The global food colors market was valued at USD 2.55 billion in 2018 and is anticipated to grow to USD 7.58 billion by 2032, reflecting a compound annual growth rate (CAGR) of 8.11% over the forecast period, according to our analysis in the existing report. In 2018, North America held the largest share of the food colors market, accounting for 26.19% of the global market.
The significant use of food colors in the production of soft drinks, coupled with the rising demand for these beverages, is expected to drive substantial market growth during the forecast period. Additionally, the increasing consumption of processed food products and carbonated beverages is a key factor fueling the expansion of the global food colors market.
Information Source: https://www.fortunebusinessinsights.com/food-colors-market-102644
Key Factors Driving the Global Food Colors Market
The increasing demand for natural food colors is driven by consumers shifting toward clean-label and natural products, with preferences for colors derived from fruits, vegetables, and plants, while the rising consumption of packaged and processed foods, such as snacks, beverages, and confectionery, further boosts this demand. Food manufacturers are innovating by using vibrant colors to enhance the visual appeal of products, catering to consumer preferences for aesthetically pleasing food, and aligning with health and wellness trends by replacing synthetic additives with natural alternatives. Additionally, the global expansion of the food and beverage industry, particularly in emerging economies, is fueling the growing demand for food colors.
Competitive Landscape:
Symrise AG, a global leader in flavors and fragrances, has launched its new Asia-Pacific Flavor Innovation and Technology Center. This facility is designed to enhance Asia’s position as a regional hub for food and nutrition while strengthening local food manufacturing capabilities. The Centre’s establishment, supported by a €30 million expansion of Symrise’s regional headquarters in Singapore, is expected to drive significant market growth in the coming years. The expansion will provide extensive support to food manufacturers in the region.
Dr. Heinz-Jürgen Bertram, CEO of Symrise AG, emphasized the importance of Asia in shaping global food innovation trends, stating, “Asia is rapidly emerging as a key source of influence and inspiration for innovative food products. Major hubs like Singapore, which integrate business, lifestyle, technology, health, and nutrition, will be central to this megatrend.” He added, “Singapore will remain a cornerstone of our growth strategy, and we believe our new research and innovation facilities will foster greater collaboration, connectivity, and creativity among industry stakeholders. This will further enhance Singapore’s capabilities in food research and manufacturing.” Additionally, the rising consumption of food products among the general population is expected to drive the expansion of the food colors market.
Regional Analysis:
North America, which generated USD 667.77 million in revenue in 2018, is poised for significant growth during the forecast period. This growth is fueled by increasing demand for natural food colors among manufacturers, driven by bans on synthetic colors due to ecological and toxicological concerns. The trend toward westernization and commercialization is also expected to support market growth in the region. The rising popularity of carbonated beverages is further boosting demand for both natural and synthetic food colors, creating a favorable market environment.
In the Asia-Pacific region, the growing consumption of ready-to-eat snacks is anticipated to open new market opportunities. Factors such as an expanding working population and rising disposable incomes are expected to drive growth across Asia-Pacific countries.
The Report Lists the Main Companies in the Food Colors Market
- Dohler Group
- Archer-Daniels-Midland Co.
- Symrise AG
- Ingredion, Inc.
- Sensient Technologies
- Kalsec, Inc.
- DDW, Inc.
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KEY INDUSTRY DEVELOPMENTS:
- July 2021: GNT Group introduced two new EXBERRY Colouring Foods derived from turmeric and spirulina. These innovative products are designed to meet the increasing global demand for affordable green food colors that align with clean-label trends.
- June 2021: Chr. Hansen Natural Colors, now rebranded as Oterra, completed the acquisition of Symrise AG’s natural food coloring business. This strategic move is expected to enhance Oterra’s position and capabilities in the natural food coloring market.