The global allura red AC market (Allura Red AC-Markt) is set to witness growth at a CAGR of 6.01% to reach a market valuation of USD 245 Million by 2032.
The rising demand for food colorants in the food and beverage sector is fueling the growth of the global Allura Red AC market. This market is expanding due to increased consumption of ice creams, sausages, candies, soft drinks, dairy products, sugar confections, baked goods, flour-based treats, frozen foods, and gelatin desserts.
Additionally, the market is benefiting from declining prices of synthetic colors and the easy availability of raw materials, which supports overall industry growth.
The US and China lead the Allura Red AC market, accounting for over 35% of total sales. According to market analysis, increasing disposable incomes in regions such as Asia-Pacific, the Middle East, Latin America, and Africa are enabling consumers to purchase more ready-to-eat packaged foods, thereby boosting the use of red food colorants.
The allura red AC market around the world is impelled by the highly growing demand for unique-looking food dishes, innovative altering tastes, and food appeal preferences. This trend has been pushed further due to the advent of social media engagement among the populations worldwide.
Stringent regulation, competition from natural food colorants, and misperceptions about allura red AC among consumers remain a key restraints to the allura red AC market.
In terms of the adoption of allura red AC products, China has the largest proportion of the global market. In the APEJ region, the allura red AC market is predicted to rise at a significant rate.
In European nations such as Denmark, Belgium, France, and Switzerland, the adoption of allura red AC is prohibited. The FDA has approved allura red AC for use in cosmetics, medicines, and food in the United States. Because of the scarcity of raw materials in MEA, the global adoption of allura red AC food colourants is lower than in other parts of the world.
Key Takeaways from Market Study
- Allura red AC dyes exhibited a sale of about 18,000 metric tons in 2021 and the market assessment suggests that the demand for allura red AC colorants sector is expected to be at approximately 34,000 metric tons by 2032.
- In Europe, the Middle East, Africa, and India which is profiled as the EMEAI region, the demand for allura red AC food colors is expected to grow at 5.7% CAGR between 2022 and 2032.
- The North American allura red AC market is expected to register a 5.2% CAGR between the assessment period of 2022 and 2032. This is lower than the average food colors industry because of the rising inclination in the region towards natural food colors.
- The carbonated drinks, breakfast cereals, compound coatings, fruit fillings, and alcoholic drinks sub-are the leading food and beverage applications in the allura red AC market.
- The Seasonings industry for allura red AC consumptions has been ballooning in the recent past and there has been good traction from this industry for synthetic food colors. The seasonings’ consumption of allura red AC is expected to register a CAGR of 6.3%.
“Companies dealing in Allura Red AC food colorants would gain significantly by targeting the subsegments like soups, sauces, and seasonings. Synthetic food colours are still the go-to choices for newer food processing units due to their affordability and accessibility. Exploring developing economies and establishing strategic alliances with global food and beverage brands would immensely help Allura Red AC food colorant brands,” says a Future Market Insights analyst.
Competitive Landscape
Allura red AC companies have been modifying the product to attract end-user industries and consumers. It is primarily available in granulated red, brown powder form but is also converted into an aluminum lake. Manufacturers are consistently looking to diversify allura red AC into various other convenient forms like gel and pastes.
Allura red AC manufacturers are also diversifying towards various other food industry applications like pet foods and edible cosmetics by the means of acquisition and collaboration.
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Frequently Asked Questions
- How big is the Allura Red AC Food Colorant Market?
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