Brazil Food Ingredient Market - Segmented by Type, Application, and Geography (2019 - 2024)

Brazil Food Ingredient Market - Segmented by Type, Application, and Geography (2019 - 2024)

  • June 2019 •
  • 107 pages •
  • Report ID: 5790926 •
  • Format: PDF
Market Overview
The Brazilian food ingredients market was valued at USD 17.43 billion and is estimated to be worth USD 23.65 billion by 2024, recording a CAGR of 5.2% during the forecast period. Food ingredients are added to a variety of food products to perform various functions, such as improving overall safety and effectiveness, maintaining the nutritional value of food products, and improving taste, texture, and appearance of the final food product. The demand for synthetic food ingredients from Brazil and other South American countries is declining significantly, as consumers are adopting plant-based food ingredients. Brazilian consumers, especially the millennials, are adopting a healthier and active lifestyle, and thus, there is a significant shift in food preferences, from junk food to more natural and healthier food choices. Consumers are following the labels to get information regarding calories, total fat, cholesterol, sugar, proteins, preservatives, carbohydrate, gluten, and sodium.

Scope of the Report
Brazil is one of the largest countries in the South America region, with natural and organic food products gaining prominence the country. There is a high consumer demand for ingredients, such as fibers, whole grains, dairy ingredients, and proteins among others, as they address specific health concerns, including immune and digestive health.

Key Market Trends
Increasing Demand for Clean Label and Functional Ingredients

With the evolving global food economy, the demand for food products with extra value is increasing significantly. There is a rising preference for food products that are nutritious, cleaner, and natural. As a result, an increasing number of food manufacturers are developing food products that contain natural ingredients, along with minimal processing. Consumers across the Latin American markets are highly concerned about the long-term effects of the food products they consume. This trend toward the authenticity of ingredients is mounting pressure on natural key ingredients suppliers in the market. Furthermore, major manufacturers are focusing on consumer needs and preferences, including the demand for natural products. Brazilian consumers are gaining awareness about nutrition and are adopting an active and healthy lifestyle to prevent chronic ailments. This is expected to boost the demand for natural food ingredients.

Ancient Grains and Seeds Dominate the Market

Ancient grains and seeds, such as quinoa, amaranth, and chia are gaining immense popularity as ingredients among various food product manufacturers. Health and wellness trends, coupled with the popularity of superfood products, are the key factors expected to drive the growth of the market.
These ancient grains and seeds provide a number of health benefits, such as maintaining cholesterol and triglyceride levels, improving blood glucose levels, lowering blood pressure, and others. Furthermore, there are also, gluten-free options available in the ancient grains and seeds category, such as gluten-free chia seeds, gluten-free buckwheat, gluten-free quinoa, and others for those with celiac disease, thus, contributing toward the overall market for the segment in Brazil.

Competitive Landscape
The market studied is fragmented, and includes regional and global competitors. The market is dominated by players, like Cargill Inc., Koninklijke DSM NV, AAK AB, and DuPont. There are various small and medium local players holding a significant share in the market. The leading players in the market studied enjoy a dominant presence across the country. These players focus on leveraging opportunities posed by food industries to expand their product portfolio, in order to cater to the requirements for various product segments under the food industry.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client’s requirements
- 3 months of analyst support

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