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Brazil Food Ingredient Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Brazil Food Ingredient Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • March 2021
  • 130 pages
  • ID: 6039471
  • Format: PDF
  • Mordor Intelligence LLP

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The Brazil Food Ingredient Market is projected to reach USD 23,150.3 million in 2026, growing at a CAGR of 1.18% during the forecast period (2021 - 2026).

- The COVID-19 pandemic transformed the way consumer eat, and increased the consumers’ desire to know where their food comes from, while food affordability was a greater concern before purchase. The speculations about the demand for food ingredients affected companies like Kerry that laid off about 8 % of its workforce in Brazil due to the coronavirus outbreak. Although the country did not record major food shortages and food supply disruption, the increase in food prices caused certain segments of the population to face food insecurity.
- 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.
- As per the report published by USDA, the Brazilian Health Regulatory Agency (ANVISA) is revising the current nutritional labeling legislation. The objective is to make nutritional data on labels more visible and readable. Therefore, although consumers continue to be price-sensitive and more careful with food purchases, premium products and ingredients with competitive prices, more differentiation, and perceived added value still have a competitive advantage.

Key Market Trends
Growing Demand for Natural Food Colorants

With increasing preference for clean label products, the demand for natural colors is expected to increase exponentially during the forecast period. Although natural colors are safer, they have a few fictional issues, like consistency. This production of such colors involve high production costs and lack of raw material availability. Natural colorants have varied applications in functional foods. Food colors find application in many processed foods including candies, snack foods, margarine, cheese, soft drinks, jams/jellies, gelatins, pudding, and pie fillings. The main constraint of the industry is the high cost of production, chemical instability due to fluctuating temperature/pH conditions and increased regulations. Paprika is a natural food color that is ground, and is made from the chili peppers (capsicum). It is used as a garnish in many recipes to create vibrant colors. WILD Flavors and Specialty Ingredients offers a line of natural food and beverage colors, Colors from Nature . These colors provide a natural, heat and light-stable product with appealing color hues.

Health and Wellness Trend to Uplift Ingredients Value Sales

nHealth is a key driver in Brazil, with increasing rates of obesity, diabetes, and heart disease leading consumers toward more natural, healthy, and organic products. The Brazilian Institute of Geography and Statistics, about 1 in every 4 Brazilian was obese in 2019. Moreover, the shifting demographics of thecountry, which is aging rapidly with falling birth rates and increasing life expectancy, is pushing consumers to be more proactive toward their health. With the rise in health consciousness, consumers are pivoting their interest from carbs to protein-based diets. A recent survey commissioned by Arla Foods Ingredients found that nearly two-thirds of South Americans would be willing to pay extra for food or beverage products that are higher in protein, presenting a clear market opportunity for ingredients suppliers. The survey projected Brazil as the second most prominent country in the region, with about 60% consumers stating to have willingness to spend more for health-oriented food products. Hence, the shift propelled by consumers, food manufacturers, and governing bodies toward a healthier ingredients is anticipated to boost the value sales of the market, considering the higher relative cost of value-added ingredients than conventional.

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. 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.

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