Brazil Food Ingredient Market - Forecast(2023 - 2028)

Brazil Food Ingredient Market size is projected to reach $1,640 million by 2026, growing at a CAGR of 4.8% over 2021-2026. Food additives are substances that are added in food for various functional purposes such as maintaining freshness, nutritional value, taste and texture. Food ingredients provide a wide range of application that becomes an essential component in the food and beverage industry. There are various type of food ingredients such as natural sweetener, functional ingredients, natural flavorings, starches, vegetable oils and many more. Innovation in food and beverage industry generated numerous opportunities for new product development in the Food Ingredients market. The rising adoption of modern lifestyle increases the demand of healthy convenient foods, changing consumption pattern and growing food borne disease is the major factor driving the growth of Brazil Food Ingredient Market. In Brazil, the food and beverage industry rapidly increasing owing to rising trends of consuming variety of ingredients in food that increases the production of food ingredients. Furthermore, adoption of new techniques in food and beverage sector such as encapsulation, fermentation and instant solubility, growing research activities are set to further enhance the overall market demand for Brazil Food Ingredient Market for the period 2021-2026.   

The report: “Brazil Food Ingredient Market Estimate (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Brazil Food Ingredient Market. 

By Type: Functional Food Ingredients, and Sensory Food Ingredients

By Application: Bakery Products, Beverages, Meat, Poultry, Dairy Products, Others

Based on Type Brazil Food Ingredient Market can be further segmented into Functional Food Ingredients, and Sensory Food Ingredients. The Functional Food Ingredients segment hold the major share in 2020. This is mainly owing to increasing demand of healthy foods with high nutritional value. Moreover, functional food ingredients contains antioxidants, antimicrobials, vitamins, probiotics and proteins that helps to enhance the health and reducing the risk of various diseases by lowering the cholesterol level and rising fiber levels. The Sensory Food Ingredients segment is estimated to register the fastest CAGR of 5.7% for the period 2021-2026. Sensory Food Ingredients include flavors & fragrances, sweeteners, texturants, food colors, enzymes, cultures that helps in enhancing the taste, texture, color and flavor in food. Moreover, it is widely available in market with a cheaper rate that increases the adoption of sensory food ingredients products among consumers which in turn boosting the growth of Brazil Food Ingredient Market. 

Based on Application Brazil Food Ingredient Market can be further segmented into Bakery Products, Beverages, Meat, Poultry, Dairy Products, Others. The Beverage segment recorded for the highest Brazil Food Ingredient market share in 2020. This is mainly owing to the growing consumption of energy drinks, flavored beer, canned juices etc. as various flavours are added in these beverages that help to enhance the taste which creates excitement among consumers and hence rising the adoption of food ingredients in beverages. The Bakery Products segment is forecasted to register the fastest CAGR of 6.1% over 2021-2026. This is mainly owing to growing consumption of packaged baked goods such as bread, cakes pies, rolls, pastries, cookies, crackers, and pretzels. Moreover, bakery industry is providing unique pair of flavors such as sweet and savory that attracts various consumers to adopt bakery products that are driving the growth of Brazil Food Ingredient Market. 

The demand of healthy convenience foods is increasing owing to rising consciousness about health among young population which is a major factor that is increasing the growth of Brazil Food Ingredient Market. The rising demand of convenient and premium foods is boosting the innovation in the food and beverage sector. Moreover, changing lifestyle and consumption pattern among consumers increases the demand of beverage meal replacements and ready to eat foods which in turn boosting the growth of the Brazil Food Ingredient Market over 2021-2026.    

Rising technological advancement in food and beverage industry helps food ingredients manufacturers to produce better varieties of products are driving the growth of Brazil Food Ingredient Market. Moreover, manufacturers are using various advanced technologies include encapsulation, fermentation and instant solubility that helps to develop innovative ingredients that are used in food which are propelling the growth of Brazil Food Ingredient Market over the period 2021-2026.   

COVID-19 pandemic had greatly affected the growth of Brazil Food Ingredient Market. During pandemic, the sales of food products decreases owing to lockdown. Moreover, the production in food and beverage industry also declined owing to less number of manpower in production that are negatively impacted the growth of Brazil Food Ingredient Market.   

The factors that is set to impede the growth of the Brazil Food Ingredient Market are the rising stringent regulation regarding the manufacturing processes of food ingredients. Moreover, there is a delay in launching new products by the manufacturer owing to various process of regulatory approval in food and beverage industry are set to create hurdles for the Brazil Food Ingredient Market.   

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Brazil Food Ingredient Market. Brazil Food Ingredient top 10 companies are AngelYeast Co., Ltd., Archer Daniels Midland Company, Arla Foods amba, Associated Milk Producers, Inc., Bunge Limited, Cargill, Inc., Fonterra Co-operative Group Limited, Givaudan SA, Glanbia Plc, Ingredion Incorporated, Kerry Group Plc, and Koninklijke DSM N.V.