Food Colorants Market Brief Overview by Research Cosmos
Food Colorants Market Growth Rate:
Food Colorants Market is projected to grow at a CAGR of 5.8% during the forecast period 2018 to 2023.
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Food Colorants Market Growth Drivers and Restraints:
Increasing demand for natural food ingredients, increased consumption of beverages and regulatory support for coloured foods in the EU Regulation are other factors that have increased market demand for food colours. Rising incomes, and changing lifestyles in emerging markets are driving demand for processed foods. To attract the target segment, companies tend to add food colorants. The stringent regulations for food standards are a limitation for manufacturers, forcing them to look for alternatives in the form of natural color innovations.
Food Colorants Market Segmentation:
The market is divided into types containing natural colours and synthetic colours. The market is growing faster, while the demand for synthetic food colours is decreasing. Food grade is an emerging but expanding market in the food industry due to its clean label solutions for manufacturers.
Food colours can also be segmented according to their intended use, e.g. beverages, dairy and frozen foods, bakeries, meats, poultry and seafood, sweets, oils and fats and others. It has been observed that in the beverage segment has the maximum use of food colours, which is followed by the bakery and confectionery segment with a combined market share of 63% in 2016.
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Geographical Overview of Food Colorants Market
In Europe, the food colour market was dominated by Germany and France with a market share of 19.5% and 17.5% respectively in 2016. Consumers continue to call for natural and healthy alternatives to artificial colours. It is expected that the region will have demand for anthocyanin-based food colours over the next five years.
Key Players of Food Colorants Market:
Some of the leading market players of Food Colorants Market are BASF, Cargill, CHR Hansen, Danisco, DD Williamson, DSM, GNT Group, Lycored Ltd, Naturex and others.
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