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Technavio’s market research analyst predicts the vinegar market in Latin America to grow at a CAGR of more than 7% by 2020. Vinegar contains essential nutrients that are necessary for digestion, energy production, and food metabolism. Growing interest in cooking various foreign cuisines has led to the purchase of different types of dressings, which comprise vinegar as an essential ingredient. Low prices, ease of use, and convenient packaging have boosted consumer interest in both vinegar and products containing vinegar as an ingredient. With new flavors and ingredients being used in sauces and dressings, the demand for vinegar will witness a massive increase in the coming years. Some of the popular vinegar flavors in Latin America are apple, herbs, and tarragon. Flavored vinegar is used to create new tastes, and each flavor is intended for different meat, produce, and cheese uses. Recently, Opemec has launched Pianello blueberry flavor under balsamic vinegar.
South America dominates the vinegar market in Latin America and is expected to occupy more than 93% of the overall market share by 2020. Vinegar is an important part of South American cuisine and is mainly used in making salad dressings. An important factor driving the growth of vinegar products in the region is the increasing import and export of vinegar products. Brazil, Mexico, and Argentina are the highest revenue-generating countries in the South American vinegar market.
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. Vendors in the market have immense growth opportunities due to the rapidly changing consumer demand and preferences.
Leading vendors in the market include -
Other prominent vendors in the vinegar market in Latin America are Acetificio Marcello De Nigris, Aspall, Carl Kuhne, Castelo Alimentos, Charbonneaux-Brabant, Marukan Vinegar, Porta Hnos, Pristine, Productos Lux, Reinhart Foods, and Vinaigrerie Gingras.
Balsamic vinegar accounted for around 52% of the overall market share in 2015 and is expected to continue its dominance during the forecast period. Balsamic vinegar has a long shelf life and are stored in closed containers, and do not require refrigeration which makes them a preferred choice in various cuisines. Balsamic vinegar is extensively used in the preparation of Colombian desserts which are an essential part of the South American cuisine.
In 2015, the vinegar market in Latin America was dominated by supermarkets and hypermarkets in terms of distribution which accounted for more than 66% of the overall market revenue. The penetration rate of supermarkets and hypermarkets is increasing in the Latin American countries especially Brazil owing to the vast availability of products in these channels. Consumers have more choices and options in these stores which have made them a preferred distribution channel.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by distribution channel
PART 08: Geographical segmentation
PART 09: Key leading countries
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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