The Global Food Colorants Market is expected to witness a CAGR of 5.2% to reach revenue of $5.3 billion by 2023
Bangalore, India, January 29, 2019: With its recently published study “Food Colorants Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the Global Market for Food Colorants will continue to grow due to the increasing disposable income among developing countries, raising awareness about health, and changing trends about aesthetics. The global food colorants market is projected to grow at a CAGR of 5.2% during the forecast period to reach a value of $5.3 billion by 2023.
Food colorants are widely being used because of their added efficiency in various applications. The added synthetic or natural colorants make the food or beverage to be more attractive and luring. The natural colorants are in demand owing to their health benefits as well.
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Among the applications, the non-alcoholic beverages segment that includes sports drinks, juices, soft drinks, energy drinks, and mocktails is dominating the food colorants market. The next major application segment contributing toward the market growth is “non-dairy food” that includes packaged food, chocolates, candies, cakes, bakery items, and snacks. The non-alcoholic beverages segment is expected to grow with a high CAGR. Overall, the growth of non-dairy food and non-alcoholic beverages markets will positively impact the global food colorants market.
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In terms of the analysis of major types, natural colorants are contributing heavily toward the market growth. The “natural” segment is expected to grow at a CAGR of 5.5% during the forecast period. The major trend impacting the market positively is the increasing awareness about health, thereby leading consumers to demand more natural colorants. Also, the growing demand for beverages owing to multiple reasons in various geographies is accelerating the Global Food Colorants Market growth.
“The changing lifestyle, increasing income levels, and socializing have made the customers shift toward dining out more often, thereby providing more opportunities and leading to competition amongst restaurants. The customers add vibrant color to food and beverages to attract consumers and to be competitive in the market. This ongoing trend will enhance the Global Food Colorants Market.” – Vasundhara Singh, Research Associate, Infoholic Research
Key Insights of the Report Include:
- Major Types:
- Key Applications:
- Dairy Food
- Non-dairy Food
- Non-alcoholic Beverages
- Alcoholic Beverages
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP