The global food colors market is anticipated to grow at a significant rate during the forecast period owing to growth in food and beverage industry and increasing demand for food colors from bakery and confectionary sector. The increasing need for product improvisation in terms of product appeal is also leading to escalating demand for food colors.
Food colors are dyes or pigments permitted for adding colors in foods. They are added to food and drinks to create a specific appearance. The growing number of hotels, cafes and restaurants are also leading to increasing demand for food colors. The market is poised to undergo a healthy growth with increasing globalization and inclination of consumers towards fancy food products.
Global food colors market can be segmented based on type, form, solubility, application and region. Based on type, the market is segmented into natural colors, synthetic colors and nature identical colors. The natural colors are further segmented into carmine, caramel, anthocyanins, carotenoids, chlorophyll, annatto and others. In 2020, the natural colors segment held the major share of the global food colors industry and is expected to maintain its dominance during the forecast period. The worldwide demand of natural food colors is rising because of the increasing consumer preference for organic label products. Further, strict food & beverage norms regarding the use of synthetic food colors are expected to have a positive impact in the worldwide natural food colors industry.
Regionally, Europe dominated the food colors market in 2020 owing to rise in consumption and production of food colors in the region as well as increased awareness of safe food color products among the consumers. However, the Asia-Pacific region is anticipated to witness the fastest growth in the global market for food colors during the forecast period due to the rising demand from the bakery & confectionery and processed food industries.
Major companies operating in the global food colors market include Aromatagroup SR, Archer Daniels Midland Company, Givaudan (Naturex S.A.), Chr Hasen A/S, Ddw The Color House, Doehler Group Se, International Flavors & Fragrances Inc., Kalsec Inc., Koninklijke Dsm N.V. and Sensient Technologies Corporation, among others. Leading companies are focusing on new product innovation and development of organic food colors to meet the growing requirement. Other strategies include mergers & acquisitions to increase market share.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To analyse and forecast the market size of global food colors market.
- To forecast global food colors market based on type, form, solubility, application, company and regional distribution.
- To identify drivers and challenges for global food colors market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions etc. in global food colors market.
- To identify and analyse the profile of leading players operating in the global food colors market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of food color manufacturing companies across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated global food colors market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Food color manufacturing companies/partners
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to food colors market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as food color manufacturing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
About - TechSci Research
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