Market Research Report
Food & Beverages Color Fixing Agents Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Food & Beverages Color Fixing Agents Market Size By Product, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: August 24, 2021
Global Market Insights Inc.
Content info: 260 Pages
Delivery time: 2-3 business days
The food & beverages color fixing agents market is set to grow exponentially by 2027 owing to surging demand for meat and poultry worldwide.
Color fixing agents are added to food products to protect them from losing important vitamins, flavors, and natural color under prolonged exposure to light, air, extreme temperature, moisture, and unsuitable storage conditions. Moreover, color fixing agents also make foods look appealing and appetizing. Extensive research in the field of natural and synthetic food pigmentation and color fixing agents has played a vital role in bolstering market growth.
Notably, key industry players are implementing strategic initiatives to capitalize on favorable market trends, thereby positively impacting the competitive landscape. For instance, in July 2021, GNT Group, a global manufacturer of coloring concentrates, extended its EXBERRY® Coloring Foods range with the launch of two liquid-based Coloring Foods dubbed Shade Jade Green and Shade Lime Green, which are made from spirulina and turmeric. The addition of these novel natural colors was purposed to help the company meet the rising demand for cost-efficient greens that support clean and consumer-friendly label declarations.
The food & beverages color fixing agents market has been segmented based on application, product, and region. In terms of product, the market has further been categorized into potassium nitrite, potassium nitrate, sodium nitrite, sodium nitrate, and others.
The potassium nitrate product segment held about 10.3% market share in 2020 and is expected to grow at a considerable rate over 2021-2027. Potassium nitrate-based food & beverages color fixing agents are widely used to preserve meat and are also utilized to create the vibrant red color in meat. Thus, prevalent product utilization is likely to fuel segmental growth over the assessment timeline.
The others product segment is projected to garner substantial gains by the end of the study timeline. Sodium erythorbate is predominantly used in soft drinks, meats, and poultry. Extensive application of sodium erythorbate and stannous chloride, among others, as food & beverages color fixing agents is set to foster segmental expansion over the coming years.
With respect to application, the market has been segregated into meat, beverages, bakery, poultry & fish, and dairy. The food & beverages color fixing agents market from the bakery application segment is slated to expand at a notable CAGR over the projected period. The proliferating global bakery industry is expected to stimulate segmental development over the forthcoming years.
From the regional perspective, Latin America accounted for around 7.7% of the food & beverages color fixing agents market in 2020 and is speculated to grow at nearly 4.8% CAGR over the estimated period. Brazil and Argentina hold higher per capita meat consumption compared to most other countries across LATAM, which is set to augment market demand in the region over the forecast timeframe.
Meanwhile, the Middle East & Africa food & beverages color fixing agents market is expected to showcase robust growth over the analysis period fueled by prominent application of the product in the meat and beverage industry.