The global food colors market size is predicted to reach USD 7.58 billion by 2032, exhibiting a CAGR of 8.11% during the forecast period. Natural and artificial food coloring are the most widely used types. A vast array of artificial food colors are now accessible for use in processed food and beverage items thanks to advancements in food technology. Synthetic food coloring gives processed food and beverage items bright colors and an enticing appearance. Among the common artificial food colors are amaranth, carmoisine, green, yellow, red, and blue. Food and beverage producers typically choose synthetic colors because they are less costly and can effectively impart a rich, consistent color to the finished product. Additionally, they combine easily to produce a wide spectrum of hues for use in bread, confectionery, and beverage items.
Information Source: https://www.fortunebusinessinsights.com/food-colors-market-102644
According to the published report by Fortune Business Insights, titled “Food Colors Market Size, Share & Industry Analysis, By Type (Natural, Synthetic, Naturally-identical, Caramel, and Others), Source (Plant and Animal, Chemicals, and Others), Application (Processed Foods and Beverages), and Regional Forecast, 2019 – 2032” the market size stood at USD 2.55 billion in 2018.The food colors market report is fixed at delivering a comprehensive description of the market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the food colors market. It further examines the ways and components convincing expansion, growth patterns, restricting factors, and market strategies.
Competitive Landscape:
Launch of Technology Centre by Symrise to Boost Market Prospects
Symrise AG, a global leader and producer of flavors and fragrances launch its new Asia-Pacific Flavor Innovation and Technology Centre. The Centre is aimed to contribute to Asia’s regional food & nutrition hub, whilst boosting the local food manufacturing capabilities. The announcement of the Innovation and Technology Centre will bolster healthy growth of the market in the forthcoming years owing to the 30 € million expansion of its regional headquarters in Singapore, which will help food manufacturers in many ways. Furthermore, Chief Executive Officer of Symrise AG, Dr Heinz-Jürgen Bertram, said in a statement, “Asia is fast becoming one of the main global sources of influence and inspiration for innovative food products. And major centres for business, lifestyle, technology, health and nutrition like Singapore will be at the heart of this megatrend. He further added, “Similarly, Singapore will continue to be within the heart of our growth story and I believe the new research and innovation facilities will ignite greater collaboration, connectivity and creativity among industry stakeholders, that will further develop Singapore’s food research and manufacturing industry capabilities.” In addition, the growing consumption of food items among general population will subsequently aid the expansion of the food colors market.
Regional Analysis:
High Consumption of Packaged Food to Promote Growth in North America
North America generated a revenue of USD 667.77 million in 2018 and is predicted to witness high growth during the forecast period owing to the growing demand for natural food colors among manufacturers. The rising number of bans on synthetic colors for ecological and toxicological reasons will positively contribute to the growth of the market in North America. The increasing westernization and commercialization will bolster healthy growth of the market in the region. The rising demand for carbonated drinks will fuel demand for natural and synthetic colors, which, in turn, will augur well for the market. The growing consumption of ready-to-eat snacks will create opportunities for the market in Asia Pacific in the forthcoming years. The surge in working population along with rising disposable income will stimulate growth in the countries of Asia Pacific
The Report Lists the Main Companies in the Food Colors Market
- Dohler Group
- Archer-Daniels-Midland Co.
- Symrise AG
- Ingredion, Inc.
- Sensient Technologies
- Kalsec, Inc.
- DDW, Inc.
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