Food Colorants Market Overview:
According to the research report published by DataM Intelligence, the global food colorants market valued USD 2,194.34 million in 2021 and is expected to grow at a CAGR of 12.4% to reach a market value of USD 3,537.10 million by 2029. The growing food & beverage industry is one of the major factors that boost the market growth exponentially.
Food coloring or color additive is any dye, pigment, or substance that imparts color when added to food or drink. Food coloring is used both in commercial food production and in domestic cooking. Consumers typically associate certain colors with specific flavors, and the color of food can influence the perceived flavor in anything from candy to wine. Thus, an increase in the usage of these products by various end-user industries is expected to drive the market in the forecast period.
Besides, increasing consumer demand for processed foods leads to increase consumption of food colorants. For instance, according to the American Chemical Society (ACS), about 70% of the average US resident’s diet is from processed foods.
However, the FDA’s stringent food standards regulations and several regulatory bodies are expected to be a constraint for manufacturers. Also, natural colorants are expensive and not affordable for most users. Thus, these factors are hindering market growth. Natural food colorants are expected to hold for the highest CAGR of 6.69% during the forecast period.
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Market Drivers:
Natural colorants and flavors are an important part of any food industry. Natural colorants and flavors are used to enhance the overall appearance of food products. The demand for natural ingredients in food products has increased rapidly in recent times.
Several new food products are coming every day with natural food ingredients. Major food manufacturers and retailers around the world have made the availability of natural food and beverage products easy.
Consumers are following the “be natural and go green” policy in food products. Every application in the food and beverage industry, from confectionery, bakery products to alcoholic beverages, is trying to represent itself as natural food application because of the current demand pattern.
Market Restraints:
Branded products are sold at premium prices, and private labeled products are cheaper compared to branded products. This poses a significant challenge to global suppliers and retailers in developing and less developed countries, as consumers are reluctant to pay premium prices for products.
Thus, the entry of low-priced and private label products is a major challenge for the growth of the global natural food colors market.
Market Segmentation:
By Type:
- Natural
- Synthetic
By Form:
- Powder
- Liquid
- Gel & paste
By Application:
- Food (Dairy food, Bakery items, Seafood)
- Beverages (Alcoholic, Non- alcoholic)
- Cosmetics
- Pharmaceuticals
Geography Segmentation:
The global market is classified into five regions such as;
- North America
- Asia Pacific
- Latin America
- Europe
- Middle East and Africa
- Rest of the world
Regional Analysis
North America Food Colorant Market:
North America is the global market leader as it holds the maximum share of the total food colorant market. The growing demand for nutrition-based and premium products will propel the market growth during the forecast period. The markets in the US and Brazil are some of the strongest markets in the Americas. Mexico is an emerging market in the region. The regular introduction of new varieties of pet food is the main driver in the market in the Americas.
The U.S dominated the North American food colorants market with a market revenue share of 79% in 2019. The stringent norms for food colorants in the United States are primarily due to the increasing incidences of foodborne illness and increasing demand for safe food products, free from obnoxious food additives.
Asia Pacific Food Colorant Market:
APAC is the fastest-growing region in terms of revenue. Japan is the largest market in Asia. Double-digit growth is anticipated in China and India during the forecast period. The growth in APAC is fueled by the growing working-class population, which is gradually becoming more affluent and is seeking out packaged pet food.
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Competitive Analysis and Major Companies Controlling the global market:
Cargill Incorporated, BASF SE, Koninklijke DSM N.V., DDW The Colour House, Hansen Holding A/S, GNT Group, Naturex, Lycored, San-Ei Gen F.F.I., Inc., Sensient Colors LLC, Sethness Caramel Color, and others.
Why Purchase the Report?
- Visualize the composition of the Food Colorants market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.
- Identify commercial opportunities in the Food Colorants market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the Food Colorants market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key products of all major market players.
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