Food manufacturers are increasingly employing natural food colours instead of synthetic food colours to restore the beauty of food and beverage products after processing, owing to the increased demand for natural food products and functional foods.
The global food colors market is projected to reach a market valuation of USD 2.6 billion by the year 2022, accelerating with a CAGR of 7.3% by 2022-2032.
FMI analysis displays that food colors will account for nearly USD 5.3 Bn market value in the global market in 2032. The food colors market exhibited a consumption by volume of more than 185,000 metric tons in 2021 and is anticipated to have a consumption of about 340,000 metric tons by 2030.
Market research by FMI also suggests that the demand in the natural food colorants sector is expected to grow at 8.1%, the fastest among other types during the forecast period. The need for natural food ingredients along with traceability of their origin and extraction process has become an important factor due to COVID-19.
People are more conscious of food ingredients, propelling the demand for natural food colors over synthetic ones. Natural food colors are also being highly used in the augmenting organic foods market.
The global food colors market is driven by the highly growing demand for innovative food choices of people, and altering taste and food appeal preferences due to the rise of social media. An increase in consumer awareness for clean-label food products and the additional health benefits that certain natural food colors have is estimated to drive the market for food colors.
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Key Takeaways from the market study
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Leading Companies Profiled in Food Colors Market are
“Increasing demand for Food Colors, especially Natural Food Colors from various end-use industries, including bakery & confectionery, dairy products, food & beverages, meat & poultry, and seafood will continue augmenting growth in the market. Hence, there is a huge scope for market players to command over the ballooning demand for natural food colors, especially if they have competitive prices. To gain a competitive edge, the market players should focus on expanding their production facilities into emerging economies and strive to make costs as low as possible along with quality assurance.” Says a Future Market Insights Analyst
Competitive Landscape
Food Colors Market players have been modifying the product to attract end-user industries and consumers. They have been exploring the Natural food colors territory along with making technical strides in other food color palettes.
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Food Colors Market by Category
By Color Palette, Food Colors Market is Segmented as:
On the basis of form, the food colors market has been segmented as follows:
On the basis of solubility, the food colors market has been segmented as follows:
By Application, Food Colors Market is Segmented as:
By Region, Food Colors Market is Segmented as:
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market.
Feb 13, 2024