Latin America Flavors Market Size & Outlook, 2022-2030

The flavors market in Latin America is expected to reach a projected revenue of US$ 2,973.3 million by 2030. A compound annual growth rate of 6% is expected of Latin America flavors market from 2023 to 2030.

Revenue, 2022 (US$M)
$1,866.0
Forecast, 2030 (US$M)
$2,973.3
CAGR, 2023 - 2030
6%
Report Coverage
Latin America

Latin America flavors market highlights

  • The Latin America flavors market generated a revenue of USD 1,866.0 million in 2022.
  • The market is expected to grow at a CAGR of 6% from 2023 to 2030.
  • In terms of segment, food was the largest revenue generating application in 2022.
  • Beverages is the most lucrative application segment registering the fastest growth during the forecast period.
  • Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.

Latin America data book summary

Market revenue in 2022USD 1,866.0 million
Market revenue in 2030USD 2,973.3 million
Growth rate6% (CAGR from 2022 to 2030)
Largest segmentFood
Fastest growing segmentBeverages
Historical data covered2017 - 2021
Base year for estimation2022
Forecast period covered2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationFood, Beverages, Others (Tobacco products, pharmaceuticals, etc.)
Key market players worldwideGivaudan SA, DSM, Symrise AG, Sensient Technologies Corp, International Flavors & Fragrances Inc, Takasago International Corp, Kerry Group PLC Class A, MANE, Robertet SA, Huabao Flavours & Fragrances

Other key industry trends

  • In terms of revenue, Latin America region accounted for 10.2% of the global flavors market in 2022.
  • 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 10,795.5 million by 2030.

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Flavors Market Scope

Flavors market segmentation & scope
Dairy Products
Bakery & Confectionery
Supplements & Nutrition Products
Meat & Seafood Products
Snacks
Pet Foods
Sauces, Dressings & Condiments
Others (plant-based food, baby food, etc.)
Juices & Juice Concentrates
Functional Beverages
Alcoholic Beverages
Carbonated Soft Drinks
Others (Smoothies, Coffee, etc.)
Others (Tobacco products, pharmaceuticals, etc.)
Natural
Synthetic
Powder
Liquid/Gel

Flavors Market Companies

Name Profile # Employees HQ Website

Latin America flavors market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to flavors market will help companies and investors design strategic landscapes.


Food was the largest segment with a revenue share of 64.49% in 2022. Horizon Databook has segmented the Latin America flavors market based on food, beverages, others (tobacco products, pharmaceuticals, etc.) covering the revenue growth of each sub-segment from 2017 to 2030.


  • Latin America Flavors Application Outlook (Revenue, USD Million, 2017-2030)
    • Food
      • Dairy Products
      • Bakery & Confectionery
      • Supplements & Nutrition Products
      • Meat & Seafood Products
      • Snacks
      • Pet Foods
      • Sauces, Dressings & Condiments
      • Others (plant-based food, baby food, etc.)
    • Beverages
      • Juices & Juice Concentrates
      • Functional Beverages
      • Alcoholic Beverages
      • Carbonated Soft Drinks
      • Others (Smoothies, Coffee, etc.)
    • Others (Tobacco products, pharmaceuticals, etc.)
  • Latin America Flavors Nature Outlook (Revenue, USD Million, 2017-2030)
    • Natural
    • Synthetic
  • Latin America Flavors Form Outlook (Revenue, USD Million, 2017-2030)
    • Powder
    • Liquid/Gel

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Target buyers of Latin America flavors market databook

  • Our clientele includes a mix of flavors market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
  • The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.

Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America flavors market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America flavors market from 2017 to 2030, including revenue numbers, major trends, and company profiles.

Partial client list

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Latin America flavors market size, by country, 2017-2030 (US$M)

Latin America Flavors Market Outlook Share, 2022 & 2030 (US$M)

Latin America flavors market size, by country, 2017-2030 (US$M)

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