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The Peru flavours market stood at a value of around USD 75.02 million in 2020. The market is further expected to grow at a CAGR of 6.3% in the forecast period of 2021-2026 to attain a value of around USD 107.33 million by 2026.
Based on flavouring agent, the natural flavour segment is predicted to account for a significant market share in the Peru flavours industry. This can be attributed to the rising health consciousness among consumers, who are seeking food items with more natural flavourings made using plant-based ingredients instead of artificial additives made from harmful chemicals. In addition, the increased consumption of artificial flavourings is associated with health concerns such as allergies and other ailments. This is leading to increased integration of natural flavours in a variety of food products. These factors are predicted to augment the market growth in the coming years.
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The increased demand for Peruvian flavours across the globe is anticipated to aid the market growth. In this regard, the increased demand for Peruvian sauces and dips such as Aji Criolla and Aji Amarillo, among others, are anticipated to spearhead the demand for liquid flavourings. In addition, the increased usability of liquid extracts and concentrates to add flavours to food items due to their convenience is also projected to aid the market growth in the coming years. Meanwhile, the dry form of flavouring is increasingly utilised in traditional Peruvian cooking, which is witnessing robust popularity in the West due to the increasing globalisation and the rising demand for foreign cuisines among consumers. These factors are estimated to positively contribute to the industry growth in the coming years.
The Flavor Extract Manufacturers Association (FEMA) define flavours as a range of sensations that one encounters during the process of consuming food and beverage. Flavours refer to the taste of different food items, which are brought together through the process of cooking. Based on the type of dish, certain flavours are added to help accentuate the overall taste of the dish. The flavours can be modified according to the preference of consumers. These additives, natural or synthetic, help create a variety of flavours and are especially used in packaged foods to help preserve their taste throughout their shelf-life.
By flavouring agent, the market is divided into:
On the basis of form, the industry can be segmented into:
Based on application, the market can be categorised into:
The Peru Flavours industry is being driven by the increasing demand for new and innovative flavour options among consumers. This can be attributed to the rising globalisation, which is leading to a shift in food preferences of consumers. The growing demand for dishes that are healthy and delicious is also predicted to facilitate the industry growth. In addition, the rising disposable incomes, improved living standards, and changing lifestyles are predicted to bolster the market growth. Furthermore, the escalating consciousness among consumers pertaining to health and fitness is anticipated to propel the demand for natural flavouring agents, which is projected to aid the industry growth in the forecast period. In addition, the rising investment in the food and beverage industry by the government owing to the growing global population is also expected to contribute to the market growth in the coming years.
The report gives a detailed analysis of the following key players in the Peru flavours market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Flavouring Agent, Form, Application|
|Breakup by Flavouring Agent||Nature Identical Flavouring Substance, Artificial Flavouring Substance, Natural Flavours|
|Breakup by Form||Liquid, Dry|
|Breakup by Application||Beverages, Bakery and Confectionery Products, Dairy and Frozen Desserts, Savouries and Snacks, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|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, International Flavors & Fragrances Inc., Bell Flavors & Fragrances, Inc., Innalsa, Quimtia, Others|
|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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 Latin America Flavours Market Overview
8.1 Key Industry Highlights
8.2 Latin America Flavours Historical Market (2016-2020)
8.3 Latin America Flavours Market Forecast (2021-2026)
9 Peru Flavours Market Analysis
9.1 Key Industry Highlights
9.2 Peru Flavours Historical Market (2016-2020)
9.3 Peru Flavours Market Forecast (2021-2026)
9.4 Peru Flavours Market by Flavouring Agent
9.4.1 Nature Identical Flavouring Substance
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
9.4.2 Artificial Flavouring Substance
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
9.4.3 Natural Flavours
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
9.5 Peru Flavours Market by Form
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
9.6 Peru Flavours Market by Application
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
9.6.2 Bakery and Confectionery Products
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
9.6.3 Dairy and Frozen Desserts
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2016-2020)
220.127.116.11 Forecast Trend (2021-2026)
9.6.4 Savouries and Snacks
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2016-2020)
126.96.36.199 Forecast Trend (2021-2026)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Givaudan SA
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
12.2.2 International Flavors & Fragrances Inc.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12.2.3 Bell Flavors & Fragrances, Inc.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
13 Industry Events and Developments
List of Figures and Tables
1. Peru Flavours Market: Key Industry Highlights, 2016 and 2026
2. Peru Flavours Historical Market: Breakup by Flavouring Agent (USD Million), 2016-2020
3. Peru Flavours Market Forecast: Breakup by Flavouring Agent (USD Million), 2021-2026
4. Peru Flavours Historical Market: Breakup by Form (USD Million), 2016-2020
5. Peru Flavours Market Forecast: Breakup by Form (USD Million), 2021-2026
6. Peru Flavours Historical Market: Breakup by Application (USD Million), 2016-2020
7. Peru Flavours Market Forecast: Breakup by Application (USD Million), 2021-2026
8. Peru Flavours Market Structure
In 2020, the Peru flavours market attained a value of nearly USD 75.02 million.
The market is projected to grow at a CAGR of 6.3% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach a value of USD 107.33 million by 2026.
The major drivers of the industry, such as the increased demand for innovative flavours, rising demand for natural flavourings, increasing disposable incomes, escalating health awareness, and the rapid investments in research and development activities by the food and beverage manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising globalisation, changing consumer preferences, and increased demand for convenience foods.
The significant flavouring agents considered within the market report include nature identical flavouring substance, artificial flavouring substance, and natural flavours.
The major forms of the product include liquid and dry.
The major applications of the product include beverages, bakery and confectionery products, dairy and frozen desserts, savouries and snacks, and others.
The major players in the industry are Givaudan SA, International Flavors & Fragrances Inc., Bell Flavors & Fragrances, Inc., Innalsa, and Quimtia, among others.
The Peru flavours market attained a value of USD 75.02 million in 2020, driven by the increasing globalisation and the thriving food and beverages industry. Aided by the increasing consumer preference for natural flavours, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 6.3%. The market is projected to reach USD 107.33 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of flavouring agent, the market can be distributed into nature identical flavouring substance, artificial flavouring substance, and natural flavours. By form, the industry can be bifurcated into liquid and dry. Based on application, the market can be categorised into beverages, bakery and confectionery products, dairy and frozen, desserts, and savouries and snacks, among others. The key players in the above market include Givaudan SA, International Flavors & Fragrances Inc., Bell Flavors & Fragrances, Inc., Innalsa, and Quimtia, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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