The new report by Expert Market Research titled, ‘Global Food Colours Market Trends, Share, Price, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global food colours market, assessing the market based on its segments like type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 2.3 billion
• Forecast CAGR (2023-2028): 12.3%
• Forecast Market Size (2026): USD 4.6 billion
The growing demand for clean label, natural products is driving the global food colours industry. Because of the world’s current health concerns due to the pandemic, the industry is being propelled forward by factors such as healthy food consumption and natural food colours such as turmeric, which also provide health benefits.
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Furthermore, the market demand for organic, plant-based products is increasing as a result of urbanization and industrialization, rising purchasing power, and rising awareness of food adulteration and the resulting demand for clean label food items, all of which are fuelling market growth.
Industry Definition and Major Segments
Food colours are additives that improve the appearance of a food product and make it more appealing to eat. The colours may be supplied as dyes and pigments in liquid or powdered form, and their composition may be natural or artificial.
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Based on type, the industry can be divided into:
• Natural Colour
• Artificial Colour
On the basis of application, the market is segmented into:
• Meat Products
• Bakery and Confectionary
• Processed Food and Vegetables
• Oil and Fats
The regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increasing prevalence of e-commerce websites as a result of factors such as an increase in the number of working populations, the convenience and flexibility of online purchasing, fast deliveries, and stringent government regulations to conduct social distance in the midst of a global pandemic. With the widespread availability of the internet and smartphones, online delivery channels are bolstering the market for food colors in a variety of end-use sectors.
Furthermore, as the e-commerce industry grows, industry players that sell packaged and processed food products through online retail channels are creating a market demand for bright colors that attract buyers, as the visual appeal of online products is critical. Furthermore, the rise of food delivery services such as Zomato and Uber Eats in major developed and emerging markets has increased the relevance of vibrant colors in visual representation, which is benefiting the overall food color market.
Key Market Players
The major players in the market are Sensient Colors LLC, Chr. Hansen Natural Colors A/S, BASF SE, DSM Nutritional Products AG, Naturex S.A., DDW, Inc., and Others.
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