Market Analysis
The Food & Beverage Industry has been growing exponentially due to the advancements in food, ongoing development of new food trends and the rapidly growing population of which, a majority live in urban areas. With rapid urbanization, consumer preferences have shifted toward convenient food that is easily available and quicky to prepare or ready to eat. Inadvertently, these food products and beverages are mass produced and use food color ingredients in order to maintain consistency in the end product. In some developed countries, companies are using naturally sourced food color ingredients in innovative products to attract consumers.
Consumers have increasingly been displaying a preference for healthy food products and often prefer products that contain natural food color ingredients. The trend has been supported and bolstered by various social media accounts dedicated to developing food content. These accounts promote the use of natural vegetables and fruit for color in various recipes such as the use of dragonfruit powder for a vibrant pink color in pasta. Such innovative uses of natural color are expected to offer opportunities for market expansion. Bad press associated with synthetic food colorings are expected to hamper the growth of the market, however, for the mass production of beverages and food products, food color must be used to maintain consistency, and as such, the growth of the industry is expected to remain steady.
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Major Key Players
Prominent players in the market, who have been included in the report and analyzed for their market strategies and their effect on the market include
- DSM,
- Sensient Technologies Corporation,
- Sethness Products,
- Naturex, GNT Group,
- San-Ei Gen F.F.I. Inc,
- Roha Dyechem,
- Chr. Hansen,
- Wild,
- DD Williamson,
- Lyco Red
- Fiorio Colori
Latest Industry News:
Givaudan, a global flavors & fragrance company, has acquired 40.5% stake in Naturex and has revealed plans to tender an offer for all remaining outstanding shares of Naturex.
LycoRed has appointed Etgar Levy Nissenbaum as the new senior vice president of global research and development.
Market Segmentation
The Global Food Color Market has been segmented on the basis of origin, source, form, application, and region. By origin, the market has been segmented into plant, animal, and minerals & petrochemicals. By source, the market has been segmented into floral extracts, fruits, vegetables, plant leaf extracts & phytoplankton, wood extracts, animal sources, mineral sources & petrochemical sources. By form, the market has been segmented into liquid, powder, gels, and pastes. By application, the market has been segmented into confectionery, bakery products, sauces & seasonings, meat & fish products, dairy products and pharmaceuticals.
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Regional Analysis
North America and Europe both have significant shares of the global market as well as a similar consumption and growth pattern. The food & beverage industry in these regions is well developed and constantly evolving to reflect current consumer preferences. The trend for “unicorn,” “mermaid” and “rainbow” themed food items has been going strong in these regions and encouraging growth for the food color ingredient market.
Meanwhile, the Asia-Pacific is expected to witness considerable growth during the forecast period due to the rapid urbanization in the region which has prompted the higher production of convenient food products. The trend for healthy eating and preference for naturally colored food items is expected to propel growth for the region in the coming years.
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