Market Research Report
Global Food Colorants Market - 2019-2026
|Published by||DataM Intelligence||Product code||812788|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Food Colorants Market - 2019-2026|
|Published: March 1, 2019||Content info: 130-180 Pages||
Global Food Colorants Market Overview
The global Food Colorants market was worth the US $ XX billion in 2018 and is expected to reach US $XX billion by 2026, at a CAGR of XX% during the forecast period.
Food coloring or color additive is any dye, pigment or substance that imparts color when it is added to food or drink. Food coloring is used both in commercial food production and in domestic cooking. Consumers typically associate certain colors with specific flavors, and the color of food can influence the perceived flavor in anything from candy to wine. Thus, increase in the usage of these products by various end user industries is expected to drive the market in the forecast period.
Global Food Colorants Market - Market Dynamics
The growing food & beverage industry is one of the major factors that are boosting the market grows exponentially. Because colors can also protect vitamins and flavors that may be affected by sunlight during storage. By using colors, we can enhance the natural color of a dish and introduce decorative colors to other foods. Also, the color of the food can influence the perceived flavor. Besides, increasing consumer demand for processed foods leads to increase consumption of food colorants. For instance, according to American Chemical Society (ACS), about 70% of the diet of the average US resident is from processed foods.
The stringent food standards regulations by the FDA and several regulatory bodies is proving to be a constraint for manufactures. Also, natural colorants are expensive and not affordable by most of the users. Thus, these factors are hindering the market growth.
Global Food Colorants Market - Segment Analysis
Based on the type the global food colorants market is broadly segmented as natural and synthetic colorants. Between these synthetic food colorants held the majority share in 2017. Due to the low price, extended shelf life, stability, and easy availability in bulk form. In addition, preference for synthetic colors such as blue and green from the beverage industry will aid market penetration. However, in the forecast period, natural colorants are predicted to grow at a high CAGR. It is owing to an increase in the number of health-conscious consumers have grown exponentially over the years, thereby instigating a demand for organic products including natural colorants. Additionally, increasing awareness of safety concern policies about clean labeling augments product penetration.
Based on the application the global food colorants market is segmented into food, beverage, pharmaceuticals, cosmetics, and others. Among all these beverages accounted for the major market share and is expected to grow at a high CAGR over the forecast period due to increasing demand for both alcoholic beverages. Also, increasing demand for soft drinks, energy drinks, ready to drink coffee and juices are among key application for synthetic colorant products.
Global Food Colorants Market - Geographical Analysis
The global food colorants market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America occupies the dominant share in the food colorants market and is expected to grow at a CAGR of XX% in the forecast period. Colorants have strong application in food & beverage industry which is nurturing the market in this region. Favorable government regulations, a huge consumer base, and the presence of major companies stimulating industry share in this region. The US frozen bakery market will be primarily driven by the rising demand for packed food and convenience food market. For instance, according to Small Business Development Centers (SBDC), the US bakery products industry includes more than 2,800 commercial bakeries with combined annual revenue of about $30 billion, along with about 6,700 retail bakeries with a yearly income of about $3 billion.
Global Food Colorants Market - Competitive Analysis
Significant players of the global food colorants market are Cargill Incorporated, BASF SE, Koninklijke DSM N.V., DDW The Colour House, Hansen Holding A/S, GNT Group, Naturex, Lycored, San-Ei Gen F.F.I., Inc., Sensient Colors LLC, Sethness Caramel Color, and others. The diversified product portfolio is the major factor that is responsible for strengthened position of these companies in the market. Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase share in the food colorants market. For instance, in March 2019, Cargill incorporated has filed a patent for a method to naturally adjust the color of chocolate products with an increased reddish hue. In November 2018, Cargill's food ingredients and applications business have chosen six North American distribution partners - Univar Inc., Gillco Ingredients, International Food Products Corporation, Batory Foods, Pearson Sales Company and St. Charles Trading, Inc.