The market for riboflavin pigment is expected to experience spectacular growth between 2023 and 2033, with a noteworthy CAGR of 6.1%. A confluence of elements fuelling the market’s expansion fuel this thriving trajectory. The rising demand for natural food colors, driven by a growing consumer preference for pure and unadulterated sustenance, is a crucial catalyst. People are actively looking for natural substitutes as awareness of the potential risks linked with artificial food colors increases. Riboflavin has become a magical remedy free of dangerous additives or toxins. Manufacturers of natural and organic food products have been enthralled by the attraction of riboflavin, raising its importance and supporting the market’s growing trend.
Request Your Sample Report Today: https://www.futuremarketinsights.com/reports/sample/rep-gb-15620
Key Takeaways
- With a strong growth rate of 17.7% in the riboflavin pigment industry, the United States stands out. This remarkable growth can be due to rising consumer demand for natural food colors, which is being fueled by trends toward clean labels and a focus on health.
- Germany exhibits a noteworthy 6.6% growth rate. The demand for riboflavin as a clean-label option has increased as a result of the nation’s attention to the quality and safety of food items, as well as the growing desire for natural food colors.
- The riboflavin pigment market in Japan is expanding at a consistent 4.5% annual rate. The use of riboflavin as a natural and healthy substitute is the result of the nation’s modern food and beverage sector and growing awareness of the negative effects of artificial food colors.
- The riboflavin pigment market in Australia is expanding at a moderate rate of 2.0%. The nation’s preference for natural and organic food goods is what’s driving the market’s growth, and riboflavin is quickly becoming a top choice among producers seeking clean-label formulas.
- The riboflavin pigment market in China is growing at a considerable rate of 10.6%. The country has a sizable population, and consumer preferences are shifting towards natural food colors, which has led to a surge in riboflavin demand. Additionally, China’s growing food and beverage sector offers prosperous chances for market expansion.
Competitive Landscape
Due to a number of important considerations, the market for riboflavin pigment is very competitive. The similarity of the products that various market participants offer heightens competitiveness. With so many options available to them, brand loyalty is less likely. The market’s relatively low entry barriers make it simple for new businesses to enter and compete, increasing competition.
BASF SE
One of the world’s largest producers of riboflavin pigment is BASF SE, a multinational chemical corporation based in Germany. The business has a significant global footprint and provides a variety of riboflavin pigment products.
Allied Biotech Corporation
Allied Biotech is a leading manufacturer of natural food colors and is based in China. The business provides both natural and artificial riboflavin pigment in its extensive line of products.
Adisseo France SAS
Adisseo is a well-known manufacturer of animal nutrition products in France. For use in animal feed, the company provides a variety of riboflavin pigment products.
BASF Corporation
One of BASF SE’s US subsidiaries is BASF Corporation. The business provides a variety of riboflavin pigment goods for use in alcoholic beverages, food, and other industrial uses.
Key Developments
- Increased application in diverse industries: The market for riboflavin pigment is expanding outside the food and beverage industry. Animal feed, cosmetics, and pharmaceutical industries are just a few where riboflavin is used. This expansion of utilization generates new opportunities for market expansion and raises demand for riboflavin pigment.
- Technological advancements in production processes: The manufacture of riboflavin pigment is becoming more effective and scalable thanks to ongoing developments in production methods, including fermentation and biotechnological procedures. These technological advancements boost market expansion further by increasing yields, reducing costs, and improving product quality.
Maximize Growth Potential Grab Your Report Today: https://www.futuremarketinsights.com/checkout/15620
Riboflavin Pigment Market by Category
By Form:
- Powder
- Liquid
By Source:
- Plants
- Animals
By Application:
- Bakery & Confectionery Products
- Beverages
- Fruit Preparations/ Fillings
- Dairy Food Products
- Potatoes, Pasta, and Rice
- Soups, Sauces, and Dressings
- Meat, Poultry, Fish, and Eggs
- Seasonings
- Others
- Cactus Fruits
- Others
By Region:
- North America
- Latin America
- Europe
- Asia-Pacific
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
