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Report
Latin America Flavours and Fragrances Market Report and Forecast 2024-2032
Market Report I 2024-01-29 I 130 Pages I EMR Inc.
Latin America Flavours and Fragrances Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the Latin America flavours and fragrances market reached a value of almost USD 3.67 billion in 2023. The market is aided by the growth of the global market. Aided by the burgeoning demand for diverse and innovative flavours in food and beverages, as well as the rise in cosmetic and personal care products, the global market is expected to witness a healthy growth in the forecast period of 2024-2032, growing at a CAGR of 5.2%.
Flavours and fragrances are integral components used to enhance the aroma and taste of various consumer products, spanning from processed foods and drinks to beauty products and household cleaners. In the food and beverage sector, they add depth and dimension to culinary experiences, making consumables more appealing. In personal care and cosmetics, fragrances play a pivotal role in providing a sensory richness and product differentiation. These aromatic compounds, derived from natural extracts or synthesised in labs, have increasingly become cornerstones in product formulation and branding.
A surge in consumer inclination towards novel and exotic taste experiences has been a pivotal driver for the Latin America flavours and fragrances market demand. The region, with its rich biodiversity, offers a plethora of indigenous fruits, herbs, and plants, which have become sought-after flavour profiles in global food innovations. Furthermore, the growing middle-class population, with rising disposable income, is increasingly demanding premium and varied products, further fuelling the market.
Moreover, the Latin America flavours and fragrances market growth is being bolstered by the unprecedented expansion of the cosmetics and personal care industry, particularly in countries like Brazil and Mexico. This growth, coupled with a cultural emphasis on grooming and appearance, has propelled the demand for fragrances. Brands are continuously launching products with unique scent profiles to cater to the evolving consumer preferences, reinforcing the significance of the fragrance market in the region.
Additionally, the Latin America flavours and fragrances market outlook are also influenced by the sustainable and natural sourcing trends. With consumers becoming more conscious of the origins of ingredients and their environmental impact, there's a marked shift towards eco-friendly, organic, and natural flavours and fragrances. This is leading manufacturers to explore sustainable extraction methods and delve deeper into the rich biodiversity of Latin America for raw materials.
Market Segmentation
The market can be divided based on segment, type, and country.
Market Breakup by Segment
- Flavours
- Fragrances
Market Breakup by Type
- Synthetic
- Natural
Market Breakup by Country
- Brazil
- Argentina
- Mexico
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Latin America flavours and fragrances market. Some of the major players explored in the report by Expert Market Research are as follows:
- Givaudan SA
- Firmenich SA
- Geroma Do Brasil Industria E Comercio Ltda
- Frutarom Industries Ltd.
- Giannone & Cia. Ltda.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
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
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Latin America
7 Opportunities and Challenges in the Market
8 Global Flavours and Fragrances Market Analysis
8.1 Key Industry Highlights
8.2 Global Flavours and Fragrances Historical Market (2018-2023)
