Report : Middle East & Africa 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 5.9% CAGR, the MEA Natural Food Colors Market is speculated to be worth US$ 216.60 million by 2028, says Business Market Insights
According to Business Market Insights' research, the MEA natural food colors market was valued at US$ 153.47 million in 2022 and is expected to reach US$ 216.60 million by 2028, registering a CAGR of 5.9% from 2022 to 2028. Availability of wide range of natural food colors and Rise in the number of end-use applications are the critical factors attributed to the market expansion.
There is a wide range of natural food colors that is available in the market. Newly introduced colors, and trends have increased the product portfolios of many companies. Manufacturers such as Naturex, Oterra, and Kancor offer wide range of natural food colors in the market. Customers are switching more to natural food color products, due to which the manufacturers are launching new shades regularly to increase the customer satisfaction. Also, in the bakery and confectionary segment, there is always a new trend of different colors, which also results into manufacturers launching such colors to meet the customers' requirements. Hence, these factors result into wide availability of natural food colors in the market.
On the contrary, higher cost of natural ingredients hurdles the growth of MEA natural food colors market.
Based on type, the MEA 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$ 47.53 million. It is projected to garner US$ 67.74 million by 2028 to expand at 6.1% CAGR during 2022-2028.
Based on form, the MEA natural food colors market is segmented into liquid & gel and powder. The liquid & gel segment held 53.1% market share in 2022, amassing US$ 81.53 million. It is projected to garner US$ 116.03 million by 2028 to expand at 6.1% CAGR during 2022-2028.
Based on application, the MEA 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 30.2% market share in 2022, amassing US$ 46.27 million. It is projected to garner US$ 65.81 million by 2028 to expand at 6.0% CAGR during 2022-2028.
Based on country, the MEA natural food colors market is segmented into South Africa, Saudi Arabia, UAE, and the Rest of MEA. Our regional analysis states that the Rest of MEA captured 44.0% market share in 2022. It was assessed at US$ 67.53 million in 2022 and is likely to hit US$ 90.39 million by 2028, exhibiting a CAGR of 5.0% during the forecast period.
Key players dominating the MEA 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.
Contact Person: Sameer Joshi
Email Id: firstname.lastname@example.org