Meticulous Research® – leading global market research company published a research report titled “Food Colors Market by Type (Naturals, Synthetic, Nature Identical), Source (Plant, Microorganisms, Animals), Form (Liquid, Powder, Emulsion), Solubility (Water, Oil), Application (Processed Foods, Beverage), and Geography– Global Forecast to 2024
According to this latest publication from Meticulous Research®, the global food colors market is expected to grow at a CAGR of 7.4% from 2018 to reach $4,651.4 million by 2024.
The global food colors market is majorly driven by the factors such as increasing demand for natural colors, growing awareness for clean-label products, rising need to enhance product appeal, and growing research and development activities in food industry. Moreover, emerging economies particularly South East Asia, Latin America, and African countries are also boosting the growth of the food colors market and hold huge potential for future growth. However, high cost of natural food colors hinders the growth of this market to some extent.
The global food colors market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2024-by type (natural, synthetic, and natural identical), source (plant, mineral and chemical, microorganism, and animal), form (liquid, powder, gel, and emulsion), solubility (water, dye, and oil), application (processed food products and beverages), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country level.
On the basis of type, natural colors commanded the largest share of the global food colors market in 2018, mainly due to increasing demand for chemical free food products with growing health awareness among the consumers across the globe. Natural food colors market is further expected to witness a rapid growth during the forecast period due to increasing demand for organic foods as they are healthier and safer than conventional foods. As natural food colors are biodegradable, governments of the various countries support the use of natural food colors instead of synthetic food colors.
On the basis of source, plant source commanded the largest share of the global food colors market. The growth of this segment is mainly due to growing demand for natural food colors derived from various parts of plants.
On the basis of form, liquid form food colors commanded the largest share of the global food colors market in 2018, mainly due to rising demand of coloring the food items which require lighter and more pastel color. In addition, this form also helps to improve the viscosity, mouthfeel, product stability, texture, shelf life, pleasant taste, and better visual aspect of the food product as compared to other forms.
On the basis of application, processed food products segment dominated the global food colors market in 2018. However, beverages segment is expected to witness a rapid growth during the forecast period. The growth of this segment is mainly attributed to growing need to improve the energy-nutrient ratio in beverages as well as to meet the demand of health-conscious consumers.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, Italy, U.K., Spain, and RoE), Asia-Pacific (China, Japan, India, Australia, and RoAPAC), Latin America (Brazil, Mexico, Argentina, and RoLATAM), and Middle East & Africa. Europe commanded the largest share of the global food colors market in 2018, followed by Asia-Pacific and North America. The large share of this region is mainly attributed to increasing demand of processed food products in countries like Germany, France, Italy, and Spain. Also, the factors such as increasing investment in research and development from major players of food industry and rising government support to promote food processing sector are further expected to drive the growth the food colors market in the region. However, Asia-Pacific region is expected to register highest CAGR during the forecast period mainly due to increasing demand of processed food products in emerging and developing countries including India, China, Indonesia, and Thailand. This region is also witnessing tremendous growth for food and beverages industry due to growing urbanization, health awareness, and disposable income which is further propelling the growth of food colors market.
The major players operating in the global food colors market are CHR Hansen Holding A/S (Denmark), Koninklijke DSM N.V. (The Netherlands), Sensient Technologies Corporation (U.S.), Archer Daniels Midland Company (U.S.), Dohler Group(Germany), DowDupont(U.S.), D.D. Williamson & Co., Inc. (U.S.), Naturex S.A. (France), Kalsec Inc. (U.S.), FMC Corporation (U.S.), BASF SE (Germany), Allied Biotech Corporation (Taiwan), Frutarom industries Ltd. (Israel), Lycored Ltd. (Israel), GNT Group (The Netherlands), San-Ei Gen F.F.I., Inc. (Japan), and Color & Fragrance Co. (U.S.).
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