Report : Asia-Pacific Natural Food Colors Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Carmine, Anthocyanins, Caramel, Curcumin, Annatto, Carotenoids, Chlorophyll, and Others), Form (Liquid & Gel and Powder), and Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sauces; Dressings; and Condiments, RTC and RTE Products, Meat; Poultry and Seafood, and Others)
At 8.2% CAGR, the APAC Natural Food Colors Market is speculated to be worth US$ 1,018.68 million by 2028, says Business Market Insights
According to Business Market Insights' research, the APAC natural food colors market was valued at US$ 635.66 million in 2022 and is expected to reach US$ 1,018.68 million by 2028, registering a CAGR of 8.2% from 2022 to 2028. Rise in the number of end-use applications and availability of wide range of natural food colors are the critical factors attributed to the market expansion.
Natural food colors are used in several applications, such as bakery and confectionary, dairy and desert products, beverages, RTE and RTC foods, among others. Along with the rising population in many countries, the demand for bakery and dairy items is also increasing. Moreover, the consumption of beverages is at an all-time high. These factors are positively affecting the use of natural food colors in the market. Natural food coloring is not only used in food and beverage products but is now also used in pharmaceutical and cosmetic products, which increases the scope of its applications. Natural food color is also expected to drive the poultry industry, and dressings & condiments industry's demands in the coming years. In many regions, RTE and RTC foods have been witnessing high demand owing to factors such as, the rise in working population, and the convenience of availability of such foods. Furthermore, the latest trends of colorful cakes and pastries in the bakery and confectionary segment, has increased the use of natural food colors in the market and is expected to keep growing at a high pace.
On the contrary, higher cost of natural ingredients hurdles the growth of APAC natural food colors market.
Based on type, the APAC natural food colors market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. The carotenoids segment held 32.1% market share in 2022, amassing US$ 203.92 million. It is projected to garner US$ 331.92 million by 2028 to expand at 8.5% CAGR during 2022-2028.
Based on form, the APAC natural food colors market is segmented into liquid & gel and powder. The liquid & gel segment held 55.2% market share in 2022, amassing US$ 351.00 million. It is projected to garner US$ 567.73 million by 2028 to expand at 8.3% CAGR during 2022-2028.
Based on application, the APAC natural food colors market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, sauces, dressings, and condiments, RTC and RTE products, meat, poultry and seafood, and others. The beverages segment held 31.1% market share in 2022, amassing US$ 197.89 million. It is projected to garner US$ 319.97 million by 2028 to expand at 8.3% CAGR during 2022-2028.
Based on country, the APAC natural food colors market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 42.3% market share in 2022. It was assessed at US$ 252.30 million in 2022 and is likely to hit US$ 458.64 million by 2028, exhibiting a CAGR of 9.3% during the forecast period.
Key players dominating the APAC natural food colors market are Archer Daniels Midland Company, BASF SE, Döhler Group, DuPont, Givaudan S.A., Koninklijke DSM N.V., Naturex S.A., Oterra A/S, and Sensient Technologies Corporation among others.
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