Food Colors Market Promising Growth Opportunities over 2017 to 2023

Posted by kailas waghmare on March 14th, 2019

According to a new report published by Allied Market Research, titled, Food Colors Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global food colors market was valued at ,751 million in 2016, and is projected to reach at ,210 million by 2023, registering a CAGR of 9.8% from 2017 to 2023.

Ingredients used to offer the required appearance to any food item or beverage are termed as food colors. These are added to carbonated drinks, ready-to-eat (RTE) products, frozen food, alcoholic beverages, processed foods, juices, and sauces. Food colors are used in commercial food items and domestic cooking, and are available in various forms such as liquid, liquid gel, gel paste, and powder. The market for food colors comprises natural and artificial colors.

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The Global Food Color Market is driven by rise in the food & beverages industry in emerging economies such as, India, Brazil, UAE, Saudi Arabia, and Africa. Moreover, the health benefits offered by few natural colorants boost the market growth. In addition, the ever-growing technological advancements and easy availability of raw materials from plants and animals support the growth. However, the market growth for food color is restricted by the ban on the usage of artificial colorants. R&D activities pertaining to new raw material sources offer food colorant manufacturers numerous growth opportunity.

Major Players:

• 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.
• Naturex S.A.

In 2016, the natural colors segment accounted for the highest share, and is expected to maintain its dominance during the forecast period, owing to their ease of availability from flora and fauna.

Key Findings of the Food Colors Market:

• Europe was the leading region in the global food colors market in 2016, followed by North America
• The natural color segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 9.8% during the forecast period
• The meat product segment dominated the global market accounting for approximately one-fifths share
• The Asia-Pacific food colors market is anticipated to register the highest CAGR of 16.6%, followed by LAMEA.
• North America accounted for approximately one-third share in the global market, and is expected to grow at a CAGR of 6.9%.

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