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. 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 two most common types of food coloring are natural and artificial. Thanks to developments in food technology, a wide variety of artificial food colors are now available for use in processed food and beverage products. Processed food and drink products have vibrant hues and an alluring look thanks to synthetic food coloring. Amaranth, carmoisine, green, yellow, red, and blue are a few typical artificial food coloring ingredients. Because synthetic colors are less expensive and can efficiently give a rich, consistent color to the completed product, food and beverage makers usually opt for them. Moreover, they blend readily to create an extensive range of colors for usage in baked goods, candies, and beverages.
The goal of the food colors market study is to provide a thorough understanding of the dynamics and structure of the industry by identifying and outlining the major market segments. It also concentrates on a comprehensive examination of the top market participants based on their financial standing, offerings, product portfolio, costs, expansion plans, and geographical reach. It provides a SWOT and PORTER analysis to document shareholder inquiries and illustrates the possibility for future investment. It also displays the practices and tactics that businesses are using at the moment to compete in the food coloring industry. It also looks at market strategies, growth trends, limiting considerations, and persuasive expansion techniques.
Information Source: https://www.fortunebusinessinsights.com/food-colors-market-102644
Competitive Landscape:
Launch of Technology Centre by Symrise to Boost Market Prospects
A leader in the world of flavors and fragrances, Symrise AG opened its new Asia-Pacific Flavor Innovation and Technology Center. The Center aims to strengthen local food manufacturing skills while supporting Asia's regional food and nutrition hub. The Innovation and Technology Center's announcement will support the market's healthy growth in the upcoming years because of the 30 million euro expansion of its regional headquarters in Singapore, which will benefit food manufacturers greatly. Furthermore, Asia is quickly emerging as one of the primary global sources of influence and inspiration for cutting-edge culinary products, according to a statement from Dr. Heinz-Jürgen Bertram, Chief Executive Officer of Symrise AG. Additionally, important hubs for commerce, leisure, technology, nutrition, and health like Singapore will be at the heart of this megatrend. He went on, "In a similar vein, Singapore will remain at the center of our growth story, and I think the new research and innovation facilities will foster increased industry stakeholder collaboration, connectivity, and creativity, which will further develop Singapore's capabilities in the food research and manufacturing sector." Additionally, the general population's increasing food consumption will support the growth of the food coloring business.
Regional Analysis:
High Consumption of Packaged Food to Promote Growth in North America
With a revenue of USD 667.77 million in 2018, North America is expected to develop at a rapid rate over the next several years due to manufacturers' increasing need for natural food colors. The growing number of laws prohibiting artificial coloring for toxicological and ecological reasons will be beneficial to the North American market's expansion. The market in the area will expand healthily as a result of the growing westernization and commercialization. The market will benefit from the increased demand for artificial and natural colors brought on by the growing popularity of fizzy drinks. In the upcoming years, the market in Asia Pacific will have potential due to the increased consumption of ready-to-eat snacks. 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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