COVID-19 Impact on Food Colorants Market is estimated to grow at a CAGR of 5.4% During Forecast Period 2020 to 2025

Market Highlights

Global Food Colorants Market has witnessed continued growth over the last few years and is projected to grow by USD 1,805.6 Million from 2020 to 2025 at a CAGR of 5.4%. Food colorants are natural or synthetic additives used to impart the desired color to food products and beverages. Manufacturers of food colorants are focusing on organic and natural colorants to exploit the growth opportunities generated by the changing consumer preference to natural and organic products. Various studies conducted in public interest have concluded that these artificial or synthetic colors pose a threat to consumer health. These have changed consumer perception significantly toward the use of synthetic food colors. According to the Center for Science in the Public Interest, food colorings can lead to hyperactivity, behavior problems, and allergies in children. Many of these synthetic food colors are also linked to tumors, chromosomal damage, asthma, and various other health hazards. This has resulted in the demand for a ban on artificial food colors by consumers.

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The consumption of food colorants is increasing across the globe owing to its pleasant flavor and medicinal properties. The growth of the global food colorant market is driven by the high demand for functional beverages and the availability of several flavor variants. The increasing demand for organic products in developed economies is expected to offer lucrative opportunities to market players in the coming years. However, the high cost of food colorants as compared to its regular counterpart and limited product awareness in underdeveloped nations are expected to hamper the growth of the food colorants market at the global level during the forecast period.

Key Players

Market Research Future Recognizes Chr. Hansen Holding A/S (Denmark), Archer Daniels Midland Company (US), Sensient Technologies Corporation (US), DDW The Color House (US), Döhler Group (Germany), Kalsec Inc. (US), Frutarom Industries Ltd (Israel), DSM (Netherlands), Naturex (France), and Kevin India Co (India) as the Key Players active in the Global Food Colorants Market.

Segmental Analysis

Global Food Colorants Market has been segmented on the basis of Type, Application, and Region.

Based on type, the global food colorants market has been segmented into natural and synthetic. The natural segment is projected to register the highest CAGR of 5.8% during the forecast period. The demand for natural food colorants has been increasing owing to the rising demand for clean-label products. The clean-label trend has evolved beyond ingredients to include food that is prepared using natural food additives. The increasing consumer awareness of health and wellness and demand for natural food colorants over synthetic counterparts are fueling the growth of the segment.

Based on application, the global food colorants market has been classified as bakery & confectionery, dairy & frozen desserts, beverages, sweet & savory snacks, meat, poultry & seafood products, and others. In 2020, the bakery & confectionery segment garnered the largest revenue share. The rise in the number of high-end bakeries is a major factor boosting the growth of the bakery & confectionery segment. Many manufacturers of bakery & confectionery are introducing new products, which is accelerating the growth of the global food colorants market.

Regional Analysis

Geographically, the global food colorants market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, Europe dominated the market, accounting for the largest share of nearly 35% in 2020 and register a CAGR of 5.0% during the forecast period. Germany, France, and the UK are the key countries that are contributing to the market growth of the region. The high demand for food colorants in Europe can be attributed to the increasing consumption of bakery & confectionery products over the last few years.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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This release was published on openPR.