Food Colors Market by Type (Natural Color and Artificial Color), Application (Meat Products, Beverages, Dairy, Bakery & Confectionery, Processed Food & Vegetables, Oils & Fats and Others), Form (Liquid, Powder, Gel and Paste): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 4.5 billion mark in 2022 and is expected to hit US$ 6.1 billion by 2030, recording a CAGR of 4.0% during the forecast period.
Food colors market has been significantly growing with the increase in consumption of processed food products
Food colors provide an appealing look to the processed food products and is either derived from natural source or manufactured synthetically. The rise in urbanization and changing lifestyles have led to the increase in consumption of processed food products such as beverages, snacks, bakery products and other convenience food products. Moreover, due to the growth of beverage and bakery sector, food colors market is expected to witness a significant growth during the forecast period.
Within the report, the market is segmented into type, application, form and geography. By type, the market is further bifurcated into natural color and artificial color. On the basis of application, the market is segmented into meat products, beverages, dairy, bakery & confectionery, processes food & vegetables, oils & fats and others. By form, the market is categorized into liquid, powder, gel and paste. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Rise in consumer awareness of clean label and natural additives
The ingredient-conscious consumers increasingly seek naturally sourced additives, leading to growth opportunity in food colors market. Food and beverage manufacturers have increased the development of new products in health and plant-based food segment to appeal customers. For instance, the emerging sports drinks manufacturers are utilizing natural ingredients to create a distinct product portfolio. The food processors are reformulating their product ranges to meet customer requirement of healthy food products. The rising disposable income of people and consumer awareness regarding food adulteration, and the resultant demand for clean label, organic, and naturally derived food products are anticipated to boost the market growth. Therefore, natural food colors segment is expected to gain traction during the forecast period.
Thriving e-commerce industry results in increase in food colors demand
The rise in e-commerce websites is expected to drive the food colors market, due to factors such as a changing lifestyle, increasing requirement of convenience foods and flexibility of online shopping, fast deliveries, and stringent government regulations to practice social distancing amidst the global pandemic. The e-commerce platforms are also fueled by the availability of internet, smartphones and online delivery platforms. These factors help the food colors market for food colors to sustain in distinct applications or industries. Moreover, the major players in food colors market develop distinct food colors derived from various natural sources, displaying and selling it online. It generates awareness and demand for vibrant and efficient food colors, through online retail channels.
Recent strategic developments in food colors market
The food colors market has undergone several significant developments, and a few of these have been mentioned below:
- In May 2022, Aromata Group launched sunshades namely, FiorioClean Banana Yellow, FiorioClean Tangerine Orange, FiorioClean Pumpkin Orange, which are suitable for a number of sweet and savory food applications.
- In December 2021, Givaudan S.A. acquired DDW, the Color House, to expand the portfolio of its global Taste & Wellbeing business.
- In April 2019, Archer Daniels Midland Company launched new micronized color powders, made up of particles smaller than conventional color pigments.
The food colors market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Archer Daniels Midland Company, Dohler Group, International Flavors & Fragrances, Koninklijke DSM N.V. and Sensient Technologies Corporation are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Food colors manufacturers
- Food colors-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Food colors suppliers
- Food colors distributors and sales firms
- End users of food colors
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Natural Color
- Artificial Color
- Meat Products
- Dairy, Bakery & Confectionery
- Processed Food & Vegetables
- Oils & Fats and Others
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Archer Daniels Midland Company
- Dohler Group
- International Flavors & Fragrances
- Koninklijke DSM N.V.
- Sensient Technologies Corporation