The North American synthetic food colors market is expected to register a CAGR of 4.9% between the 2022 and 2032. Asia-Pacific synthetic food colors market exhibited sales of 19,500 metric tons by volume and is expected to grow at 5.7% CAGR between 2022 and 2032
NEWARK, Del., Aug. 2, 2022 /PRNewswire/ -- The global synthetic food colors market is set to grow at a healthy CAGR of 6% during the forecast period (2022-2032), reaching a valuation of US$ 1,066 Mn by 2032.
Demand for synthetic food colors in the market is driven by rapid production and consumption of high quality and appealing processed foods, easy availability and inexpensive nature of synthetic food colors, and rapid growth of food and beverage industry worldwide.
Synthetic food colors are chemically derived artificial colors used across food and beverage industry for enhancing visual appeal of products. These colors also help to retain the original properties of vitamins, flavors, and nutrients in food products that can get altered due to sunlight.
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Moreover, the rising trend of party culture supplements the market expansion of RTD drinks. These cocktails are also easy to handle or carry which promotes their consumption at social gatherings. A popular drink among the millennials, RTD drinks are available in a wide range of flavors, are the healthier drinking option, and offer consumers the convenience of a quick energy drink. Thus, RTD cocktails cater to almost all of the consumers' demands regarding beverages. This will boost the market growth for the product in the international market.
Thus, growing focus of food manufacturing for improving the product appeal will continue to play a key role in pushing the sales of synthetic colors during the assessment period.
Similarly, rising production and consumption of food products and beverages along with the highly effective nature of synthetic food colors as compared to natural ones will boost market growth during the forthcoming decade,
Regionally, Asia Pacific, spearheaded by China and India is expected to emerge as a lucrative market for synthetic food colors during the forecast period. Growth in APAC synthetic food colors market is driven by rising adoption of synthetic colors in a wide range of applications due to their inexpensive nature, increasing consumer discretionary spending on processed foods, and rapid expansion of food and beverage industry.
However, presence of stringent regulations, growing popularity of natural food colors, and misperceptions about synthetic food among consumers are emerging as key restraints limiting growth in the synthetic food colors market.
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Key Takeaways from Market Study
- By application, the beverage segment holds the largest market share of about 20% in 2022.
- The Asia-Pacific synthetic food colors market exhibited sales of 19,500 metric tons by volume and is expected to grow at 5.7% CAGR between 2022 and 2032.
- Demand for synthetic food colors in EMEAI market is expected to grow at 5% CAGR between 2022 and 2032.
- North America synthetic food colors market is expected to register a CAGR of 4.9% during the forecast period from 2022 and 2032.
- Germany synthetic food colors market reached a valuation of US$ 33 Mn in 2022.
"Companies of synthetic food colors would gain significantly by targeting the newer sub-segments in the food processing industry. Synthetic food colors are still the go-to choices for newer food processing units due to their affordability. Foraying into emerging economies and establishing strategic alliances with global food brands would immensely help synthetic food colorant brands," says a Future Market Insights analyst.
Synthetic food colors companies have been modifying the product to attract end-user industries and consumers. They are focusing on improvising their products by investing in the creation of newer colors, investing in research and development, launching new product types, and acquiring regional innovative units.
Manufacturers like Biocon are also diversifying towards various applications like pet foods and edible cosmetics by the means of acquisition and collaboration. Allied Biotech stands out on the market and continues to expand its sales territory growing into a global food colorant brand.
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- Archer Daniels Midland Company
- Vinayak Ingredients India Pvt Ltd.
- Nature S.A.
- ROHA (A JJT Group Company)
- San-Ei Gen F.F.I., Inc.
- Sensient Colors LLC.
- Symrise AG
- Chr. Hansen Holding A/S
- Denim Colourchem (P) Limited
- Allied Biotech Corporation
- DIC Corporation (BASF SE)
- DDW, The Color House
- Döhler Group
- GNT International B.V.
- Kalsec Inc.
Synthetic Food Colors Market By Category
- Bakery, Snacks, and Cereals
- Candy/ Confectionery
- Fruit Preparations/ Fillings
- Meat, Poultry, Fish, and Eggs
- Potatoes, Pasta, and Rice
- Sauces, Soups, and Dressings
- Pet Food
About Food & Beverage Division at Future Market Insights
The Food and Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
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