Food Colors Market Overview:
Global Food Colors Market was valued at $1,751 million in 2016, and is projected to reach $3,210 million by 2023, registering a CAGR of 9.8% from 2017 to 2023. Food colors are added to food items or beverages to enhance their appeal. Pigment and dyes are the most common colorants added to food items and beverages, in liquid, liquid gel, gel paste, and powder form. The global food color market is driven by their ability to enhance product appeal and growth in awareness about the beneficial effects of natural colors. For instance, betanin, a natural food colorant, is used for its antioxidant properties. Similarly, red sandalwood offers wound healing properties and is used in ayurvedic treatment. However, ban on trade of artificial colors hampers the market growth. R&D activities for new raw material sources presents manufacturers of food colors with numerous growth opportunities.
The global food colors market is segmented based on type, application, and geography. Based on type, it is bifurcated into natural and artificial colors. Based on application, it is divided into meat products, beverages, dairy, bakery & confectionary, processed food & vegetables, oils & fats, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Global Food Colors Market Segmentation
Asia-Pacific is expected to witness the highest growth rate in the global market, owing to high demand from emerging economies such as India, China, South Korea, and others. In addition, increase in consumer expenditures in these countries for food & beverages is expected to increase the demand for color cosmetics.
Top Investment Pockets
The food colors market in China is anticipated to be the most lucrative market for manufacturers soon, owing to the increases awareness regarding the health benefits of natural food colors. Also, the ban on the usage of artificial food colors during the production of food & beverages leads to the increased use of natural food color, thereby driving the food color market.
Global Food Colors Market: Top Investment Pockets, by Country
In 2016, the meat products segment accounted for the highest share in 2016, registering a CAGR 10.4% from 2017 to 2023. The meat products segment is driven by its increased consumption globally. The beverages segment is projected to witness the highest growth during the forecast period owing to its increased demand worldwide.
The food colors industry in Latin America is estimated to be the largest in the LAMEA region and is estimated to attract manufacturers in the near future. Growing awareness about regarding usefulness of natural food color and demand for clean label food drives the market in the region.
Lamea Food Colors Market, 2016-2023 ($Million)
The key players profiled in the report include Archer Daniels Midland Company, Kalsec, Inc., Chr. Hansen A/S, Fiorio Colori SPA, FMC Corporation, Dohler Group, Sensient Technologies Corporation, D.D. Williamson & Co. Inc. (DDW), Koninklijke DSM N.V., and Naturex S.A.
The other key players in the value chain (not profiled in this report) include Symrise AG, International Flavors & Fragrances Inc., Kerry Group Plc, Givaudan SA, and Royal DSM N.V.
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global food color market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends and quantitative analysis of the global market from 2016 to 2023 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the market potential of the food color industry.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies and prevailing market opportunities.
- Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.
Food Colors Market Key Segments:
- Natural Color
- Artificial Color
- Meat Products
- Bakery & Confectionary
- Processed Food & Vegetables
- Oils & Fats
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East