Report : Europe 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 6.7% CAGR, the Europe Natural Food Colors Market is speculated to be worth US$ 1,065.95 million by 2028, says Business Market Insights
According to Business Market Insights' research, the Europe natural food colors market was valued at US$ 722.01 million in 2022 and is expected to reach US$ 1,065.95 million by 2028, registering a CAGR of 6.7% from 2022 to 2028. Increasing consumer proclivity towards clean label products and rising consumer concerns about synthetic ingredients are the critical factors attributed to the market expansion.
Many people believe that food and beverage products are healthier only when they have a label with recognizable ingredients. The food and beverage industry has entered a phase of clean label products, which has led manufacturers to adopt natural food colors in order to gain a competitive edge. Clean label products also attract more number of customers, as they are more comfortable in consuming products with known ingredients. Other factors such as increasing health awareness and increasing spending power of consumers have also created a rise in food with natural ingredients and clean label products. According to Clean Label Alliance, a minimum of 75% people are ready to pay high prices for clean label products. This can be attributed to the fact that these products are minimally processed, eco-friendly and organic. The market for natural food colors is expected to grow during the forecast period, as there has been a constantly growing consumer preference for clean label products. Consumers proclivity towards clean labelled products are rising due to the rise in health awareness and food adulteration. This results in consumers looking to the labels before purchasing any products. This factor is expected to be a crucial driver for the demand growth of natural food colors.
On the contrary, higher cost of natural ingredients hurdles the growth of Europe natural food colors market.
Based on type, the Europe natural food colors market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. The carotenoids segment held 31.0% market share in 2022, amassing US$ 223.78 million. It is projected to garner US$ 334.86 million by 2028 to expand at 6.9% CAGR during 2022-2028.
Based on form, the Europe natural food colors market is segmented into liquid & gel and powder. The liquid & gel segment held 53.6% market share in 2022, amassing US$ 386.77 million. It is projected to garner US$ 580.62 million by 2028 to expand at 7.0% CAGR during 2022-2028.
Based on application, the Europe 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 30.3% market share in 2022, amassing US$ 218.76 million. It is projected to garner US$ 321.57 million by 2028 to expand at 6.6% CAGR during 2022-2028.
Based on country, the Europe natural food colors market is segmented into Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that Rest of Europe captured 31.2% market share in 2022. It was assessed at US$ 225.12 million in 2022 and is likely to hit US$ 317.97 million by 2028, exhibiting a CAGR of 5.9% during the forecast period.
Key players dominating the Europe natural food colors market are Archer Daniels Midland Company, Aromata Group, 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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