SkyQuest projects that the global food colors market will attain a value of USD 7.01 billion by 2030, with a CAGR of 7.2% during the forecast period (2023-2030). The global food colors market is poised for substantial growth in the foreseeable future, and several key factors influence this trajectory. The world’s steadily increasing population is generating a heightened demand for food and beverage products, consequently spurring the need for food colors in these products.
Westford USA, Jan. 29, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the consumer trend towards convenience foods with diverse and traditional flavors is set to provide an added impetus for global food colors market growth, as these products often rely on food colors to enhance their visual appeal and sensory experience.
Browse in-depth TOC on the “Food Colors Market”
- Pages – 157
- Tables – 60
- Figures – 75
Moreover, the burgeoning food and beverage industry within the BRICS countries, driven by a surge in domestic consumption, is expected to serve as a pivotal force propelling global food colors market expansion.
Prominent Players in Global Food Colors Market
- Chr. Hansen Holding A/S
- Sensient Technologies Corporation
- DDW The Colour House
- Archer Daniels Midland Company
- Döhler GmbH
- FMC Corporation
- Naturex S.A.
- Kalsec Inc.
- GNT Group B.V.
- Lycored Corp.
- Sethness Products Company
- Roha Dyechem Pvt. Ltd.
- San-Ei Gen F.F.I., Inc.
- Natural Food Colors LLC
- Sensient Food Colors Europe GmbH
- Tianjin Zhongrui Chemical Co., Ltd.
- Sun Chemical Corporation
- Nature’s Flavors, Inc.
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Fruits and Vegetables Segment to Dominate Market due to Rising Consumer Demand for Fruits
Natural colors have taken center stage in the global food colors market, emerging as dominant players, mainly due to their diverse sources, including fruits, vegetables, and plants. These natural colorants provide a clean-label and healthier alternative to their synthetic counterparts, a key driver behind their escalating demand.
North America commands a substantial share of the global food colors market, propelled by several factors. The region’s prominence is underpinned by a well-established food and beverage industry continuously seeking to innovate and enhance product appeal.
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Synthetic Colors Segment to Witness Significant Growth due to their Distinctive Advantages
Synthetic colors segment is exhibiting the fastest growth rate in the global food colors market. Synthetic colors maintain a substantial market share owing to their distinctive advantages, including a vibrant and consistent color range and cost-effectiveness. These attributes make synthetic colors a preferred choice for manufacturers seeking to achieve precise and eye-catching hues in their products, particularly in the food and beverage industry.
Asia-Pacific is experiencing rapid growth and is poised to become the fastest-growing global food colors market. Several factors contribute to this surge in demand. The region’s population is expanding remarkably, resulting in a more extensive consumer base. Alongside this, rising disposable incomes and evolving consumer preferences are reshaping the market dynamics in the global food colors market.
A comprehensive analysis of the major players in the global food colors market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Global Food Colors Market
- In 2023, a significant development in the natural colors and health ingredients market was marked as Chr. Hansen Holding A/S completed the acquisition of GanedenBC30, a renowned probiotic ingredient brand. This strategic move bolsters Chr. Hansen’s position in the industry reinforces its commitment to providing natural and health-focused solutions.
- In 2023, DDW, The Color House, received substantial investment from Capital Partners, further propelling its growth and expansion efforts within the natural food colors market. This financial backing is expected to enhance DDW’s capabilities in meeting the rising demand for natural food coloring solutions, reaffirming the industry’s dedication to catering to consumer preferences for clean-label and health-conscious products.
Key Questions Answered in the Global Food Colors Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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