Global Food Color Market is Estimated to Grow at a CAGR of 5.5% from 2021 to 2028

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Global food color market size is estimated at 6.0 USD billion by 2028 and is anticipated to grow at a CAGR of 5.5 % during the projected time frame (2021-2028). Food color is a dye or pigment added to color to food and beverage. Food colors can be liquid, gels, powder, and pastes. They can natural or artificial which make them appealing, fresh, taste of choice for customers.

Natural food colors are obtained from natural sources such as plants and artificial colors are obtained using artificial synthetic formulas such as complex hydrocarbons, sulfur ions, and nitrogen. Factors driving the global food color market include growing consumer demand for natural food colors and increasing preferences for food that influence the appetite and food choice.

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OVERVIEW

Rapid urbanization, growing disposable income, and changing consumer lifestyles are expected to have a positive impact on market. Increasing customer awareness about health benefits and clean-label products of natural food color is also expected to contribute to market growth during the forecast period.

Stringent regulations for using food colors in food and beverage in various countries can restrain the market growth. The market is expected to witness a shift in preference towards natural food colors as a substitute to artificial or synthetic colors owing to health hazards associated to them. However, customers face various challenges in terms of cost, quality, process, and application of natural products. The extraction of natural products is complex and time consuming, which can also deplete the purity of natural products. This factor can hinder the food color market.

The COVID-19 pandemic has raised global concerns related to the food and beverage industry and its functioning. The demand for naturally derived products has increased significantly during the pandemic. Vegan population has also observed a significant rise during the past few years. It is estimated to grow further as more customers shift towards plant derived products. Thus, the COVID-19 pandemic and the resulting demand for plant-based products is expected to drive the demand for natural food colors, contributing to market growth.

Market Segmentation of Food Color Market

Type Analysis of Food Color Market

By type, the food color market is classified into natural color and artificial color. The natural color segment is expected to dominate the market during the forecast period. The segment growth can be attributed to increasing consumer awareness about health benefits of natural food products.

Applications of Food Color Market

By application, the food color market is divided into food products and beverages. The food products segment is expected to hold the largest market share during the forecast period. The segment growth is expected to be driven by increasing demand for various end use industries such as bakery and confectionery, dairy products, meat and poultry, seafood, and oils and fats. These end use industries use food color in their products to make them appealing for the customers.

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Regional Analysis of Food Color Market

By region, the food color market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. Asia Pacific food color market is expected to observe highest CAGR during the forecast period. The regional market growth can be due to increasing demand for food color from countries such as India and China.

Asia Pacific’s food and beverage industry is witnessing significant growth due to rapid urbanization, increasing disposable income, changing lifestyles, and increasing customer awareness about health benefits. This is expected to augment the food color market growth during the forecast period.

Key Development

  • In July 2021, GNT group launched two Exberry coloring foods derived from spirulina and turmeric that deliver orange shades of color. This launch can cater the global demand for cost-effective colors that comply clean label declarations.
  • In June 2021, Oterra announced acquisition of Symrise AG’s natural food coloring activities to strengthen its food coloring segment.
  • In April 2021, International researcher at University of California discovered a natural cyan blue color in collaboration with chemist team. The natural blue color was derived from red cabbage which can be a substitute to artificial blue color.

Market Segmentation

By Type

  • Natural Color
  • Artificial Color

By Source

  • Fruits & Vegetables
  • Seeds
  • Insects
  • Algae
  • Others

By Application

  • Food Products
  • Beverages

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Key Companies listed

The major companies listed in the food color market are International Flavors & Fragrances Inc.,Sensient Technologies, Naturex, Kalsec Inc.,Florio Colori, and Döhler Group.

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