The global market for plant-based food colors is projected to reach USD 15.80 billion by 2032, up from USD 9.42 billion in 2022, with a compound annual growth rate (CAGR) of 5.3% over the forecast period.
These natural food colors derive from plant-based sources such as carrot, beetroot, turmeric, and kale, among others.
Increased sales of plant-based food colors reflect a growing consumer preference for natural and organic food products, driven by health-conscious choices.
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In recent years, a significant number of people have transitioned to vegetarian and vegan diets, which has in turn boosted the demand for plant-based food colors.
The rising consumption of clean-label products and a growing preference for environmentally friendly options are also contributing to this increased demand.
The plant-based food colors market is experiencing substantial growth as manufacturers utilize various plant-based materials to create visually appealing food colors. With ongoing efforts to discover new plant sources for vibrant color shades, the food and beverage industry is seeing a heightened demand for innovative plant-based food colors.
Plant-based food colors are derived from natural ingredients such as kale, carrot, and beetroot. The growing awareness of the advantages of these natural colors, along with the health risks associated with synthetic alternatives, is driving their increasing market share.
As health consciousness rises and consumers favor environmentally friendly products, the demand for plant-based food colors is expected to grow during the forecast period.
These natural colors are known for being non-toxic or less toxic compared to synthetic options, causing fewer side effects, and are also seeing a gradual increase in therapeutic applications.
Notable Players in the Plant Based Food Colors Market
Some of the most notable players in the plant-based food colors market are Archer Daniels Midland Company, D. Williamson & Co. Inc., Sensient Technology Corporation, Dohler Group, Hansen A/S, FMC Corporation, Givaudan, Kalsec Inc., BASF SE, Akay Group, Plant Lipids, AVT Natural Products, and NATUREX Group.
Key Developments in the Plant-Based Food Colors Market
Some of the notable developments in the plant-based food colors market are:
- In January 2017, ColorKitchen launched a new line of natural food coloring sets and sprinkles. These natural food colors set and sprinkles are vegan, gluten-free, and non-GMO. These products are made from natural and simple plant-based materials such as spirulina, turmeric, beet, and annatto. The available food color sets are yellow, blue, and pink, with multicolored rainbow sprinkles.
- In March 2020, Givaudan (a global leader in flavors) launched a line of natural red colors for plant-based proteins and plant-based meat. The new plant-based red color will give the plant-based patties a meat-like color.
- In 2018, Givaudan acquired Naturex, plant extracts manufacturing company. This acquisition will help Givaudan in enhancing its natural and plant-based color line.
- In April 2019, Perennial launched a plant-based RTD beverage for the old age population. The beverage is free from synthetic colors, gluten, artificial sweeteners, and lactose, and with no cholesterol.
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Key segments profiled in the Plant based Food Colors Market
By Type:
- Carotenoid
- Anthocyanin
- Chlorophyll
- Annatto
- Paprika Extract
- Spirulina Extract
- Turmeric
- Beet
- Others
By Application:
- Bakery & Confectionery Products
- Beverages
- Packaged Food/Frozen Products
- Dairy Food Products
- Others
By Form:
- Liquid
- Powder
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