Press release
Food Colors Market was Estimated USD 6,800 million by 2028 and is anticipated to grow at a CAGR of 12.4% | Size, Share & Report Forecast
Food Colors Market
The Food Colors Market is expected to reach USD 6,800 million by 2028 and is expected to grow at a CAGR of 12.4% over the forecast period (2021-2028).
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/food-colors-market/
The factors driving the growth of Food Colors Market includes Increasing application of food colors such as dairy products, frozen foods, and bakery & confectionery, growing awareness about the health benefits of food colors and improvements in the living standards. According to the report published by Statista, the Global Diary Market was estimated around USD 871.25 billion in 2021 and is expected to reach USD 1128 billion by the end of 2026, which will accelerate the Food Colors Market Share in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, rise in the launch of new products, increasing use of consumers preference for natural colorants over synthetic ingredients around the world and rapid urbanization, are some of the additional factors supplementing the Food Colors Market Size. In addition, the increasing investments by major corporations on research and development, strategic mergers, and partnerships between key industry players, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Food Colors Market is hindered due to strict regulations regarding the use of food colors.
The major players operating in the market are Aromata Group S.r.l., Sensient Colors LLC, Royal DSM N.V., DDW, Givaudan Group, Archer-Daniels-Midland Company, International Flavors & Fragrances Inc., Lycored, Kalsec Inc. and Chr. Hansen Holding A/S, among others.
Based on Type, the Natural segment is predicted to grow at a significant CAGR during the forecast period
Rising preference for chemical free food products and growing awareness amongst consumers about the health benefits of natural food colors, are some of the factors responsible for growth of the segment.
Based on Application, the Beverages segment is projected to expand at a robust CAGR over the forecast period
Food colors are increasingly used in beverages to enhance the flavor and taste, is the major factor propelling segment's growth.
Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period
Presence of the major players such as Archer-Daniels-Midland Company, International Flavors & Fragrances Inc., and Kalsec Inc., rising awareness about the benefits of natural colors, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Development
In 2019, Naturex launched a new extraction line to enhance the manufacturing capacity of Vegebrite Ultimate Spirulina, food coloring stuff at the company's production site in Avignon, France. Naturex's Spirulina is a 100% natural solution available in various concentrations and formats.
Market Segmentation
Segmentation by Type
Natural
Synthetic
Segmentation by Application
Beverages
Dairy Products
Frozen Products
Bakery
Meat, Poultry, and Seafood
Confectionery
Oils and Fats
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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