Latin America Specialty Food Ingredients Market Size & Outlook
Latin America specialty food ingredients market, 2018-2030 (US$M)
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Latin America specialty food ingredients market highlights
- The Latin America specialty food ingredients market generated a revenue of USD 5,623.0 million in 2022.
- The market is expected to grow at a CAGR of 3.5% from 2023 to 2030.
- In terms of segment, sensory was the largest revenue generating by product in 2022.
- Functional is the most lucrative by 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 5,623.0 million |
| Market revenue in 2030 | USD 7,394.0 million |
| Growth rate | 3.5% (CAGR from 2022 to 2030) |
| Largest segment | Sensory |
| Fastest growing segment | Functional |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sensory, Functional |
| Key market players worldwide | Naturex, Givaudan SA, Ingredion Inc, Associated British Foods PLC, Kerry Group PLC Class A, Ashland Inc, Archer-Daniels Midland Co, Cargill, DSM, Tate & Lyle PLC, Agropur, WILD Flavors, Diana Group, Chr. Hansen |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.8% of the global specialty food ingredients 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 51,250.3 million by 2030.
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Specialty Food Ingredients Market Scope
Specialty Food Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America specialty food ingredients 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 specialty food ingredients market will help companies and investors design strategic landscapes.
Sensory was the largest segment with a revenue share of 52.66% in 2022. Horizon Databook has segmented the Latin America specialty food ingredients market based on sensory, functional covering the revenue growth of each sub-segment from 2018 to 2030.
Central & South America has been witnessing significant growth in the food & beverage industry over the past few years owing to high investments in the manufacturing sector of the country. Factors such as rapid urbanization and increased spending capacities in countries such as Argentina, Brazil, and Chile contribute significantly to the food & beverage industry growth.
The growing consumer incomes after the economic recession and subsequent recovery are expected to result in a demand surge for beverages, dairy, and confectioneries, thereby driving the specialty food ingredients market growth. The rising demand for new flavors and cuisines in the food & beverage industry is expected to have a positive impact on market growth.
Increasing consumer awareness regarding health & wellness and growing demand for gluten-free products is expected to augment the demand for specialty food ingredients in the region. Furthermore, the manufacturers of baked goods, confectioneries, dairy & frozen products, and beverages are strictly adhering to government policies to retain their consumer base in the region.
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Our clientele includes a mix of specialty food ingredients 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 specialty food ingredients market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America specialty food ingredients market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America specialty food ingredients market size, by country, 2018-2030 (US$M)
Latin America Specialty Food Ingredients Market Outlook Share, 2022 & 2030 (US$M)
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