The Latin America, Middle East and Africa Flavor Drops Market would witness market growth of 10.2% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA Others Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $259.3 Thousands by 2030. The Argentina market is showcasing a CAGR of 12.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 11.7% during (2023 - 2030).
These drops are used in livestock feed, including feed for cattle, poultry, swine, and other farm animals. By adding flavors such as molasses, fruit extracts, or other natural flavors to feed, producers can improve the taste and aroma of the feed, making it more appealing to animals and potentially increasing feed intake. The increasing animal feed industry translates into higher demand for these drops.
Innovation catalyzes the expansion and development of the market, as manufacturers consistently introduce fresh products, formulations, and technologies to address changing consumer demands and market dynamics. For instance, these drops with added functional ingredients, such as vitamins, minerals, antioxidants, and adaptogens, are gaining demand among consumers seeking added nutritional benefits. Functional drops offer targeted health and wellness benefits, such as immune support, stress relief, energy enhancement, and cognitive function improvement, catering to the growing demand for functional foods and beverages.
According to the United States Department of Agriculture, in 2021, the United Arab Emirates (UAE) was the second-largest food service industry in the Arab Gulf Cooperation Council (GCC) region. The total value of the UAE’s hotel, restaurant, and institutional sector amounted to $12.3 billion, marking a substantial increase of nearly 17 percent compared to the figures recorded in 2020. Similarly, According to the United States Department of Agriculture, in Brazil, supermarket revenues reached US$134.8 billion in 2022. Brazil’s food retail sector includes 94,706 stores and serves 28 million consumers daily. Southeastern region of Brazil has the maximum share of the retail industry, with 50.3 percent of the market or 7,046 stores. The second largest region was the south, with 26 percent of the market and 1,835 stores. Hence, the growing food retail and increasing food service industries in the region drive the market’s growth.
Free Valuable Insights: The Worldwide Flavor Drops Market is Projected to reach USD 143.1 Million by 2030, at a CAGR of 8.3%
Based on Content Type, the market is segmented into Regular, and Sugar Free. Based on Nature, the market is segmented into Conventional, and Organic. Based on Flavor Type, the market is segmented into Fruit, Tea-Coffee, Chocolate, Lemon, Vanilla, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Content Type
By Nature
By Flavor Type
By Country
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