CHICAGO, April 8, 2021 /PRNewswire/ -- According to the new market research report "Food Colors Market by Type (Natural, synthetic, nature-identical), Application (Food products, and beverages), Form (Liquid, powder and gel), Solubility (Dyes and lakes) & Region - Global Forecast to 2026", published by MarketsandMarkets™, the market for food colors is estimated at USD 4.3 billion in 2021; it is projected to grow at a CAGR of 4.7% to reach USD 5.4 billion by 2026.
The production of food colors is continuously increasing, and companies are investing increasingly in research & development activities of natural and synthetic colors to enhance their existing product portfolio across various regions. The demand for food & beverage products processed with the inclusions of food colors is comparatively higher. The lucrative opportunities are available in the emerging regions due to the growing economy and technological advancement. The market in China is projected to grow at a higher pace due to an increase in industrial activities.
The natural colors sub-segment is estimated to account for the largest market share in the by type segment for the Food Colors Market.
Natural pigments are being increasingly emphasized upon as they have achieved commercial significance, and consumers have perceived them as safe additives. Besides aesthetics, natural pigments have potential physiological effects due to their potent antioxidative properties. Advancements in technological innovations, such as nano-encapsulation, supercritical carbon dioxide, supercritical fluid, gas-based extraction, and spinning cone column, to increase the efficiency of extraction have also been encouraging the growth of the food color industry.
By application, the food sub-segment is estimated to account for the fastest growth in the Food Colors Market.
The growth in the processed and packaged food markets directly impacts the growth of the Food Colors Market. Due to the growth in the processed food & beverage market, the demand for food colors is also projected to grow at a rapid pace. The processing of food products involves various practices, including thermal and non-thermal processes. These processes alter the characteristics of the original color of food products due to various process parameters, such as temperature, moisture, and PH. Due to these factors, the demand for food colors in processed food products is increasing to impart natural aesthetics to the products.
The liquid sub-segment by form is estimated to account for the largest market share of the Food Colors Market over the forecast period.
Natural food colors are highly in demand in the global markets, these colors are extracted from natural resources such as turmeric, saffron and carrots. These are extracted in liquid form and thus they are estimated to drive the global market for liquid food colors.
The dyes sub-segment is estimated to observe the fastest market growth in the Food Colors Market during the forecast period.
The growth for dye food colors is driven by the food sector globally as this segment is a strong end use industry. Dye food colors impart strong color and have high stability at different temperatures and PH due to which their production is increasing. Thus these factors are estimated to drive the market growth.
Europe is estimated to be the largest market.
There are key players in the European markets that supply high-quality food products in the European markets, such as DSM (Netherlands), Naturex (France), and Campbell Foods Belgium NV (Belgium) and they are significantly encouraging the trends of developing new products in the region. The high demand for packaged food and the growing bakery and confectionery and dairy & frozen products market in Germany. Furthermore, investments in new technological developments are projected to encourage the formulation of innovative natural or nature-identical colors for applications, such as pharmaceuticals and processed food.
Key players in Food Colors Market include ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), DSM (Netherlands Naturex (France), DDW (US), Döhler Group (Germany), Florio Colori (Italy), Lycored (Israel) and Kalsec Inc. (US). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.