Growing demand from the food and beverage industry where it is used to enhance the appearance of food and impart color to the food. Growing global population base which leads to an increase in the demand for food products is further driving the market growth. Also, expansion of the food and beverage industry along with the rising demand for ready-to-drink beverages is again fuelling the industry growth. Rising usage of the product in sauces and salad dressings desserts and bakery in order to enhance the aesthetic appeal of the food product is expected to impact the market growth positively.
As per the new report added by Value Market Research, the Global Food Colour Market was valued at USD 2.5 BN (by revenue) in 2017 and is anticipated to reach USD 4.3 BN by 2024 with a CAGR of 8.0%.
NATURAL TYPE IS GAINING HIGH DEMAND IN THE MARKET
Natural dominated with over 55% share in 2017. The demand for this product is increasing high owing to the rising awareness among consumers regarding the health benefits of natural food colors.
THE BEVERAGE HAS EMERGED AS THE LARGEST APPLICATION AREA
Beverages dominated with X.X% share in 2017. Growing demand for carbonated soft drinks and non-alcoholic beverages are anticipated to propel the segment growth over the forecast period. Also, changing consumer preferences towards ready-to-drink beverages is another major factor boosting the segment growth.
NORTH AMERICA RULING THE GLOBAL FOOD COLOR MARKET
North America accounts for over 30% share in 2017. Growing bakery and confectionery industry in the region is the major fueling the market growth. Also, strict rules and regulations against the use of artificial food color lead to the use of natural food color will further propel the market growth.
MAJOR PLAYERS
Archer Daniels Midland Company, Chr. Hansen A/S, D.D. Williamson & Co. Inc. (DDW), Dohler Group, Fiorio Colori SPA, FMC Corporation, Kalsec, Inc., Koninklijke DSM N.V., Naturex S.A., and Sensient Technologies Corporation.
As per this study the Global Food Colour Market was valued at USD 2.82 BN (by revenue) in 2022 and is anticipated to reach USD 5.3 BN by 2030 with a CAGR of 9.42%. Regarding volume, the market was calculated XX Metric Tons in 2022 and forecast to touch XX Metric Tons by 2030 with a CAGR of XX% during 2023-2030.
Pigment, dyes, and pigments are the used as a food color to enhance food appeal. The food color is bifurcated into natural and artificial colors, natural color includes pigments like chlorophyll, turmeric powder, beet powder etc. Natural food colors also contain bioactive properties and thereby used as therapeutic agents. Artificial food colors are made up of chemical and poses health hazards. They have a huge demand across food and beverage industry where they are used imparts color to the food and drinks.
Market Dynamics
Rising demand from the food and beverage industry and confectionary and bakery product are likely to raise the demand for food colors. Also, growing awareness about the health benefits of natural food colors is further raising the demand for the product. Further, the ban on the use of artificial food color will lead to the use of natural color, thereby fueling the industry expansion. Additionally, rising use of food additives in the production of cosmetic products is again propelling the market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of food colour.
Market Segmentation
The broad food colour market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Natural
- Synthetic
- Nature-Identical
- Caramel
By Form
- Powder
- Liquid
- Gel & Paste
By Source
- Plant, Animal, & Insect
- Microbes
- Petroleum, Mineral & Chemicals
By Application
- Bakery & Confectionery
- Dairy & Frozen Treats
- Breakfast Cereals & Snacks
- Savory & Plant-Based Meat
- Beverages
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for food colour in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Food Colour Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Food Colour market include BASF, Cargill, CHR Hansen, Danisco, DD Williamson, DSM, GNT Group, Lycored Ltd, Naturex. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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