South America Food Inclusions Market

Market Introduction

The food inclusions market in South America is sub segmented into Brazil, Argentina, and the Rest of South America. The rise in the expenditure on convenience food products and the increase in disposable income are driving the food inclusions market growth in South America. The demand for bakery products such as pastry, bread, and biscuits made with food inclusions (such as fruits and nuts) is driven by the nutritional profile, and convenience and accessibility of these inclusions. In addition, an increase in urbanization and working population in South America is propelling the demand for convenience and on the go food, which sometimes contains food inclusions. Growing industrialization, triggering the food production business, and changing food habits of consumers, bolstering the demand for food with specific flavors and textures, are propelling the sales of food inclusions in South America.

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.

Market Overview and Dynamics

The food inclusions market in South America is expected to grow from US$ 1,212.30 million in 2021 to US$ 1,796.50 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. Changing consumer preference has always been major factor influencing the food & beverages industry. Continuous shifts in consumer preferences are propelling food manufacturers to introduce gluten-free, organic, dairy-free, and vegan diets products that meet dietary needs of various consumers. Further, the growing trend of veganism, especially in the western countries, is a major consumer trend influencing the growth of food inclusions market. According to data cited by the Sainsbury’s Future of Food report, the vegan and vegetarian population is expected to account for a quarter of the global population by 2025. Vegans and several flexitarians are opting for non-dairy products, such as plant-based ice creams and yogurts, which, in turn, is boosting the demand for non-dairy/plant-based food inclusions such as nuts, seeds, and fruits. Further, the rise in the prevalence of celiac diseases is driving a shift in consumer preference toward gluten-free products. According to data cited by The Institute for Functional Medicine, based on their 2020 meta-analysis, there has been an increase in the incidence of celiac disease by an average of 7.5% per year in the past decades. Thus, to cater to the rising demand for gluten-free products, food manufacturers are focusing on incorporating gluten-free food inclusions in their products. Thus, changing consumer preferences are giving rise to several key trends that are bound to affect the food inclusions market growth in the coming years.

Key Market Segments

In terms of type, the chocolate segment accounted for the largest share of the South America food inclusions market in 2020. In term of form, the solid segment held a larger market share of the food inclusions market in 2020. Further, the bakery products segment held a larger share of the market based on application in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the food inclusions market in South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ADM; AGRANA Beteiligungs-AG; Puratos; Barry Callebaut; Cargill, Incorporated; Kerry Group; Georgia Nut Company; Taura Natural Ingredients Ltd.; and Sensient Technologies among others.

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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form South America food inclusions market
• Obtain market revenue forecast for market by various segments from 2021-2028 in South America region.

South America Food Inclusions Market Segmentation

South America Food Inclusions Market – By Type

• Chocolates
• Fruit and Nuts
• Flavored Sugar and Caramels
• Others

South America Food Inclusions Market – By Form

• Solid
• Semi-Solid

South America Food Inclusions Market – By Application

• Dairy and Frozen Desserts
• Bakery Products
• Breakfast Cereals
• Chocolate and Confectionery Products
• Others

South America Food Inclusions Market – By Country

• Brazil
• Argentina
• Rest of SAM

South America Food Inclusions Market – Companies Mentioned

• ADM                                                     
• AGRANA Beteiligungs-AG                  
• Puratos                                                  
• Barry Callebaut                                     
• Cargill, Incorporated.                          
• Kerry Group                                           
• Georgia Nut Company                         
• Taura Natural Ingredients Ltd            
• Sensient Technologies                          

South America Food Inclusions Market Strategic Insights

South America Food Inclusions Market Report Highlights

South America Food Inclusions Market Country and Regional Insights