The Latin America, Middle East and Africa Food Additives Market is expected to witness market growth of 7.8% CAGR during the forecast period (2021 2027).
Consumers' increasingly hectic lifestyles raise demand for ready-to-eat snacks, convenience, and packaged foods. In addition, rising consumer preference for various types of exotic flavors in foods is increasing the demand for processed food as food additives help to add taste and flavor to food while also increasing the shelf life of food, resulting in rising consumer preference for processed food and thus increasing the growth of the Food Additives Market during the forecasting period.
Foodborne diseases are caused by bacteria and pollutants found in food, and the rising prevalence of these diseases is a major driver driving market growth. According to the World Health Organization, approximately 600 million cases of foodborne disease will occur in 2020, resulting in increased government initiatives to minimize the risk of foodborne disease and, as a result, increased use of food additives
The increasing food processing industry in Central and South America is driving product demand. According to the United States Department of Agriculture, Brazil's food processing industry rose significantly from 2019 to 2020. In addition, developments in food and beverage sales channels, as well as an increase in the number of hypermarkets and supermarkets in the region. In addition, the consumption of high-nutrient meals and beverages with increased visual appeal rises. Moreover, the regional market is expected to witness changes in consumer taste and interest in product quality and nutritional value.
Consumer understanding of different sorts of flavors is also expected to play a key role in the dynamics of the regional market. Because there is no real alternative for food additives, the evolution of the food and beverage industry may have an impact on worldwide market decisions.
The Brazil market dominated the LAMEA Food Additives Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $2,655.2 million by 2027. The Argentina market is experiencing a CAGR of 8.4% during (2021 - 2027). Additionally, The UAE market is expected to exhibit a CAGR of 7.5% during (2021 - 2027).
Based on Source, the market is segmented into Natural and Synthetic. Based on Product, the market is segmented into Sweeteners, Flavors & Enhancers, Emulsifiers & Shelf-life Stabilizers, Enzymes, Fat Replacers, Prebiotics & Probiotics, Dietary Fibers, and Others. Based on Application, the market is segmented into Bakery & confectionery, Beverages, Convenience Foods, Dairy & Frozen Desserts, Spices, Condiments, Sauces & Dressings, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Kerry Group PLC, Novozymes A/S, Archer Daniels Midland Company, International Flavors & Fragrances, Inc., Ingredion, Incorporated, Tate & Lyle PLC, Ajinomoto Co. Inc., Chr. Hansen holding A/S, and Cargill Corporation.
Consumers' increasingly hectic lifestyles raise demand for ready-to-eat snacks, convenience, and packaged foods. In addition, rising consumer preference for various types of exotic flavors in foods is increasing the demand for processed food as food additives help to add taste and flavor to food while also increasing the shelf life of food, resulting in rising consumer preference for processed food and thus increasing the growth of the Food Additives Market during the forecasting period.
Foodborne diseases are caused by bacteria and pollutants found in food, and the rising prevalence of these diseases is a major driver driving market growth. According to the World Health Organization, approximately 600 million cases of foodborne disease will occur in 2020, resulting in increased government initiatives to minimize the risk of foodborne disease and, as a result, increased use of food additives
The increasing food processing industry in Central and South America is driving product demand. According to the United States Department of Agriculture, Brazil's food processing industry rose significantly from 2019 to 2020. In addition, developments in food and beverage sales channels, as well as an increase in the number of hypermarkets and supermarkets in the region. In addition, the consumption of high-nutrient meals and beverages with increased visual appeal rises. Moreover, the regional market is expected to witness changes in consumer taste and interest in product quality and nutritional value.
Consumer understanding of different sorts of flavors is also expected to play a key role in the dynamics of the regional market. Because there is no real alternative for food additives, the evolution of the food and beverage industry may have an impact on worldwide market decisions.
The Brazil market dominated the LAMEA Food Additives Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $2,655.2 million by 2027. The Argentina market is experiencing a CAGR of 8.4% during (2021 - 2027). Additionally, The UAE market is expected to exhibit a CAGR of 7.5% during (2021 - 2027).
Based on Source, the market is segmented into Natural and Synthetic. Based on Product, the market is segmented into Sweeteners, Flavors & Enhancers, Emulsifiers & Shelf-life Stabilizers, Enzymes, Fat Replacers, Prebiotics & Probiotics, Dietary Fibers, and Others. Based on Application, the market is segmented into Bakery & confectionery, Beverages, Convenience Foods, Dairy & Frozen Desserts, Spices, Condiments, Sauces & Dressings, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Kerry Group PLC, Novozymes A/S, Archer Daniels Midland Company, International Flavors & Fragrances, Inc., Ingredion, Incorporated, Tate & Lyle PLC, Ajinomoto Co. Inc., Chr. Hansen holding A/S, and Cargill Corporation.
Scope of the Study
Market Segments Covered in the Report:
By Source
- Natural
- Synthetic
By Product
- Sweeteners
- Flavors & Enhancers
- Emulsifiers & Shelf-life Stabilizers
- Enzymes
- Fat Replacers
- Prebiotics & Probiotics
- Dietary Fibers
- Others
By Application
- Bakery & confectionery
- Beverages
- Convenience Foods
- Dairy & Frozen Desserts
- Spices, Condiments, Sauces & Dressings
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- BASF SE
- Kerry Group PLC
- Novozymes A/S
- Archer Daniels Midland Company
- International Flavors & Fragrances, Inc.
- Ingredion, Incorporated
- Tate & Lyle PLC
- Ajinomoto Co. Inc.
- Chr. Hansen holding A/S
- Cargill Corporation
Unique Offerings from the publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Food Additives Market by Source
Chapter 5. LAMEA Food Additives Market by Product
Chapter 6. LAMEA Food Additives Market by Application
Chapter 7. LAMEA Food Additives Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- BASF SE
- Kerry Group PLC
- Novozymes A/S
- Archer Daniels Midland Company
- International Flavors & Fragrances, Inc.
- Ingredion, Incorporated
- Tate & Lyle PLC
- Ajinomoto Co. Inc.
- Chr. Hansen holding A/S
- Cargill Corporation
Methodology
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