The global food colors market is projected to reach a market valuation of USD 2.6 billion by the year 2022, accelerating with a CAGR of 7.3% by 2022-2032.
According to FMI analysis, the food colors market is projected to reach a market value of approximately USD 5.3 billion by 2032. In 2021, the market witnessed a consumption of over 185,000 metric tons, which is expected to increase to about 340,000 metric tons by 2030.
FMI’s market research also indicates that the demand for natural food colorants is projected to grow at a rate of 8.1%, making it the fastest-growing segment during the forecast period. This can be attributed to the increasing importance of natural food ingredients and the need for traceability of their origin and extraction process, largely due to the impact of COVID-19.
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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Key Takeaways from the market study
- The global food colors market showed growth at 6% CAGR during the last five years.
- Natural food colors are exorbitant in comparison with their counterparts, this is evident as it accounts for over 67% of sales by value but only 26% by volume of the overall food colors market.
- By application, the beverage segment has over 22% of the food colors market share. Also, the demand for beverages is expected to accelerate with a CAGR of 5.8% through the course of the assessment period.
- Among beverages, carbonated soft drinks consume the most food colors. This sub-segment utilized approximately 8000 metric tons of food colors in 2021 worldwide.
- Water-soluble food colors, i.e, dyes commanded the bigger share of the global food colors market over lakes. The water-soluble food colors have always witnessed a huge demand from the food and beverage industry due to their properties like excellent quality-price ratio, highly concentrated color, and high stability in water.
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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
“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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