The new report by Expert Market Research titled, ‘Brazil Flavours Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Brazil favours market, assessing the market based on its segments like flavouring agents, applications, and forms. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 6.50%
The market for flavours in Brazil is being driven by an increase in demand for natural flavours as people are becoming more health conscious. With the growing trend towards clean-label products, natural herbs and spices are seeing increased growth in the food and beverage industry. The demand for exotic fruits in beverages such as smoothies and juices is growing, thus extending Brazil’s flavour market. Apart from that, due to influencing factors such as the adoption of healthy diets, awareness of clean-label products, and convenience foods, the demand for vegetable-based products is increasing in the Brazilian market. Additionally, the market is growing due to a steady demand for natural flavours derived from fruits and vegetables, with long shelf lives.
Industry Definition and Major Segments
Flavour is a sensory impression of a meal or other item that is mostly determined by the chemical senses of taste and smell. Taste is sometimes determined by the ‘trigeminal senses,’ which detect chemical irritants in the mouth and throat.
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The major flavouring agents of the Brazil flavours market are:
• Nature Identical Flavouring Substance
• Artificial Flavouring Substance
• Natural Flavours
The market can be broadly categorised on the basis of its applications into:
• Beverages
• Bakery and Confectionery Products
• Dairy and Frozen Desserts
• Savouries and Snacks
• Others
The market based on its form can be classified as:
• Liquid
• Dry
Market Trends
With the introduction of new and creative flavours to fulfil increased consumer demand, Brazil’s flavour market is rapidly expanding. Consumers are becoming more interested in unusual flavours such as honey-mustard potato chips and guava ketchup. As a result, flavour experiments are important trends that are driving the market forward. Furthermore, expanding worldwide exposure and social media influence are two elements that are boosting demand for international flavours like Asian and Italian. As a result of the COVID-19 pandemic, the market growth can also be attributed to trends surrounding home-cooked meals. As a result, demand for unique flavours is propelling the market forward.
Key Market Players
The major players in the market are Givaudan SA, Firmenich SA., International Flavors & Fragrances Inc., Archer Daniels Midland Company, Synergy Flavors Inc., and DUAS RODAS among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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