Breakfast Cereals is Expected to be the Fastest Growing Segment during the Forecast Period 2020–2028

 According to a new market research study on “South America Food Inclusions Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Form, and Application,” is expected to reach US$ 1,796.50 million by 2028 from US$ 1,212.30 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the South America food inclusions market along with the drivers and restraints pertaining to the market growth. Wide array of application, enlarging focus towards value addition to achieve product differentiation and ramping demand for functional and healthy food products are the major factor driving the growth of the South America food inclusions market. However, raising production costs of food products and beverages hinder the growth of South America food inclusions market.

Brazil has the highest number of COVID-19 cases, followed by Argentina, Colombia, Peru and Chile. South America's government has taken an array of actions to protect its citizens and contain COVID-19's spread. It is anticipated that South America will face lower export revenues, both from the dropping commodity prices and reduction in export volumes, especially to China, Europe, and the US, which are important trade partners. Containment measures in several South American countries have reduced economic activity in the food & beverages industry for at least the next quarter, with a rebound once the epidemic is contained.

The food inclusions market is segmented based on type, form, application, and country. Based on type, the market is segmented into chocolates, fruit and nuts, flavored sugar and caramels, and others. In 2020, the chocolate segment held the largest share in the market and fruit and nuts is expected to be the fastest growing during the forecast period. Based on form the market is segmented into solid and semi-solid. In 2020, the solid segment held the largest market share and it is also expected to the fastest growing segment over the forecast period. Similarly, on the basis of application the market is segmented into dairy and frozen desserts, bakery products, breakfast cereals, chocolate and confectionery products, and others. In 2020, the bakery products segment accounts for largest market share and breakfast cereals segment is expected to be the fastest growing during the forecast period. Based on country, the market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, the Rest of SAM region held the largest share in the market and Argentina is expected to be the fastest growing during the forecast period

ADM; AGRANA Beteiligungs-AG; Puratos; Barry Callebaut; Cargill, Incorporated; Kerry Group; Georgia Nut Company; Taura Natural Ingredients Ltd.; and Sensient Technologies are among the leading companies in the South America food inclusions market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Barry Callebaut had introduced new dairy-free inclusionss and coatings. Through this they have expanded their dairy-free chocolate portfolio.

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