8.3 Global Flavours and Fragrances Market Forecast (2024-2032)
8.4 Global Flavours and Fragrances Market by Segment
8.4.1 Flavours
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Fragrances
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Flavours and Fragrances Market by Region
8.5.1 North America
8.5.2 Europe
8.5.3 Asia Pacific
8.5.4 Latin America
8.5.5 Middle East and Africa
9 Latin America Flavours and Fragrances Market Analysis
9.1 Key Industry Highlights
9.2 Latin America Flavours and Fragrances Historical Market (2018-2023)
9.3 Latin America Flavours and Fragrances Market Forecast (2024-2032)
9.4 Latin America Flavours and Fragrances Market by Segment
9.4.1 Flavours
9.4.1.1 Historical Trend (2018-2023)
9.4.1.2 Forecast Trend (2024-2032)
9.4.2 Fragrances
9.4.2.1 Historical Trend (2018-2023)
9.4.2.2 Forecast Trend (2024-2032)
9.5 Latin America Flavours and Fragrances Market by Type
9.5.1 Synthetic
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Natural
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
9.6 Latin America Flavours and Fragrances Market by Country
9.6.1 Brazil
9.6.2 Argentina
9.6.3 Mexico
9.6.4 Others
10 Latin America Flavours Market Analysis
10.1 Key Industry Highlights
10.2 Latin America Flavours Historical Market (2018-2023)
10.3 Latin America Flavours Market Forecast (2024-2032)
10.4 Latin America Flavours Market by Flavouring Agent
10.4.1 Nature Identical Flavouring Substance
10.4.1.1 Historical Trend (2018-2023)
10.4.1.2 Forecast Trend (2024-2032)
10.4.2 Artificial Flavouring Substance
10.4.2.1 Historical Trend (2018-2023)
10.4.2.2 Forecast Trend (2024-2032)
10.4.3 Natural Flavours
10.4.3.1 Historical Trend (2018-2023)
10.4.3.2 Forecast Trend (2024-2032)
10.5 Latin America Flavours Market by Form
10.5.1 Liquid
10.5.1.1 Historical Trend (2018-2023)
10.5.1.2 Forecast Trend (2024-2032)
10.5.2 Dry
10.5.2.1 Historical Trend (2018-2023)
10.5.2.2 Forecast Trend (2024-2032)
10.6 Latin America Flavours Market by Application
10.6.1 Beverage
10.6.1.1 Historical Trend (2018-2023)
10.6.1.2 Forecast Trend (2024-2032)
10.6.2 Bakery and Confectionery Products
10.6.2.1 Historical Trend (2018-2023)
10.6.2.2 Forecast Trend (2024-2032)
10.6.3 Dairy and Frozen Desserts
10.6.3.1 Historical Trend (2018-2023)
10.6.3.2 Forecast Trend (2024-2032)
10.6.4 Savouries and snacks
10.6.4.1 Historical Trend (2018-2023)
10.6.4.2 Forecast Trend (2024-2032)
10.6.5 Others
10.7 Latin America Flavours Market by Country
10.7.1 Brazil
10.7.1.1 Historical Trend (2018-2023)
10.7.1.2 Forecast Trend (2024-2032)
10.7.2 Argentina
10.7.2.1 Historical Trend (2018-2023)
10.7.2.2 Forecast Trend (2024-2032)
10.7.3 Mexico
10.7.3.1 Historical Trend (2018-2023)
10.7.3.2 Forecast Trend (2024-2032)
10.7.4 Others
10.7.4.1 Historical Trend (2018-2023)
10.7.4.2 Forecast Trend (2024-2032)
11 Latin America Fragrances Market Analysis
11.1 Key Industry Highlights
11.2 Latin America Fragrances Historical Market (2018-2023)
11.3 Latin America Fragrances Market Forecast (2024-2032)
11.4 Latin America Fragrances Market by Type
11.4.1 Synthetic
11.4.1.1 Historical Trend (2018-2023)
11.4.1.2 Forecast Trend (2024-2032)
11.4.2 Natural
11.4.2.1 Historical Trend (2018-2023)
11.4.2.2 Forecast Trend (2024-2032)
11.5 Latin America Fragrances Market by Natural Fragrances Type
11.5.1 Flowers
11.5.1.1 Historical Trend (2018-2023)
11.5.1.2 Forecast Trend (2024-2032)
11.5.2 Fruits
11.5.2.1 Historical Trend (2018-2023)
11.5.2.2 Forecast Trend (2024-2032)
11.5.3 Musk
11.5.3.1 Historical Trend (2018-2023)
11.5.3.2 Forecast Trend (2024-2032)
11.5.4 Wood
11.5.4.1 Historical Trend (2018-2023)
11.5.4.2 Forecast Trend (2024-2032)
11.5.5 Spice
11.5.5.1 Historical Trend (2018-2023)
