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Food Colors Market: Exploring Emerging Trends, Growth Drivers, and Future Forecasts in the Industry
Food Colors Market
As per the report, the food colors market size has grown strongly in recent years. It will grow from $3.45 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The food colors market size is expected to see strong growth in the next few years. It will grow to $5.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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Growing Demand From The Food And Beverage Industry Boosts The Food Colors Market
Increasing demand from the food and beverage industry is expected to drive the growth of the food colors market in the coming years. The food and beverage sector encompasses all businesses engaged in the production, packaging, and distribution of raw food materials. This includes both fresh and processed foods, as well as alcoholic and non - alcoholic drinks. Food colors are added to foods and beverages to preserve their original color and texture, which can be lost during cooking and preparation due to a variety of chemical and physical processes. For instance, in March 2022, according to the Australian Bureau of Statistics report, an Australia-based independent statutory agency for statistical collection and analysis, approximately 14.7 million tonnes of food and non-alcoholic beverages were sold from grocery stores, supermarkets, convenience stores, food stores, and fresh food markets across that Australia in the year 2020-2021, which represents 1.4% increased as compared to the previous year. Therefore, the increasing demand from the food and beverage industry is significantly driving the growth of the food colors market.
Investments In Technological Advancements Drive Innovations In The Food Colors Market
Increasing investments in technological advancements are shaping the food colors market. Major companies operating in the food colors sector are focused on investing in food coloring technology to meet consumer demand. For example, in October 2022, International Flavors and Fragnances (IFF) opened a new Singapore Innovation Centre, the first in its global network of research, creative and application centers to integrate the technologies, capabilities and expertise of all four business divisions such as nourish, health & biosciences, scent and pharma solutions.
The food colors market covered in this report is segmented -
1) By Type: Natural, Synthetic, Nature Identical
2) By Form: Liquid, Powder, Gel
3) By Application: Dairy, Meat Products, Beverages, Bakery And Confectionery, Processed Food And Vegetables, Oils And Fats, Other Applications
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Major companies operating in the food colors market include Chr Hansen Holding A/S, D.D. Williamson & Co Inc., Kalsec Inc., Döhler GmbH, International Flavors & Fragrances Inc., Koninklijke DSM NV, Sensient Technologies Corporation, The Archer-Daniels-Midland Company, LycoRed Ltd., AromataGroup SRL, Givaudan SA, Naturex Ltd., Mane Kancor Ingredients Private Ltd., FMC Corporation, Badische Anilin- und Sodafabrik SE, Frutarom Industries Ltd., GNT Group BV, San-Ei Gen., De Nederlandse Staatsmijnen, Roha Dyechem Pvt Ltd., Kolor Jet Chemical Pvt Ltd., Vidhi Specialty Food Ingredients Ltd., Alliance Organics LLP, Vinayak Ingredients India Pvt Ltd., Neelikon Food Dyes and Chemicals Ltd, SensoryEffects Flavor Company, Kolorjet Chemicals Pvt Ltd., Aakash Chemicals & Dyestuffs Inc., Natural Food Colors Inc., Ingredion Incorporated
Contents of the report:
1. Executive Summary
2. Food Colors Market Report Structure
3. Food Colors Market Trends And Strategies
4. Food Colors Market - Macro Economic Scenario
5. Food Colors Market Size And Growth
…..
27. Food Colors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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