Food Colors Market: Global Industry Analysis and Forecast (2023-2029)

Food Colors Market size was valued at US$ 3.81 Bn. in 2022 and the revenue are expected to grow at 5.9% through 2023 to 2029, reaching nearly US$ 5.69 Bn.
Food Colors Market Overview:
Any dye, pigment, or chemical that provides color to food or drink is referred to as color addition. They are available in a variety of forms, including liquids, powders, gels, and pastes. Food coloring is used in both commercial and household food production. Food colorants are also utilized in cosmetics, pharmaceuticals, home craft projects, and medical gadgets, among other non-food applications.To know about the Research Methodology :- Request Free Sample Report
Food Colors Market Dynamics:
Food Colours Market size was valued at US$ 3.81 Bn. in 2022 and the revenue are expected to grow at 5.9% through 2023 to 2029, reaching nearly US$ 5.69 Bn.

Increased demand for food and beverage goods as well global beverages consumption is projected as the global population grows, which is expected to drive demand for the product even higher throughout the projection period. North America is expected to account for 8.7% of worldwide beverage large quantities of goods in 2022, while Western Europe will account for 9.2%. In 2000, their combined market share was about one-third of worldwide beverage consumption; by 2022, it will have decreased to 18%. In 2022, Asia, on the other hand, is expected to take 47.2 % of the market.

Given growing domestic demand, the BRICS burgeoning food and beverage industry is expected to be a major driving factor for the market over the forecast period. The growing demand for convenience foods, owing to increased consumer awareness of items with unusual and traditional flavors, is expected to propel the industry forward in the coming years.

Several initiatives to encourage better lifestyles by introducing novel health products to reduce obesity, cholesterol, and diabetes have been established and effectively implemented by the governments of Spain and Germany in recent years. This trend is predicted to be important in promoting natural food colors in consumables.

Because of the broad portfolio offered and distribution network established by existing players, the market is predicted to have a low threat of new entrants, resulting in a high entry barrier for new entrants. Furthermore, because purchasers have a high switching cost, it is difficult for new companies to achieve a considerable market share, lowering the new player's entry into the market.

Consumer concerns over the usage of natural carmine produced from cochineal insects are prompting producers to look for alternate options. LycoRed makes its Lyc-O-Beta carotene orange hue by fermenting the Blacksiea transport fungus, and Chr. Hansen is attempting to make a carmine through a similar technique. Due to the shifting pricing of carmine, businesses are also looking for alternatives.
Food Colors Market Segment Analysis:
The Natural Food Colors segment is leading the Application segment of the Food Colors Market:

Natural food color is expected to be the most profitable product area, accounting for more than 80% of total revenue. The demand for this product is developing rapidly around the world as customers become more aware of the health advantages connected with natural food colors.

The market for synthetic food colors is predicted to expand as consumers in emerging countries become more aware of the products. Furthermore, synthetic hues like green and blue are predicted to be in high demand due to their application in the beverage production business. However, the increasing use of natural colors as a substitute may stifle industry growth.

The carbonated soft drinks and non-alcoholic beverages segment is dominating the Type segment of the Food Colors Market:

Since of increased disposable income and economic development, carbonated soft drinks and non-alcoholic beverages are expected to expand at the fastest pace of 6.4 percent throughout the projection period. In addition, rising demand for ready-to-drink beverages is likely to translate into increased product demand, resulting in industry growth. Due to the increased usage of products in sauces and salad dressings, chocolates, sweets, and bakery products, non-dairy food applications accounted for the largest segment. The market is predicted to develop due to the growing usage of food colors in the processed meat industry to improve the product's aesthetic appeal.
Food Colors Market Regional Insights:
Europe is estimated to dominate the growth of the Food Colors Market.

Over the projected period, Europe's robust bakery and confectionary industry, together with rising consumer demand, is expected to boost market expansion in the area. Furthermore, strict laws governing the use of artificial food colors are likely to boost the market for natural food colors in Europe.

Superior product qualities such as consistent hue and a cheaper cost than natural food colors drive increased adoption of nature-identical products in the Asia Pacific. The product's widespread use in the production of alcoholic and non-alcoholic beverages is also predicted to fuel market growth.

The objective of the report is to present a comprehensive analysis of the Food Colors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Food Colors Market dynamics, structure by analyzing the market segments and projecting the Food Colors Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Food Colors Market make the report investor’s guide.
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Food Colors Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.81 Bn.


Forecast Period 2023 to 2029 CAGR:
5.9%
Market Size in 2029:
US $ 5.69 Bn.


 Segments Covered:
by Type
Synthetic
Red 40/Allura Red
Yellow No. 5
Yellow No. 6
Others
Natural
Beta Carotene
Astaxanthin
Anthocyanin
Annatto
Others
Natural-identical
Other Mixed Carotene
Lutein
Canthaxanthin
Lycopene
Curcumin
Titanium Dioxide
Others
Others


by Application
Dairy Food
Non-Dairy Food
CSD & Non-alcoholic Beverages
Alcoholic Beverages


by Source
Plants & Animals
Minerals & Chemicals
Microorganisms


by Form
Liquid
Powder
Gel


by Solubility
Dyes
Lakes



Food Colors Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Food Colours Market Key Players are:
1. AromataGroup SRL (Fiorio Colori SPA)
2. Givaudan (Naturex S.A.)
3. Kalsec, Inc.
4. Archer Daniels Midland Company
5. Chr. Hansen A/S
6. D.D. Williamson & Co. Inc. (DDW)
7. Dohler Group
8. International Flavors & Fragrances
9. Koninklijke DSM N.V.
10.Sensient Technologies Corporation
11.CHR Hansen
12.Naturex
13.Roha Dye Chem Pvt. Ltd
14.ADM
15.International Flavors and Fragrances Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Food Colors Market?
Ans: Europe region held the highest share in 2022.

2. What is the growth rate of Global Food Colors Market?
Ans: The Global Food Colours Market is growing at a CAGR of 5.9% during forecasting period 2023-2029.

3. What is scope of the Global Food Colours market report?
Ans: Global Food Colours Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Food Colours market?
Ans: The important key players in the Global Food Colours 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., Sensient Technologies Corporation, CHR Hansen, Naturex, Roha Dye Chem Pvt. Ltd, ADM, and International Flavors and Fragrances Corporation

5. What is the study period of this market?
Ans: The Global Food Colours Market is studied from 2022 to 2029.