11.5.5.2 Forecast Trend (2024-2032)
11.5.6 Others
11.6 Latin America Fragrances Market by Application
11.6.1 Soap and Detergents
11.6.1.1 Historical Trend (2018-2023)
11.6.1.2 Forecast Trend (2024-2032)
11.6.2 Cosmetics and Toiletries
11.6.2.1 Historical Trend (2018-2023)
11.6.2.2 Forecast Trend (2024-2032)
11.6.3 Fine Fragrances
11.6.3.1 Historical Trend (2018-2023)
11.6.3.2 Forecast Trend (2024-2032)
11.6.4 Household Cleaners and Air Fresheners
11.6.4.1 Historical Trend (2018-2023)
11.6.4.2 Forecast Trend (2024-2032)
11.6.5 Others
11.7 Latin America Fragrances Market by Country
11.7.1 Brazil
11.7.1.1 Historical Trend (2018-2023)
11.7.1.2 Forecast Trend (2024-2032)
11.7.2 Argentina
11.7.2.1 Historical Trend (2018-2023)
11.7.2.2 Forecast Trend (2024-2032)
11.7.3 Mexico
11.7.3.1 Historical Trend (2018-2023)
11.7.3.2 Forecast Trend (2024-2032)
11.7.4 Others
11.7.4.1 Historical Trend (2018-2023)
11.7.4.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Value Chain Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Givaudan SA
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Firmenich SA
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Geroma Do Brasil Industria E Comercio Ltda
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Frutarom Industries Ltd.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Giannone & Cia. Ltda.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Flavours and Fragrances Market: Key Industry Highlights, 2018 and 2032
2. Global Flavours and Fragrances Historical Market: Breakup by Segment (USD Million), 2018-2023
3. Global Flavours and Fragrances Market Forecast: Breakup by Segment (USD Million), 2024-2032
4. Global Flavours and Fragrances Historical Market: Breakup by Region (USD Million), 2018-2023
5. Global Flavours and Fragrances Market Forecast: Breakup by Region (USD Million), 2024-2032
6. Latin America Flavours and Fragrances Historical Market: Breakup by Segment (USD Million), 2018-2023
7. Latin America Flavours and Fragrances Market Forecast: Breakup by Segment (USD Million), 2024-2032
8. Latin America Flavours and Fragrances Historical Market: Breakup by Type (USD Million), 2018-2023
9. Latin America Flavours and Fragrances Market Forecast: Breakup by Type (USD Million), 2024-2032
10. Latin America Flavours and Fragrances Historical Market: Breakup by Country (USD Million), 2018-2023
11. Latin America Flavours and Fragrances Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America Flavours Historical Market: Breakup by Flavouring Agent (USD Million), 2018-2023
13. Latin America Flavours Market Forecast: Breakup by Flavouring Agent (USD Million), 2024-2032
14. Latin America Flavours Historical Market: Breakup by Form (USD Million), 2018-2023
15. Latin America Flavours Market Forecast: Breakup by Form (USD Million), 2024-2032
16. Latin America Flavours Historical Market: Breakup by Application (USD Million), 2018-2023
17. Latin America Flavours Market Forecast: Breakup by Application (USD Million), 2024-2032
18. Latin America Fragrances Historical Market: Breakup by Type (USD Million), 2018-2023
19. Latin America Fragrances Market Forecast: Breakup by Type (USD Million), 2024-2032
20. Latin America Fragrances Historical Market: Breakup by Natural Fragrances Type (USD Million), 2018-2023
21. Latin America Fragrances Market Forecast: Breakup by Natural Fragrances Type (USD Million), 2024-2032
22. Latin America Fragrances Historical Market: Breakup by Application (USD Million), 2018-2023
23. Latin America Fragrances Market Forecast: Breakup by Application (USD Million), 2024-2032
24. Latin America Flavours and Fragrances Market Structure
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