Latin America Beverage Flavoring Systems Market Size & Outlook
Latin America beverage flavoring systems market, 2018-2030 (US$M)
Related Markets
Latin America beverage flavoring systems market highlights
- The Latin America beverage flavoring systems market generated a revenue of USD 524.6 million in 2024.
- The market is expected to grow at a CAGR of 5.7% from 2025 to 2030.
- In terms of segment, flavoring agents was the largest revenue generating ingredients in 2024.
- Flavoring carriers is the most lucrative ingredients segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 524.6 million |
| Market revenue in 2030 | USD 732.5 million |
| Growth rate | 5.7% (CAGR from 2025 to 2030) |
| Largest segment | Flavoring agents |
| Fastest growing segment | Flavoring carriers |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Flavoring agents, Flavoring carriers, Flavor enhancers |
Other key industry trends
- In terms of revenue, Latin America region accounted for 9.4% of the global beverage flavoring systems market in 2024.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,716.7 million by 2030.
Flavoring agents was the largest segment with a revenue share of 71.37% in 2024. Horizon Databook has segmented the Latin America beverage flavoring systems market based on flavoring agents, flavoring carriers, flavor enhancers covering the revenue growth of each sub-segment from 2018 to 2030.
Consumption of beverages such as protein shakes, flavored milk, tea, coffee as well as beer is increasing in the country. This, in turn, is expected to boost the growth of the beverage flavoring systems market in the Central & South America region in the coming years.
As per Food & Agricultural Organization (FAO), in South America, the average production volume of milk and milk products was 76,688 thousand tons of milk equivalent during the period of 2016-2018. The production increased to 80,690 thousand tons of milk equivalent in 2019, which is estimated to further increase to 82,326 thousand tons of milk equivalent in 2020.
Rising production of dairy-based products is, therefore, expected to contribute to increased manufacturing of fruit, chocolate, vanilla, and dairy-based flavoring systems that are commonly used in milkshakes or smoothies.
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Beverage Flavoring Systems Market Scope
Beverage Flavoring Systems Market Companies
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Latin America beverage flavoring systems market size, by country, 2018-2030 (US$M)
Latin America Beverage Flavoring Systems Market Outlook Share, 2024 & 2030 (US$M)
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