Based on a report published by Grand View Research, Inc.; the global food colors market is projected to reach around USD 2.97 billion by 2025. Increasing demand for food and beverages due to growing global population is the primary market driver. High demand for colored foods due to their better visual appearance is also anticipated to propel the global market over the forecast period (2018 to 2025).
Continuous product innovation and supportive government regulations are anticipated to further propel market expansion in the forthcoming years. In addition, rising disposable incomes, changing lifestyles, and consumer preference for high-quality products owing to rapid urbanization are expected to create positive outlook for the market.
Rise in demand for dairy products, bakery and confectionary products, and beverages can drive the global market for food colors. High demand for processed and convenience food owing to consumer awareness regarding products with exotic taste is expected to boost the market in the years to come. In addition, demand for low-fat food and growing utilization in canned products are also projected to support market growth.
Full Research Report On Food Colors Market Analysis: https://www.grandviewresearch.com/industry-analysis/food-colorants-market
The worldwide food colors market can be segmented on the basis of product, application, and region. As per product, the market can be categorized into natural, synthetic, natural-identical, and others. The natural segment is expected to be the largest segment and is anticipated to reach USD 2.50 billion by 2025. Increasing consumer awareness about health benefits of natural ingredients is anticipated to drive growth over the forecast period.
The synthetic segment is expected to witness steady growth due to increasing adoption across developing countries. Demand for green and blue synthetic colors is expected to be high owing to adoption in beverage manufacturing. However, increasing use of natural colors is likely to hamper growth in years to come.
Based on application, the market for food colors can be split into dairy food, non-dairy Food, Carbonated Soft Drinks (CSD) and non-alcoholic beverages, and alcoholic beverages. The non-dairy food segment estimated to hold the largest market share in near future due to rising applications in sauces and salad dressings, bakery products, desserts, and chocolates. Increasing use of food coloring in processed meat industry to improve product aesthetics is projected to support market growth over the forecast period.
CSD and non-alcoholic beverages segment is expected to exhibit the highest CAGR of around 6.4% during the forecast period. This growth can be associated with rising disposable income. Additionally, high demand for ready-to-drink beverages is likely to further drive the product demand.
Geographically, the market for food colors can be divided into North America, Europe, Asia Pacific, Central and South America, and Middle East and Africa. Europe is expected to showcase significant growth over the forecast period due to flourishing bakery and confectionery industry and increasing consumer demand.
View More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
In addition, strict guidelines regarding use of artificial food colors is likely to drive demand for natural colors. In recent years, governments of Germany and Spain have successfully executed many campaigns to spread awareness about healthy lifestyles. Awareness drives and launch of healthy products for reducing cholesterol, obesity, and diabetes are expected to boost regional demand for natural colors.
Asia Pacific is expected to exhibit high growth on account of growing food and beverage industry. Increasing use in alcoholic and non-alcoholic beverages can support the regional market growth over the forecast period. Adoption of natural-identical products is also high in this region due to its low costs and superior and uniform color properties.
Major companies operating in the food colors market include SAN-EI GEN F.F.I. INC; Cargill; BASF; Danisco; and Sensient Technologies Corporation. Most companies are expected to invest heavily in research and development (R&D) to launch new products with better thermal and pH stability. Competition in the market is mainly based on product quality and price. Presence of established players and their wide range of offering has led to high entry barrier for new players.
Additionally, high trading cost for buyers has made it difficult for new participants to gain market share. Increasing concerns among consumers about the adoption of natural carmine extracted from cochineal insects has encouraged manufactures to search for other substitutes. Hence, manufacturers like Chr. Hansen is trying to produce it through fermentation and without the bugs.
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