The market valuation of the global food color market was USD 4.76 billion in 2023. This market valuation is estimated to reach USD 4.83 billion in 2024. In addition, the moderate CAGR of 5.80% shall elevate the market valuation to USD 8.46 billion by 2034. This market development is influenced by various critical market forces that help the market grow.
Consumers have started to become more aware of their physical health, which raises concerns regarding healthy food and diet. Due to this, consumers have been demanding natural additives. This surges the demand for natural colors in food, which acts as one of the key market drivers.
Due to intercultural exchange, various global cuisines have crossed borders to reach different parts of the world. This emphasizes the demand for colors to give a conventional appearance to the cuisine, which is another market driver for the subject market.
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Food appearance has gained significant importance. Due to this, cuisine preparation needs to be attractive. Consequently, to enhance the look of a dish, the use of colors has become common, which surges the demand for colors. As a result, this creates another crucial market driver for the said market.
Marketing channels have gained rising importance, emphasizing the look of a dish or beverage. Due to this, the rise of media marketing channels surges the demand for food additives. Thus, the changed marketing landscape is playing a role as the market driver.
Key Takeaways from the Market Study
- The market’s CAGR from 2019 to 2023 was 5.3%, which rose to 5.8% from 2024 to 2034. This is an optimistic scenario for the subject market.
- Food manufacturers use vibrant colors more to attract consumers. However, excessive additives might affect human health, which is one of the key hindrances for the market.
- The United States of America leads North America. It forecasts progress at a moderate CAGR of 5.5%.
- Germany leads the European market, wherein the rising population has been one of the key factors for the market progress. It estimates the market advancement at a CAGR of 5.5%.
“The increased consumption of bakery items has surged the demand for food additives, particularly synthetic colors, to increase their shelf life and appearance. This has been driving the market segment significantly, contributing to its growth,” claims the FMI analyst.
Competitive Landscape
The discrete distribution of competitors globally creates several opportunities for new entrants. However, the global canvas creates various challenges for the players, as different countries have different laws and regulations for food additives.
Competitors bolster their market presence through various market strategies, including strategic alliances, partnerships, mergers and acquisitions, product development, and many other key strategic initiatives. These moves help marketers gain a competitive advantage.
- In April 2019, Archer Daniels Midland Company innovated micronized color powder and added it to the organization’s existing product line.
- In December 2021, Givaudan acquired DDW, which helped the business to penetrate the global market. The distribution network could be bolstered through this initiative.
- In June 2022, Sensient Technologies Corp. acquired Endemix Doal Maddeler AS, which developed the business’s working market verticals.
More Valuable Insights Available
Future Market Insights offers an unbiased global food color market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The food color market is segmented based on color type (natural and synthetic), end-use application (beverage, bakery, snacks and cereal, dairy, fruit preparations/fillings, meat, poultry, fish and eggs, sauces, soups and dressings, seasonings, and pet food) and form (liquid, powder and gel) across seven major countries (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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