At 5.8% CAGR, the South & Central America Powdered Flavors Market is Projected to be Worth US$ 1,546.82 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the South & Central America powdered flavors market was valued at US$ 988.74 million in 2022 and is expected to reach US$ 1,546.82 million by 2030, registering a CAGR of 5.8% from 2022 to 2030. Advantages of powder flavors and wide application of powdered flavors are among the critical factors attributed to the South & Central America powdered flavors market expansion.             

Global consumers are becoming highly concerned about the food they consume, owing to which they are paying more attention to the product labels and the ingredients used in processed food products. The preference for 100% natural and simple ingredients has increased, compelling manufacturers to launch ingredients with clean-label claims. Organic food products are becoming increasingly popular owing to their perceived health benefits. Ingredients in organic products come from organically certified farms that follow strict farming practices. Organic products are free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs), increasing their appeal among consumers, who are ready to pay high prices. Manufacturers are launching products with organic, non-GMO (genetically modified organisms), and 100% natural claims to fulfill the changing requirements of consumers. In July 2022, Symrise also unveiled blueberry ingredients and active compounds in powder, flakes, and certified organic extracts that can be used as a flavoring agent in baked goods, ice creams, beverages, dietary supplements, and baby food.

Consumers are rapidly shifting toward vegan food due to rising health concerns related to animal-origin food and the perceived health benefits of plant-based food. Vegetarianism and veganism are on the rise across the globe as consumers are cutting down their meat and dairy intake and preferring products with 100% plant-based ingredients. Thus, constant product innovations, a rising preference for vegan food, and the growing popularity of organic and all-natural products are expected to accelerate market growth.

On the contrary, increasing concerns related to synthetic food flavorings hampers on the growth of South & Central America powdered flavors market. 

Based on type, the South & Central America powdered flavors market is segmented into sweet, savory, and others. The savory segment held 59.3% market share in 2022, amassing US$ 585.99 million. It is projected to garner US$ 941.88 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Based on category, the South & Central America powdered flavors market is divided into natural and synthetic. The synthetic segment held 66.5% share of South & Central America powdered flavors market in 2022, amassing US$ 657.90 million. It is projected to garner US$ 1,007.11 million by 2030 to expand at 5.5% CAGR during 2022–2030.

Based on application, the South & Central America powdered flavors market is segmented into bakery and confectionery; dairy and frozen desserts; soups, sauces, and dressings; meat and meat substitute products; snacks and RTE meals; nutritional supplements; and others. The snacks and RTE meals segment held 28.3% share of South & Central America powdered flavors market in 2022, amassing US$ 279.47 million. It is projected to garner US$ 456.74 million by 2030 to expand at 6.3% CAGR during 2022–2030.

Based on country, the South & Central America powdered flavors market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 52.4% share of South & Central America powdered flavors market in 2022. It was assessed at US$ 518.00 million in 2022 and is likely to hit US$ 786.25 million by 2030, exhibiting a CAGR of 5.4% during 2022–2030.            

Key players operating in the South & Central America powdered flavors market are Bell Flavors & Fragrances Inc, Flavorchem Corp, Gold Coast Ingredients Inc, Robertet SA, Symrise AG, and Synergy Flavours Ltd, among others.

• In 2023, Bell Flavors & Fragrances’ Technology and Innovation Center Advances Strategic Developments in Clean Label Flavors.

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