The chlorophyll color market is projected to reach US$ 151 million in 2023, with an expected growth to US$ 370.3 million by 2033, at a significant CAGR of 9.0%.
Chlorophyll color manufacturers are implementing robust go-to-market strategies such as collaborations, partnerships, mergers, and divestitures, in addition to focusing on organic tactics to gain competitive strength. FMI projects the global market to rise at 9.2% CAGR in terms of volume through 2031.
Key Companies Profiled: CHR Hansen Holding A/S (Denmark), Koninklijke DSM N.V. (Netherlands), Sensient Technologies Corporation, Archer Daniels Midland Company , Döhler Group (Germany), D.D. Williamson & Co., Inc., Naturex S.A. (France), Aromata Group S.r.l (Italy), Kalsec Inc. etc.
Key Countries Covered: United States, Can
ada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa., etc.
How is the Growing Demand for Shelf Stable Food Color Affecting Sales?
Factors such as extreme temperature, moisture control, measurement of color loss due to light exposure, and color variation significantly impact a food product’s shelf life. As food manufacturers are scrambling to achieve desired food color and stick to the natural ingredient, the adoption of chlorophyll color is expected to improve.
Food color manufacturers have created shelf-stable colorants with a consistent pH level for use in different applications such as beverages, bakery, snacks, & cereal, candy/confectionery, dairy, and others. Hence, the growing demand for shelf-stable colors is likely to propel the market’s growth.
How is Rising Demand for Natural and Plant Based Food Ingredients Bolstering Growth?
Demand for plant-based food ingredients and natural products is surging amidst a growing trend of veganism across the globe. Hence, food ingredient manufacturers are marketing their products with desirable claims such as non-GMO, kosher, gluten-free, vegan, halal, and allergy-free to attract consumers. In addition to this, the launch of new allergen-free products from food product manufacturers is fueling the demand for natural food colors. For instance- Nestle SA introduced a new allergen-free chocolate chip product line for baking.
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Country-wise Insight
Why is the United States a Key Influence in the North America Chlorophyll Color Market?
In North America, the United States chlorophyll color market is estimated to acquire 32.7% of the market share in 2022, according to Future Market Insights. Growth in the country is primarily attributed to the growing demand for processed food products in the United States. In addition to this, the increasing application of bakery products is one of the key drivers of the market. According to EU Commission, the United States is one of the leading markets for bakery industries across the globe, with estimated 9,000 leading bakeries, out of which 6,000 are retail bakeries and 3,000 are retail bakeries.
Consumers in the United States are becoming more conscious of the ingredients used in bakery products and their sources. Natural food colors are gaining more popularity across North America as consumers opt for chemical-free bakery and confectionery products.
What is Driving the Chlorophyll Color Market in Germany?
In EMEAI, Germany is expected to be the leading market, accounting for US$ 8.7 million in 2021, and had poised to capture 10.0% of value share in 2022.
Demand for premium pet food has increased on account of the rise in pet ownership and humanization in Germany. Consumers’ awareness regarding the food their pets consume has increased. They also are willing to pay more to provide their pets with the best possible care and nutrition. Several manufacturers are therefore including natural food additives to deliver excellent quality pet food and to cater to the changing consumer preference. Hence, the growing demand for premium pet food is expected to create attractive prospects for growth across Germany.
Why have China and Japan Emerged Dominant in the APAC market?
According to FMI’s analysis, the China market is estimated to total US$ 11.8 million in the year 2021. It is projected to register growth at 6.7% over the forecast period.
Meanwhile, the Japan market is expected to surpass US$ 7.0 million in 2021, exhibiting growth at over 9.0% during the forecast period.
Rising disposable income in China and Japan has led to a significant shift in consumer lifestyles. Thus, their willingness to spend on organic and clean-label food products has increased. Consequently, there is a rise in demand for natural and organic food products, likely to drive chlorophyll color market growth across China and Japan.
What are the Key Factors Propelling the Growth of the Chlorophyll Color Market in India?
India has emerged as the prominent market for chlorophyll color in EMEAI, totaling US$ 6.0 million in 2021. Growth is attributable to the growing trend of veganism in the country, which is increasing the consumption of organic and natural food products.
On the back of this, India’s chlorophyll color market is expected to record a CAGR of 4.5% to reach US$ 15.3 million by 2031.
Consumers in India are willing to pay a higher amount for high-quality products. Acknowledging the opportunity, food product manufacturers have increased the adoption of natural ingredients in their products to increase offer improved food quality.
What is Driving the Sales of Chlorophyll Color in Brazil?
As per Future Market Insights, Brazil chlorophyll color market is expected to surpass US$ 2.9 million in 2021, exhibiting at 10.1% CAGR. Increasing awareness regarding health and wellness is expected to improve the consumption of organic food products in Brazil.
Consumers in Brazil are concerned about their health and are avoiding food items that contain artificial substances, chemicals, or synthetic additives. As a result, manufacturers are extensively using organic and natural ingredients. Backed by these factors, the Brazil market is estimated to reach US$ 7.6 million by the end of 2031.
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Competitive Landscape
The market is relatively consolidated, with a few leading players holding significant market shares. These companies have established strong brand recognition and have a wide distribution network, allowing them to reach a large customer base. In addition to the key players, more petite and emerging companies in the market focus on niche segments or specific applications. Moreover, sustainability and environmental considerations are increasingly becoming important in the chlorophyll colors market. Companies are focusing on developing eco-friendly and natural alternatives to traditional colorants, aligning with the growing consumer demand for sustainable and clean-label products.
Symrise AG, a taste and fragrance manufacturer, introduced an emollient with antibacterial qualities that protects the skin from head to toe in July 2022. Among other things, the substance aids with dandruff control strategies. It also works well with acne-prone and greasy skin care products.
Symrise AG, a taste and fragrance manufacturer, constructed a factory in Grasse for Maison Lautier 1795 in June 2022 to strengthen its position in natural raw materials. In addition to its existing facilities in Holzminden, Germany, and Madagascar.
Chlorophyll Color Market Segmentation
By Nature:
- Organic
- Conventional
By Application:
- Beverage
- Bakery, Snacks, & Cereal
- Candy / Confectionery
- Dairy
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Potatoes, Pasta, & Rice
- Sauces, Soups, & Dressings
- Seasonings
- Pet Food
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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