The global food colors market size is likely to attain over USD 5.89 billion by the year 2028. Besides, it is likely to project a CAGR of nearly 6% during the forecast years 2021-2028 Food color is any dye, pigment, or substance that imparts color when it is added to food and beverages. Food colors are available in various forms such as liquids, powder, gels, and paste, which find their application in meat products, beverages, dairy, bakery & confectionary, processed food & vegetables, and oils & fats.
The present and future food colors market progress is summarized to conclude the attractiveness of the entire market. Also, prime factors that influence the food colors market opportunities during the forecast years. Factors such as the upsurge in demand for natural colors from various end-use industries, including food & beverages, bakery & confectionery, dairy products, meat & poultry, and seafood. This is expected to have a positive impact on the utilization of natural sources such as carotenoids, curcumin, anthocyanin, and carmine.
However, high beginning establishments cost and medical issues made by the utilization of synthetic colors coupled with strict government regulations are hampering the market growth. Furthermore, continuous R&D activities by private organizations and governments for developing low-cost natural food colorants such as carmine are anticipated to encourage manufacturers to invest significantly in the market is likely to provide lucrative development opportunities for the food colors market in the forthcoming years.
The report also emphasizes several distinctiveness of the global food colors industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the food colors industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The food colors market has tough competition among the new emerging and pre-established market vendors. Besides, the food colors industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
In terms of the Type, the market is categorized into Natural, Synthetic, and Natural-Identical. The Natural segment accumulated the maximum market share and it is likely to continue its dominance throughout the forecast years. This growth is due to the demand for natural food colors owing to rise in consumer preference and awareness regarding their health benefits associated with natural colors.
Asia Pacific is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the food colors market in this region is mostly ascribed to the consumption of various ready-to-eat snacks, which creates a demand for these colors. The rise in the working population in the region is also a major driver for the growth of the market in the region. However, the North Amercia is likely to account for the maximum market contribution during the forecast years. The domination of this region is largely ascribed to high consumption of food colors in this region.
The major players of the global food colors market are AromataGroup SRL (Fiorio Colori SPA), Givaudan (Naturex S.A.), Kalsec, Inc., Archer Daniels Midland Company, Chr. Hansen A/S, D.D. Williamson & Co. Inc. (DDW), Dohler Group, International Flavors & Fragrances, Koninklijke DSM N.V., and Sensient Technologies Corporation. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. Renowned companies are offering new and modern food colors software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Food Colors Market
Type Overview, 2019-2028 (USD Million)
Application Overview, 2019-2028 (USD Million)
- Bakery & Confectionery Products
- Processed Food
- Oils & Fats
- Dairy Products
Form Overview, 2019-2028 (USD Million)
Regional Overview, 2019-2028 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America