Americas Hold the Largest Market Share in the Food Colors Market:
In 2017, Americas region holds the largest market share in the Food Colors Market. However, the Asia-Pacific region holds the highest growth rate in the Food Colors Market by 2023 The growth in APAC region is owing to the high demand from emerging economies such as India, China, South Korea, and others. In addition, the increase in consumer expenditures in these countries for food & beverages leads to the increased use of natural food coloring, thereby driving the food color market. The key applications in this region include beverages and confectionery among others.
Selected Industry Analysis Done in the Full Report:
Food Colors are derived from a variety of sources such as fruits and vegetables, seeds, algae, insect and mineral.
Saffron is one of the predominant natural food dyes that has been used to color certain food products since ancient times.
In U.S. there are nine color additives; those are certified and approved for use such as annatto extract (yellow), dehydrated beets (bluish-red to brown) caramel (yellow to tan), β-carotene (yellow to orange), grape skin extract (red, green) and others.
The most widely used colorants are caramel, chlorophylls green, saffron, turmeric, carotenoids, cochineal extract, and anthocynanins.
The restrictions related to regulations are less for natural colors compared to those of synthetic.
Albeit, synthetic colors dominated the industry initially, the current trend is revolving around natural colors. This trend is a result of increased awareness among people.
The artificial dyes successfully replace salt that was used to preserve fishes and meat and keep them afresh.
Although the cost of producing synthetic color is less as compared to natural colors, there is a huge demand for naturally derived colors.
The demand is high for colors that are extracted from plant tissue culture-based raw materials that provide color consistency.
Betanin, a natural food colorant, is used for its antioxidant properties. Red sandalwood has Ayurvedic properties.
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Excerpts on Market Growth Factors:
The increasing emphasis on health and the rising consciousness about serious health hazards of synthetic colors are primarily driving the natural food colors market globally.
The market for carbonated soft drinks and non-alcoholic beverages are anticipated to witness largest growth rate of over 6% during the forecast period.
The meat products segment will account for the highest share in the Food Coloring Market, registering a CAGR of 10.4% during the forecast period. This segment has been driven by its increased daily consumers.
The natural food color is, by and large, the most in-demand segment accounting for over 70% of the total market revenue. The market is projected to reach $1.1 billion by 2019.
Globally, various entities test food colorings for safety and each body has different perspective with respect to the safety.
In U.S. 50% of the drinks use natural sources for coloring. As a result, the demand for the product is anticipated to grow exponentially during the forecast period.
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Key Players of Food Colors Market:
The key players profiled in the report include Archer Daniels Midland Company, Kalsec Inc., Chr. Hansen A/S, Fiorio Colori SPA, FMC Corporation, Dohler Group, Sensient Technologies Corporation, D.D. Williamson & Co. Inc. (DDW), Koninklijke DSM N.V., and Naturex SA.
The other players in the value chain are Symrise AG, International Flavors & Fragrances Inc., Kerry Group Plc, Givaudan SA, Royal DSM N.V.
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