Food Color Market Size Overview, Growth Opportunities and Forecast to 2027
Global Food Colors market size – Overview:
Food colors are
considered as food additives or ingredients which are used commercially in food
and drinks which makes make the product more attractive, appetizing, appealing,
and informative allowing consumers to identify products on sight. The
association of colors with different flavors determines the consumer perception
of flavor from colors will mark the growth of this market. According to FDA,
color additive is any dye, pigment or substance which added or applied to a
food, drug or cosmetic, or to the human body, is capable (alone or through
reactions with other substances) of imparting color.
Owing to growing
consumer awareness on food colors in the recent years has surged the industrial
demand of food colors. The growth has been driven by the increased acceptance
of natural food Colors amongst the consumers. Market Research Future, a firm which
specializes in market reports related to the Foods, Beverages & Nutrition
sector among others, recently forecasted in its report “Global Food Colors
market size Research Report- Forecast to 2023” that the market will demonstrate
an exceptional CAGR % while achieving million-dollar growth readily in the
forecast period.
The increasing
consumer awareness on health and wellness and their growing interest to adopt
natural colors instead of synthetic colors is fueling the demand of natural
food colors. This is attributed to increasing incidence of diseases and rising
health concern of consumers both in developed and developing economies over the
past few years. Consumers seek alternatives to synthetic colors and their
increasing inclination towards natural flavors such as soy sauce, lemon,
tomato, and other natural ingredients will drive the demand of natural food
colors over synthetic food colors. The “new healthy” concept is a consumer
journey which involves “strategic choices” consumers make while consuming food
and beverages. The consumers evaluate the nutritional profile of the products
through labels and ingredients of the product before making buying decision.
Food colors also determine the marketing strategies of manufacturers as
consumers are sensitive to certain food colors which defines their food
choices. So, color is used as a vital ingredient by the food manufacturers to
decorate and design the products properly according to the consumer demand.
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The changing lifestyle
and evolving dietary pattern is anticipated to enforce the food manufacturers
to use natural colors instead of synthetic food colors soon. The key
manufacturers look forward to getting the new pigment solution to differentiate
their products from their competitors. The manufacturers are strategizing on
penetrating the untapped pigments as a raw material for the natural colors. Due
to the government rules and regulation, manufacturers are emphasizing to the
natural pigments to develop new natural color solution. Red cabbage and algae
beta carotene are the recent pigments in the food color market. Food Colors
demand will grow at a progressive rate in the developing nations as the
emerging economies such as India, China and Brazil have lot of room for growth.
There has been less of structural rigidities and high rates of economic and
demographic growth which has indirectly contributed to the growth of Food
Colors market size.
Clean Label and
organic are the major trends in the industry and industrial players are keen to
leverage on these recent trends. Industrial players seek to diversify
their product portfolio and launch new products in the natural colors segment
and continue to strategize to keep the consumers interested. However, adverse
effect of artificial food colors, high cost of natural food colors, and
stringent government rules and regulation regarding synthetic food color
restricts the market growth.
Latest Industry
Updates
May 2016, Archer Daniels Midland
Company introduced natural carmine alternatives for meat products, meat
analogues and ready meals application. The colorings are available in various
shades to suit the specific requirement of the customer
May- 2016, Sensient Technology
Corporation launched some innovative food color solutions for the bakery
products. The name of the color solution is red velvet.
January- 2016, Kalsec Inc. has made a
collaboration with the Shahmeer International to expand their business in the
Middle East region. Shahmeer International is working as a distributor of
various products of Kalsec Inc.
October-2015, Chr. Hansen A/S
launched CapColors Orange 057 WSS colorant which offers an affordable and high
performing encapsulated betacarotene product for beverage manufacturers looking
to overcome these barriers
July- 2015, Archer Daniels Midland
Company introduced Truedark cocoa powder under the brand name of deZaan. The
non-alkalized cocoa powder enhances the color and flavor intensities of
alkalized cocoa powders
Global Food Colors
market size - Competitive Analysis
Food
Colors market size offers huge growth opportunities for the industrial players. The market
is fragmented and marked by the presence of several large and small-scale
vendors. Market players are pouring in million dollars for product
innovation. Innovative premium products and launch of organic/natural
colors remain the central focus of the companies. Most of the industrial
players are diversifying and augmenting their capacities based on strategic
product positioning and target audience.
Industry players in
the Food Colors segment are aware of the consumer product preferences and have
been responding to it through various dimensions. The companies are taking initiatives
to enhance & strengthen their brand name of the company by participating
various trade shows and demonstrating their new product offerings to create an
awareness among the consumers.
With manufacturers
aiming to capture a considerable share of the market segment as early as
possible, they are competing and experimenting with various advantage points
from both supply and demand side. Industrial players are relying on strategic
new product launch and acquisition to capture the growth opportunity. The key
market players profiled in Food Colors are Chr. Hansen S/A (Denmark), Archer
Daniels Midland Company (U.S.), Sensient Technologies (U.S.), D.D. Williamson
& Co. Inc. (DDW) (U.S.), Kalsec Inc. (U.S.), Doehler Group (Germany), and
FMC Corporation (U.S.) among many others.
Global Food Colors
market size – Segments
The global Food Colors
market size has been divided into ingredient, type, form, application, and
region.
On The Basis
Of Ingredient: Natural (Carotenoids, Anthocyanin, Paprika Extract, Curcumin, Chlorophyll,
Spirulina and Others) and synthetic (Red, Green, Yellow & Orange, Blue, and
Others)
On The Basis Of Type: Natural and
Synthetic
On The Basis Of Form: Liquid, Gel, Powder,
and Paste
On The Basis of
Application: Beverages, Bakery & Confectionary, Dairy Products, Meat Products,
Savory & Snacks, and Others (condiments, dressings, frozen products)
On The Basis Of Region: North America,
Europe, Asia Pacific and ROW.
Global Food Colors
market size - Regional Analysis
The global Food Colors
market size is segmented into North America, Europe, APAC, and Rest of the
World (RoW). Global Food Colors market size is highly dominated by Europe
followed by North America. North America is one of the attractive region among
the food color manufacturers over the past few years. The consumption of food
color is high in the US. US consumers are inclined to adopt natural food color
for its various properties. US is the major country in North America for the
massive consumption of food color. Asia Pacific will be fastest growing market during
the review period.
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