Food Colorants Market Overview:
Food colorants are additives used to impart permanent colors on foods and beverages. Consumption of processed foods is likely to elicit a large volume of these chemicals by manufacturers. The global food colorants market report compiled by Market Research Future (MRFR) comprises the latest trends and opportunities for the period of 2022 to 2030 (forecast period). The outbreak of the COVID-19 pandemic and its impact on the supply chain has been included.
Market Scope:
Food Colorants Market Share exceeded USD 3.68 billion in 2021 and is estimated to grow at a CAGR of over 7.3% between 2022 and 2030. The role of food colorants in driving the purchase decisions of consumers is expected to drive its demand. Consumption of foods and beverages, demand for convenience and packaged foods, change in eating habits in urban settings, and a large earning population are major drivers of the market. Introduction of strict regulations pertaining to its use has triggered the need for natural dyes and pigments. Natural colors can lower the chances of allergies and intolerance among consumers. Huge demand for transparency and clean label regulations have led to many manufacturers opting for these labels by federal regulatory agencies. The outbreak of the COVID-19 pandemic has pushed the consumption of foods to homes rather than outdoor environments. This can negatively impact the market.
But strict regulations on it can hamper the global food colorants market growth.
Segmentation:
The global food colorants market is segmented into type and application.
Based on type, the market has been segmented into natural and synthetic. The synthetic segment dominated the market in 2022 with a market share of nearly 60%.
Based on application, the market has been segregated into bakery confectionery, dairy frozen desserts, beverages, sweet savory snacks, meat, poultry seafood products, and others. The meat, poultry seafood products segment is expected to register the highest CAGR of 6.0% during the forecast period. Consumption of these products owing to their convenience and hectic lifestyles led by consumers can facilitate segment growth in the global food colorants market.
Regional Analysis:
The global food colorants market, by region, has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is set for a huge boost in demand owing to the consumption of functional beverages and availability in new flavors. Huge demand for organic products can influence the market demand heavily. The trend of clean labels among food and beverage manufacturers can have a positive impact on the market. Focus on health and wellness by consumers and rise of high-end bakeries will spur the demand for food colorants.
The European market dominated the global food colorants market in 2018 and is expected to register a CAGR of 5.0% during the forecast period. The U.K., Germany, and France are the major countries in the region witnessing high demand for food colorants.
The APAC Food Colorants Market Trends is expected to be highly lucrative for market players operating in the food colorants market owing to the significant growth of the food industry in Asia-Pacific.
Competitive Outlook:
Archer Daniels Midland Company, Döhler Group, Naturex, Kalsec Inc., Sensient Technologies Corporation, Chr. Hansen Holding A/S, Frutarom Industries Ltd, DSM, Kevin India Co, and DDW The Color House are key players of the global food colorants market.
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