Food Colors Market Global Key Players, Size, Share, Demands, Trends, Type and Forecasts to 2028

The food colors market is projected to reach USD 6.0 billion by 2028 growing at a CAGR of 5.4% from 2023 to 2028. Food colors are essential additives used in the food & beverage industry, not only to provide color to the food products but also to add nutritional value and increase the palatability of food or beverage products. The application of colors in food and beverages help in enhancing the color and aesthetics of the product. Synthetic colors are used by many food manufacturers, as they are more stable across various processing conditions, such as temperature and moisture variations, as compared to natural food colors, and are also cost-effective. The use of bright or unexpected colors is common in confectionery, desserts, baked goods, snacks, and beverages. In Europe, beverages make up the largest application of natural colors, with non-alcoholic beverages forming an integral part of the diet in the region. Dairy products form a major area of application for colors, particularly with the increase in demand for flavored yogurt and milk products. Food colors are also used in various food items, such as candies, toffees, chewing gums, aerated gums, chocolates, health bars, fillings, decorations, crackers, stuffing, fillings, sauces, dressings, pastries, and cookies.

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"Food colors have high demand in food processing industry."

The processed food products industry is gradually growing as a result of the high demand for convenience foods with improved lifestyles. In the near future, the processed food products market is estimated to grow continuously due to factors such as diet upgrades resulting from a rise in incomes, as well as growing health. The increase in consumption of processed food products across regions is a major factor projected to drive the demand for food colors. The demand for confectionery and dairy products is growing, particularly in emerging economies such as India, China, Brazil, Argentina, and South Africa. This has led to an increase in the consumption of food colors, which is projected to continue over the next five years.

"Asia Pacific is projected to witness substantial growth during the forecast period in the food colors market."

The Asia Pacific food colors market has witnessed robust growth in the food industry. The Asian region is an emerging processed and functional food market, which is growing rapidly. Malnutrition is a major issue in East Asia and the Pacific region, which makes it a potential growth area for functional foods and nutritional & healthcare products. Due to the high demand for these products, the need for food colors with added nutritional benefits is projected to increase, thereby creating an opportunity for food color manufacturers in the region. Global food color manufacturers are focusing on expanding in the Asia Pacific market through new product launches and expansions, as it is considered to be the fastest-growing food color market. In October 2022, IFF opened a new innovation center in Singapore with an investment of USD 30 million to integrate the technologies, capabilities, and expertise of all four business divisions, such as nourish, health & biosciences, scent, and pharma solutions. This investment aimed to strengthen its business and enhance accessibility to customers in greater Asia. In June 2021, Divi's Nutraceuticals an Indian company has launched CaroNat (dark yellow to orange color) food color which is sourced naturally from concentrated beta carotene and carrot juice. It can be used in various food and beverages including the dairy sector.

Break-up of Primaries:

By Company Type: Tier 1 -43%, Tier 2-41% , Tier 3 - 16%
By Designation: C level - 54%, D level - 46%
By Region: North America -24%, Europe - 19%, Asia Pacific - 32%, South America - 15%, RoW -10%

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Leading players profiled in this report:

Archer Daniels Midland Company (US)
International Flavors & Fragrances Inc. (US)
Sensient Technologies Corporation (US)
DSM (Netherlands)
Naturex (France)
DDW (US)
Döhler Group (Germany)
Fiorio Colori (Italy)
LycoRed (Israel)
Kalsec Inc (US)
Alliance Organics LLP (India)
Horizon Specialities Ltd. (Germany)
Sun Food Tech Pvt. Ltd. (India)
San-Ei Gen F.F.I., Inc. (Japan)
Pharmogana GmbH (Germany)
Chromatech Incorporated (US)
Sunrise Green Food (India)
Proquimac (Spain)
Exberry (Netherlands)
Ajanta Chemical Industries(India)

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This release was published on openPR.