Vinegar Market in Latin America: Key market research findings
- Use of vinegar as food dressing to boost prospects for growth
- Balsamic vinegar to account for a majority of the market’s revenue
- Key vendors – Acetificio Mengazzoli, Acetum, Kraft Heinz, and Ponti
Technavio’s market research analysts expect the vinegar market in Latin America to grow at a CAGR of almost 8% between 2016 and 2020. The increasing use of vinegar as a food dressing and in the preparation of sauces will augment its demand in Latin America. The growing number of health-conscious people who prefer healthy food products like salads will raise the demand for dressings, which in turn will boost sales in the market. Furthermore, the launch of preservative-free, organic products is also expected to have a positive impact on the growth of this market.
The new market research report from Technavio presents a breakdown and analysis of vinegar segments based on the product.
“At present, the demand for vinaigrette in the market is witnessing an upsurge. Vinaigrette is a mixture of oil and vinegar or lemon juice, with spices, herbs, or salt added to it for taste enhancement. In Latin America, it is extensively used as a salad dressing and marinade. The growth of the health-conscious segment of the population in the region is spurring the demand for vinaigrette, which is subsequently fueling the prospects for growth in the market,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
The balsamic vinegar segment accounted for more than 52% of the overall market share to become the dominant revenue generator in the vinegar market in Latin America. Balsamic vinegar is made from the concentrated juice of white grapes, mainly Trebbiano, and are aromatic by nature. They have a relatively long shelf life and can be stored in closed containers. The increased use of balsamic vinegar across a wide variety of cuisines is expected to fuel the growth of the balsamic vinegar market in Latin America by 2020.
The key vendors in the vinegar market in Latin America are Acetificio Mengazzoli, Acetum, Kraft Heinz, and Ponti. This market is highly fragmented because of the presence of numerous small and large vendors who compete with each other on factors such as price, quality, product differentiation, distribution, and promotion. Intense competition prevails in the market owing to technological innovations and innovative product offerings. The vendors in the market have immense growth opportunities due to the rapidly changing consumer demand and preferences.
A more detailed analysis is available in the Technavio report, Vinegar Market in Latin America 2016-2020.
We can customize reports by other regions and specific segments upon request.
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