The global food colors market is forecasted to advance at a moderate CAGR of 5.8%, promising to reach US$ 8.46 billion by 2034. The market valuation of the said market by 2024 will be US$ 4.83 billion. The market was valued at US$ 4.76 billion in 2023. Various market drivers are expected to enhance the industry’s overall market valuation.
The global food color market was valued at US$ 4.76 billion at the end of the historical period. This market valuation can be attributed to a moderate CAGR of 5.3% between 2019 and 2023. The market’s growth in the said period was mainly due to customers’ rising demand for natural food colors that could meet their expectations of healthy food products.
Consumers are increasingly mindful of the ingredients used in their food, leading to a higher demand for natural food colors over synthetic alternatives. Natural food colors are particularly popular in the expanding organic foods market.
The global food colors market is primarily driven by the growing demand for innovative food options, as well as changing taste preferences and the influence of social media. Additionally, increased consumer awareness of clean-label food products and the added health benefits associated with certain natural food colors are expected to contribute to market growth.
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Food Color Market Drivers
- Natural food colors are costlier than synthetic colors, so the demand for synthetic colors has been rising. Also, natural colors offer less stability. They easily decolor food, causing food sellers to suffer losses as food loses its appearance. Hence, the demand for synthetic colors drives the market.
- Consumers have been relying more on the appearance of the food. Hence, producers must emphasize enhancing the food’s appearance. This surges the demand for food color, driving the said market.
- More food is being consumed worldwide. To fulfill the rising demand, many food colors are required, which surges the production of food colors. Hence, this is another market driver.
- The increase in bakery products in developing countries has sparked the demand for artificial colors for these products. Consequently, this is another market driver for the subject market.
Leading Companies Profiled in Food Colors Market are
- Archer Daniels Midland Company
- Allied Biotech Corporation
- DIC Corporation (BASF SE)
- BioconColors
- DDW, The Color House
- Döhler Group
- GNT International B.V.
- Kalsec Inc.
- DSM
- Naturex S.A.
- ROHA ( A JJT Group Company)
- San-Ei Gen F.F.I., Inc.
- Sensient Colors LLC.
- Symrise AG
- Chr. Hansen Holding A/S
- Others
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“Increasing demand for Food Colors, especially Natural Food Colors from various end-use industries, including bakery & confectionery, dairy products, food & beverages, meat & poultry, and seafood will continue augmenting growth in the market. Hence, there is a huge scope for market players to command over the ballooning demand for natural food colors, especially if they have competitive prices. To gain a competitive edge, the market players should focus on expanding their production facilities into emerging economies and strive to make costs as low as possible along with quality assurance.” Says a Future Market Insights Analyst
Competitive Landscape
Food Colors Market players have been modifying the product to attract end-user industries and consumers. They have been exploring the Natural food colors territory along with making technical strides in other food color palettes.
- Manufacturers such as Chr. Hansen Holding A/S is improvising on the products by investing in research and development, launching new ones, and acquiring regional innovative units. Manufacturers are diversifying towards various applications in pet foods to expand the food colors consumption. Besides this, they are focusing on better distribution channels like e-commerce to gain a competitive edge.
- In 2021, GNT Group launched coloring foods made from turmeric and spirulina for helping the cost-effective green, clean-label food ingredients sector.
- In 2020, Phytolon, an Israeli start-up firm secured funding of USD 4.2 million for their fermentation-based technology to create natural, high-quality food colorings.
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Food Colors Market by Category
By Color Palette, Food Colors Market is Segmented as:
- Natural Food Colors
- Synthetic Food Colors
- Caramel Food Colors
- Titanium Dioxide Food Colors
On the basis of form, the food colors market has been segmented as follows:
- Liquid
- Powder
- Gel
On the basis of solubility, the food colors market has been segmented as follows:
- Dyes
- Lakes
By Application, Food Colors Market is Segmented as:
- Beverage
- Bakery, Snacks, and Cereals
- Candy/ Confectionery
- Dairy
- Fruit Preparations/ Fillings
- Meat, Poultry, Fish, and Eggs
- Potatoes, Pasta, and Rice
- Sauces, Soups, and Dressings
- Seasonings
- Pet Food
By Region, Food Colors Market is Segmented as:
- Global
- North America
- Latin America
- Europe, Middle east and Africa, and India
- Asia Pacific
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