Recently published vegetable carbon market analysis shows that global demand for vegetable carbon increased by year-on-year (YoY) growth of 2.7% in 2021. The sales of vegetable carbon are expected to grow steadily, with a total valuation reaching US$ 7.1 Mn in 2021.
Vegetable carbon has negative side effects, is almost flavorless, and can be used in both sweet and savory dishes, which makes it ideal for application in the food sector. According to the study, the candy and confectionary segment accounted leading share in market in terms of application. It is expected to represent 23.7% of sales registered in the vegetable carbon market in 2021.
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Key Takeaways from the Vegetable Carbon Study:
Vegetable carbon market is expected to total US$ 7.1 Mn in 2021.
China is expected to emerge as a highly lucrative for vegetable carbon within East Asia. Demand registered in China will grow by 4.3% CAGR over the forecast period.
The demand for vegetable carbon will rise at 3.5% CAGR over the forecast period in Japan.
Driven by rising demand for chemical free food additives, the sales of vegetable carbon will increase at 2.7% in Germany by 2031.
France will emerge as a highly lucrative vegetable carbon market in Europe, exhibiting 3.6% CAGR between 2021 and 2031.
“Rising the use of vegetable carbon in foods and drinks, as well as in biscuits, desserts ice-creams, breads, and burgers among others will steer growth in the market. As demand for natural food colors rise, market players are expected to focus on product launches to capitalize on existing opportunities” said a lead analyst at FMI.
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Consumer Preference for Natural Colorants & Ingredients Driving Sales
Food additives are added at numerous levels of food manufacturing for two reasons: to make the food secure by stopping bacteria growth, oxidizing formation, and other biochemical processes, and to enhance customer taste by boosting sensory attributes such as colour, visual appeal, flavour, and smell.
Natural food colorants are increasingly replacing synthetic alternatives. Food colors derived from natural sources are known to have numerous benefits when consumed. As a result, they are in high demand due to their long or short-term health.
Natural colorants are perceived safer by consumers. Hence, they are favoring vegetable carbon black in place of artificial black food color in their food and beverages.
Who is Winning?
Some of the leading firms offering vegetable carbon are DDW The Colour House, Dynasty Colourants Co., Hawkins Watts Limited, Holland Ingredients, Jacobi Carbons, American Activated Carbon, Chr. Hansen Holding A/S, Bolise Co., Ltd. and many others.
In order to gain competitive strength, the market players are focusing on product launches and acquisitions. Some of the productions are expanding network in emerging economies to capitalize on existing opportunities.
Get Valuable Insights into Vegetable Carbon Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Vegetable Carbon presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the vegetable carbon based on application (beverages, bakery, snacks & cereals, candy/confectionery, dairy, fruit preparation/fillings, meat, poultry, fish & eggs, potatoes, pasta & rice, sauces, soups, & dressings, seasonings, and pet food) across five major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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