DUBLIN--(BUSINESS WIRE)--The "Brazil Food Ingredient Market - Segmented by Type, Application and Geography (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
In 2017, the Brazil Food Ingredient market was valued at USD 16.57 billion the market is expected to reach USD 22.48 billion by 2023, registering a CAGR of 5.2% over the forecast period 2018-2023.
MORE PROCESSED FOODS = Increased Demand for FOOD INGREDIENT
Increased incomes and changing food consumption pattern are accelerating the Brazilian processed food sector. Moreover, the growing demand for specialty and functional food ingredient has boosted the market growth.
Moreover, expanding processed food sector and rising health awareness, among consumers, are the major driving factors of the market; however, the fluctuating Brazilian economic condition is a restraint, as it is affecting the food ingredients' prices.
The natural food ingredient accounts for one-third of the total food & beverage ingredients market in the country. Natural and organic products are driving the market growth, owing to their various health benefits, environmental concern, and sustainable source of production.
The Brazilian functional food products market is growing at a great pace, owing to the products' several health benefits. Weak Brazilian currency value and high inflation rate, along with the uncertain political atmosphere, have affected the food ingredient market. Farmers are getting high prices to export, thus, increasing the prices of domestic food ingredients.
CLEAN LABEL DRIVING THE MARKET
The rising concerns, regarding adverse health effects of synthetic ingredients, are alarming the food product manufacturers. Despite the downturn economy, consumers do prefer to purchase products containing natural ingredients.
Many consumers are conscious about product labels and check information like calories, total fat, cholesterol, sugar, protein, preservatives and acidulants, carbohydrates, gluten, and sodium. The clean label product sale has increased from 16% in 2010 to 36% in 2014 in the country.
By product type, proteins are expected to be the fastest growing segment over the forecast period, while ancient grains and cereals are expected to be the largest revenue generating segment, closely followed by edible oils.
Cargill, one of the global ingredient suppliers, joined hands with major domestic players for sugar production, thus increasing the market share in Brazil. Many companies from Europe and the United States have strong ties with local distributors, and traders, which help them sell products to local sellers.
Other prominent players in food ingredient market include:
- CP Kelko
- Tale and Lye
- FMC Corporation
Notable Market Developments
- Major companies, such as Cargill, ADM, Kerry Group, are focusing on developing natural food additives & ingredients to meet the market demand.
- Cargill acquired SGS Micro Ingredients, to expand industrial oil business in Brazil.
- W Hydrocolloids acquired Kerry Seaweed processing plant, to expand its presence in food additives market in Brazil.
1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definitions
1.4 Research Approach and Methodology
2. Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness - Porter's Five Forces Analysis
3. Market Dynamics
4. Market Segmentation
4.1 By Type
4.1.1 Ancient Grains and Seeds
4.1.3 Seasoning and Spices
4.1.4 Sweeteners and Sweetening Solutions
4.1.5 Edible Oils
4.1.6 Dried Fruits and Vegetables
4.1.8 Acidulants and Emulsifiers
4.1.9 Flavors, Flavor Enhancers and Colorants
4.2 By Application
4.2.4 Snacks and Savory
4.2.5 Meat and Meat Products
4.2.6 Other Applications
5. Competitive Landscape
5.1 Strategy Adopted by Key players
5.2 Most Active Companies in The Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 Olam International
6.2 Cargill Incorporated
6.3 Koninklijke DSM N.V.
6.4 AAK AB
6.5 Sensient Technologies
6.6 Dow-DuPont Inc.
6.7 Ingredion Incorporated
6.8 Archer Daniels Midland Company
6.10 Tate & Lyle
6.11 Associated British Foods PLC
For more information about this report visit https://www.researchandmarkets.com/research/27765x/brazilian_food?w=4