According to the report by Expert Market Research (EMR), the Mexico flavours market is projected to grow at a CAGR of 7.7% between 2024 and 2032. Aided by the burgeoning food and beverage industry and the deep-rooted culinary traditions, the market is expected to grow significantly by 2032.
The Mexican flavours market is a kaleidoscope of vibrant tastes and aromas, deeply embedded in the country’s rich culinary heritage. From spicy and tangy to sweet and savoury, the flavours of Mexico are as diverse as they are intense. These flavours are not just limited to traditional Mexican cuisine but have also found their way into a multitude of food and beverage products, both within the country and globally.
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One of the primary drivers of the Mexico flavours market growth is the increasing consumer preference for authentic and ethnic flavours. With globalisation and cultural exchanges, there is a growing fascination for Mexican cuisine worldwide. This has led to an upsurge in demand for Mexican flavours in international markets, fuelling the market growth.
Furthermore, the rise in health consciousness among consumers has had a significant impact on the Mexico flavours market outlook. There is a growing demand for natural and organic flavourings, with consumers increasingly wary of synthetic additives. This shift in consumer preference has prompted manufacturers to explore natural sources of flavours and invest in research and development to develop clean-label products, thereby contributing to the market growth.
The food and beverage industry in Mexico is a major contributor to the flavours market. The sector’s continuous innovation in product offerings, coupled with the increasing demand for convenience foods, has spurred the growth of the flavours market. Processed foods, snacks, beverages, and dairy products are some of the key segments where Mexican flavours are extensively used.
The trend of fusion cuisines has also boosted the Mexico flavours market demand. The blend of Mexican flavours with other international cuisines has led to the creation of unique and exotic food products, catering to the evolving palates of consumers. This fusion trend has opened new avenues for the flavours market, with manufacturers experimenting with a combination of traditional and contemporary flavours.
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Mexico Flavours Market Segmentation
The market can be divided based on flavouring agent, form, and application.
Market Breakup by Flavouring Agent
- Nature Identical Flavouring Substance
- Artificial Flavouring Substance
- Natural Flavours
Market Breakup by Form
- Liquid
- Dry
Market Breakup by Application
- Beverage
- Bakery and Confectionery Products
- Dairy and Frozen Desserts
- Savouries and Snacks
- 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 Mexico flavours market. Some of the major players explored in the report by Expert Market Research are as follows:
- Givaudan SA
- Kerry Group
- International Flavors & Fragrances Inc.
- Wild Flavours (ADM)
- Tulip Aromatics de México SA de CV
- Others
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