market Forecast: Breakup by Form (USD Million), 2022-2027
16.    Latin America Flavours Historical Market: Breakup by Application (USD Million), 2017-2021
17.    Latin America Flavours Market Forecast: Breakup by Application (USD Million), 2022-2027
18.    Latin America Fragrances Historical Market: Breakup by Type (USD Million), 2017-2021
19.    Latin America Fragrances Market Forecast: Breakup by Type (USD Million), 2022-2027
20.    Latin America Fragrances Historical Market: Breakup by Natural Fragrances Type (USD Million), 2017-2021
21.    Latin America Fragrances Market Forecast: Breakup by Natural Fragrances Type (USD Million), 2022-2027
22.    Latin America Fragrances Historical Market: Breakup by Application (USD Million), 2017-2021
23.    Latin America Fragrances Market Forecast: Breakup by Application (USD Million), 2022-2027
24.    Latin America Flavours and Fragrances Market Structure

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