Mexico Flavours Market Report and Forecast 2024-2032

Mexico Flavours Market Outlook

The Mexico flavours market  attained a value of about USD 757.09 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 7.7%.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Rising Demand for Natural and Fruit Flavours Boosting the Market Growth for Flavours in Mexico

The rising disposable income and the emergence of the middle class in Mexico are aiding the growth of the flavours industry. As consumers are preferring food and beverages with functional ingredients, the demand for fruit flavours are growing significantly. Fruit flavours are being used in many alcoholic and non-alcoholic beverages as well as in various dairy applications. This is increasing the use of natural flavours, which is invigorating the market growth. Moreover, the increasing popularity of breakfast cereals with fruit flavours, such as banana, blueberry, and pomegranate, among others, is augmenting the market growth. Various health benefits associated with citrus fruits are increasing the use of citrus flavours in many beverages such as sparkling water and energy drinks. This is also propelling the growth of the flavours industry in Mexico.

The growing use of premium products such as sauces and seasonings in various food is propelling the market growth for flavours in Mexico. The increasing preference for innovative and bold flavours among the young population is also augmenting the market growth. The expansion of food chains such as Burger King and Dominos in the country is surging the use of flavours. The advent of food delivery services and quick restaurant services is further increasing the demand for international cuisines, therefore fuelling the market growth for flavours. In addition, the emergence of retail outlets is increasing the demand for convenience and processed food products, which are providing further impetus to the growth of the flavours industry in Mexico.

Flavours: Market Segmentation

Flavours are a distinctive taste of a drink or food that can be used to alter or enhance the flavour of food and beverages product. They can be prepared from essential oils such as lemons and almonds and fruits such as bananas and berries. Flavours are extensively used in the flourishing food and beverages industry.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The major flavouring agent of flavours are:

• Nature Identical Flavouring Substance
• Artificial Flavouring Substance
• Natural Flavours

Based on form, the market is bifurcated into:

• Liquid
• Dry

The market can be broadly categorised on the basis of its applications into:

• Beverage
• Bakery and Confectionery Products
• Dairy and Frozen Desserts
• Savouries and Snacks
• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Globalisation of Dietary Practices to Bolster the Growth of the Flavours Industry in Mexico

The rising demand for exotic cuisines such as Indian, Greek, Korean, and Italian cuisines owing to the globalisation of culinary practices is anticipated to invigorate the market growth. The rising use of botanical and herbal flavours with provenance claims such as hoja santa, epazote, marjoram, lavender, rose, and turmeric in foods and beverages for holistic wellbeing is also propelling the industry growth. Botanical flavours are increasingly used in snacks such as ice-creams and cookies as consumers are preferring ingredients with a plant-based diet and health-enhancement properties.  This has surged significantly due to the coronavirus pandemic as many consumers interrogated the health impact and environmental impact of the food they consumed. This is increasing the demand for natural flavours, hence augmenting the market growth.

The demand for immunity boosting food and beverages is leading the development of various innovative and delicious products in various restaurants. This is increasing the use of various flavours, which is also fuelling the industry growth. Similarly, major companies are developing food products rich with nutrients while providing comfort flavours, consequently propelling the growth of the flavours industry in Mexico. Moreover, the increasing vegan and vegetarian population in Mexico is increasing the demand for plant-based meat substitutes in which flavouring agents are used extensively. This is expected to invigorate the market growth.

Key Industry Players in the Mexico Flavours Market

The report presents a detailed analysis of the following key players in the Mexico flavours market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Givaudan SA
• Kerry Group
• International Flavors & Fragrances Inc.
• Wild Flavours (ADM)
• Tulip Aromatics de México SA de CV
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

View Our Best Selling Reports

Saudi Arabia Structural Steel Market

Europe Freeze-Dried Fruit Products Market

Steel Wire Rope Market

Animal Fat Market

Fulvic Acid Market

Industrial Hemp Market

North America Pallet Market

Saudi Arabia Electric Motors and Transformers Maintenance Market

Latin America Flexible Packaging Market

Electric Cargo Bikes Market

Mexico Flavours Market Report Snapshots

Mexico Flavours Market Size

Mexico Flavours Market Growth

Mexico Flavours Companies