The Global Food Colorants Market is expected to grow at a CAGR of 5.2% during the forecast period 2017–2023 owing to the demand from emerging economies and increasing demand from beverage industries. The market has many players but is dominated by a few major key vendors. The market has been analyzed on the basis of type – synthetic colorants and natural colorants. The report has also been categorized on the basis of applications – dairy food, non-dairy food, non-alcoholic beverages, and alcoholic beverages.
The non-alcoholic beverages segment is leading in the market and is expected to grow with a CAGR of around 6.4% during the forecast period. The growing aesthetics trends and increasing demand for clean labels are fostering the food colorants market growth. The food colorants are utilized to add color to food and make it more presentable & attractive to customers.
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Natural, as a type, holds the highest market share. The natural colorants segment is growing at a fast pace, and its increased usage is expected to drive the food colorants market further in the coming years. Also, the increasing population along with the rise in disposable income is leading the consumers to spend more and thus enhancing the food colorants market.
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Another major factor assisting the growth of the Food Colorants Market is the growing demand due to the increasing health awareness, i.e., customer shift from synthetic ingredients to natural ingredients. The natural colorants are also very much in demand due to their health benefits. These factors are positively impacting the food colorants market. Emerging economies, such as China and India, are expected to boost the food colorants market in the Asia Pacific region.
The study conducted by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each application and each type along with forecasting and trends analysis in the global food colorants market. Major companies covered in the study include big multinational players such as BASF, Cargill, Koninklijke DSM N.V., Neelikon, and Merck that are offering different food colorants.
– Vasundhara Singh,