According to Future Market Insights (FMI), the caramel food colours market is anticipated to be worth US$ 185 million in 2023. The whole market value is expected to reach US$ 466.9 million by 2033, increasing at a 10% CAGR through 2033.
The market for caramel food colours is expanding due to a growing preference for foods that are not only appealing but also nutritional and wholesome. Furthermore, the rising use of caramel food colours in soy sauce, seasonings, breads, pet foods, and cereals is enhancing sales potential.
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Aside from these, the rising potential for application in bread and confectionary items is offering profitable growth opportunities. Consumer expenditure on speciality and decorative food products will drive demand even higher.
Because of its stabilising and colouring characteristics, caramel (sulphite ammonia) is gaining popularity in the food and beverage business. According to FMI, the segment will account for more than half of the market in 2021.
Regionally, North America will emerge as a highly lucrative market. Growth prospects for the U.S. market remain positive driven by increasing demand for chocolates in the country. Caramel food colors are often included in chocolates. Considering this, rising chocolate sales will remain a chief growth driver for the market in the U.S.
Manufacturers are focusing on expanding their premium product lines by incorporating novel flavors and colors such as candy-coated lentil, liquor-flavoured caramels, and caramel-centered products.
“Leading market players are focusing on new product launches to address the evolving needs of consumers across the globe. Besides this, the increasing emphasis on acquisitions and partnerships programs is bolstering growth prospects for the market,” said a FMI analyst.
Key Takeaways from Caramel Food Colors Market Survey
- Driven by rising demand for chocolates, the U.S. is estimated to account for 84.7% of North America market in 2021.
- India market for caramel food colors is projected to reach a valuation of US$ 8.3 Mn in 2021.
- Backed by increasing usage of caramel food colors in energy drinks, China is likely to grow at a CAGR of 7.4%.
- Brazil is anticipated to account for over 48.5% of the Latin America market owing to increasing demand for caramel food color in the local beverage industry.
- Germany is leading the caramel food colors market in Europe and is expected to account for 23.1% of the overall market share in 2021.
Key Drivers
- Rising application in bakery and confectionary sectors is propelling scope for expansion of the market.
- Rapid growth witnessed in the convenience food industry is expected to accelerate the sales of caramel food colors.
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Competitive Landscape
Caramel food colors manufacturers are undertaking acquisitions and partnerships to gain a strong foothold in the market.
For instance, in 2018, Roquette announced the completion of acquisition Sethness Products Company, a leading manufacturer of caramel colors for food and beverage applications. This acquisition aligns with Roquette’s growth strategy focused on expanding its portfolio of food, nutrition and health to address the needs of existing as well as new customers.
In 2021, Chr. Hansen Natural Colors, a global leading provider of natural colors announced the acquisition of SECNA Natural Ingredients Group to expand its strong pigment portfolio.
Some of the leading players operating in the caramel food colors market profiled by FMI are:
- BioconColors
- DDW, The Color House
- Döhler Group.
- Kalsec Inc.
- DSM
- Naturex S.A.
- Others
More Valuable Insights on Market
FMI, in its new report, offers an unbiased analysis of the global caramel food colors market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in caramel food colors market with detailed segmentation:
By Type:
- Caramel (Plain)
- Caramel (Caustic sulphite)
- Caramel (Ammonia)
- Caramel (Sulphite ammonia)
By Application:
- Beverage
- Milk Drinks & Milk Alternatives
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Sports Drinks
- Coffee & Cocoa
- Tea
- Energy Drink
- Juice Based Drinks
- Flavored water
- Enhanced Water
- Sparkling Waters
- Bakery, Snacks, & Cereal
- Breakfast Cereal
- Bread
- Cakes & Pastries
- Cookies
- Biscuits & Cones
- Frosting / Icing
- Crackers & Savoury Snacks
- Candy / Confectionery
- Panned Candy
- Chocolate & Compound Coating
- Gummies
- Chewing Gum
- Jellies & Licorice
- Sprinkles & Sugar
- Hard Candies / Boiled Sweets
- Dairy
- Cheese
- Ice Cream
- Milk Drinks & Milk Alternatives
- Pudding / Custard
- o Dips & Spreads
- Yogurt
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Casings
- Egg & Egg Substitute
- Fish / Seafood
- Jerky
- Meat Substitute
- Processed Meat & Poultry
- Potatoes, Pasta, & Rice
- Pasta
- Potato Chips / Crisps
- Processed Potatoes
- Rice
- Sauces, Soups, & Dressings
- Asian Sauces
- Barbecue & Steak Sauce
- Condiments
- Gravy / Dry Sauce Mix
- Marinade
- Oils & Dressings
- Seasonings
- Batter
- Breading and Coating
- Bouillon / Soup Base / Stock
- Liquid Smoke
- Spice Blends / Dry Seasonings
- Pet Food
- Extruded / Dry Pet Food
- o Snacks / Treats
- Wet Food
By Region:
- North America
- Latin America
- EMEAI
- APAC
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Key Questions Covered in the Caramel Food Colors Market Report
- The market survey also highlights projected sales growth for caramel food colors market between 2021 and 2031
- The report offers insight into caramel food colors demand outlook for forecast period 2021-2031.
- Caramel food colors market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Caramel food colors market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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