Latin America Natural Flavors And Fragrances Market Size & Outlook
Latin America natural flavors and fragrances market, 2018-2030 (US$M)
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Latin America natural flavors and fragrances market highlights
- The Latin America natural flavors and fragrances market generated a revenue of USD 3,234.0 million in 2022.
- The market is expected to grow at a CAGR of 7.1% from 2023 to 2030.
- In terms of segment, essential oils was the largest revenue generating product in 2022.
- Oleoresins is the most lucrative product 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 2022 | USD 3,234.0 million |
| Market revenue in 2030 | USD 5,613.3 million |
| Growth rate | 7.1% (CAGR from 2022 to 2030) |
| Largest segment | Essential oils |
| Fastest growing segment | Oleoresins |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Essential Oils, Oleoresins |
| Key market players worldwide | MANE, Blue Pacific Solar, Biolandes, Young Living, Basf SE, Symrise AG, Falcon Oil & Gas Ltd, DSM Firmenich AG, Givaudan SA, International Flavors & Fragrances Inc, Flavex Naturextrakte, Sensient Technologies Corp, Takasago International Corp, T Hasegawa Co Ltd, Robertet SA, McCormick & Co Inc, Kerry Group PLC Class A |
Other key industry trends
- In terms of revenue, Latin America region accounted for 14.8% of the global natural flavors and fragrances 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 12,112.5 million by 2030.
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Natural Flavors And Fragrances Market Scope
Natural Flavors And Fragrances Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America natural flavors and fragrances 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 natural flavors and fragrances market will help companies and investors design strategic landscapes.
Essential oils was the largest segment with a revenue share of 84.48% in 2022. Horizon Databook has segmented the Latin America natural flavors and fragrances market based on essential oils, oleoresins covering the revenue growth of each sub-segment from 2018 to 2030.
The market for various flavors and fragrances in Central and South America is anticipated to be driven by increasing demand for confectionery and bakery goods. Specifically, Peru is anticipated to grow significantly over the forecast period due to the rising consumer need for unique flavors, especially among the Gen Z and young population, urbanization, and globalization.
Additionally, as consumers grow more health conscious, there is an increased desire for food products that are manufactured with natural ingredients and have fewer artificial flavorings. As a result, the manufacturers in the area are focusing on creating flavors that come from natural sources as well as some synthetic sources.
On the other hand, many consumers have developed an awareness in buying clean label products, which allow for a greater range of naturally produced ingredients, hence driving up need for natural food flavors. Manufacturers are progressively transitioning away from artificial flavorings and toward natural components to meet the expanding demand for natural flavors.
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Target buyers of Latin America natural flavors and fragrances market databook
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Our clientele includes a mix of natural flavors and fragrances market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America natural flavors and fragrances market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America natural flavors and fragrances market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America natural flavors and fragrances market size, by country, 2018-2030 (US$M)
Latin America Natural Flavors And Fragrances Market Outlook Share, 2022 & 2030 (US$M)
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