Future Market Insights (FMI) estimates the global riboflavin pigment market will reach a valuation of nearly US$ 360.9 Mn by 2022, at a CAGR of 5.9% between 2022-2032. Riboflavin, often known as vitamin B2, is a yellow-colored vitamin that is present in foods and supplied as a nutritional supplement. It is crucial in the synthesis of two coenzymes in the body that are involved in cellular respiration, energy metabolism, and antibody production, as well as normal growth and development.
Other common uses of riboflavin also include coloring ice creams, bakeries, confectionery, and beverages. Riboflavin is also used for coloring meats and milk items. When there is riboflavin deficiency in the body, homocysteine levels increase, elevating the risk of cardiovascular diseases. Hence, riboflavin pigment is an essential enzyme, along with being a natural food colorant.
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Big food manufacturing companies are moving their focus on adding powdered riboflavin to their final product to promote the overall health profile of food products in an attempt to cope with the changing consumer preferences.
An increase in the consumption of different natural end-use products, rising investments to set up food and beverage manufacturing and sales facilities, and growing demand for natural riboflavin pigments are driving the demand in the riboflavin food colors market.
Key Takeaways from Market Report
- The North America riboflavin pigment market is anticipated to grow at a rate of 6.3% in the region.
- Europe riboflavin pigment market is currently pegged at 190 metric tons by volume and US$ 2151 Mn.
- In Europe, Germany accounted for a revenue of US$ 24.2 Mn in 2021, followed by France with US$ 2.6 Mn for riboflavin pigments.
- By application, the beverages industry consumed over 207 metric tons of riboflavin pigments in 2021 and was valued at US$ 115.2 Mn.
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“Riboflavin food color producers are eyeing the health and nutrition markets such as dietary supplements industry to capitalize on rising consumption of dietary natural food supplements. They are also forming alliances with end users in food & beverage industry to increase their revenue,” says a Future Market Insights analyst.
Competitive Landscape
Leading Riboflavin Pigment market firms are BASF SE, Advanced Technology and Industrial Co. Ltd., Parchem fine and Speciality Chemicals, Sensient, Kanegrade Ltd., Merck & Co. Inc., Chr. Hansen Holding A/S, Kalsec Inc, Sensient Technology Corporation, DESANO, NB Group, Hubei Guangji Pharmaceutical, Ningxia Qiyuan Pharma, Hebei Shengxue Dacheng, Xinfa Ltd. among others. Emphasis is given on the merger, expansion, acquisition, and partnership with regional companies as well as continuous R&D to advance the production of riboflavin.
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About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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