Food Colorants Market – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023
The growing demand for clean labels is fostering the global food colorants market growth. The companies are indulged in R&D activities to innovate and develop new products, which can open new paths of applications.
The food colorants market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights
The growing economies and increasing per capita income along with technological innovations to bring down the prices are making natural colorants more affordable & efficient. The increasing health awareness all over the regions, especially in developed economies, in combination with growing demand for beverages will foster the global food colorants market growth. The increased efforts in R&D are helping the major players to explore new areas of innovations for food colorant and its applications, providing additional growth opportunities to the market.
Increasing demand for beverages such as energy drinks, sports drinks, and mocktails among others is pacing the food colorants market toward growth. Asia Pacific is dominant in the food colorants market during the forecast period, followed by North America, Europe, and RoW. Food colorants are utilized to add color to food and beverages. Changing and busy lifestyle is making people to dine out more often and try new food & beverages. The added color makes food and beverages more luring to the customers. The growing trend of aesthetics will positively impact the market and contribute to its growth. The companies involved in the manufacturing of food colorants are actively participating in R&D activities to increase their product portfolio along with innovations. They are also focusing on improving the value chain and supply chain to survive and maintain their position in the competitive market.
Few of the prominent companies operating in the food colorants market include BASF, Cargill, Koninklijke DSM N.V., DowDuPont, and Merck. Few of the major customers include Tyson Group, Kerry Foods, Ingredion, PepsiCo, and AB InBev.
o Dairy Food
o Non-dairy Food
o Non-alcoholic Beverages
o Alcoholic Beverages
o Asia Pacific
o North America
o Rest of the World