Publication Month: Aug 2022 | Report Code: TIPRE00004464 | No. of Pages: 140 | Category: Food and Beverages | Status: Published
There is an increase in demand for natural food colors, owing to increasing awareness among consumers about the harmful effects of synthetic colors and rising rules and regulations of governments regarding the use of synthetic colors. Most people nowadays have become health conscious and are opting for organic and natural products. Natural food colors are safe to consume and add to food's nutritional value. Additionally, natural food colors do not contain common allergy-prone ingredients. Instead, they contain antioxidants that reduce the risk of many diseases. All these factors are driving the market.
The market is projected to witness significant growth in the coming years due to the strong presence of prominent players such as Koninklijke DSM N.V., Sensient Technologies, and Archer Daniels Midland Company. A large variety of natural food colors have gained consumers' attention. There has been a growing trend toward consuming packaged RTE and RTC food products. This factor is projected to offer new opportunities to natural food color manufacturers during the forecast period.
In 2021, Europe held the key share of the global natural food colors market. However, Asia Pacific is estimated to register the highest CAGR in the market during the forecast period. The Asia Pacific market is segmented into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific. The food & beverages industry is one of the booming industries in Asia Pacific due to the rising population and changing eating habits of consumers. Consumers in developing countries are experiencing a sharp increase in their disposable income, raising their purchasing power. The rise in disposable income levels of consumers and the growth of the middle-class population are among the key factors driving the natural food colors market in the region.
|Market Size Value in||US$ 2.10 Billion in 2022|
|Market Size Value by||US$ 3.17 Billion by 2028|
|Growth rate||CAGR of 7.1% from 2022 to 2028|
|No. of Pages||140|
|No. of Tables||83|
|No. of Charts & Figures||83|
|Historical data available||Yes|
|Segments covered||Type, Form, and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Before the COVID-19 pandemic, the natural food colors market growth was primarily driven by the rising demand for organic and natural food products with high nutritional value. However, the market faced hurdles during the first quarter of 2020 due to business shutdown and raw material and labor shortages. The COVID-19 pandemic led to economic recession in the initial months of 2020, which created financial difficulties for low-income and mid-income consumers.
Moreover, due to restrictions, people stayed at home and cooked at home, creating a demand for packaged food products that are easy to cook. This surged the demand for RTE and RTC food products, leading to the natural food colors market growth. Consumers also became health conscious and preferred food products that are natural and safer to consume. This fueled the market growth during the COVID-19 pandemic.
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Many people believe that food and beverage products are healthier only when they have a label with recognizable ingredients. The food & beverages industry has entered a phase of clean label products, leading manufacturers to adopt natural food colors to gain a competitive edge. Clean label products also attract more customers, as consumers are more comfortable consuming products with known ingredients.
Consumers’ proclivity toward clean labeled products is rising due to the rise in health awareness and food adulteration. This results in consumers looking to the labels before purchasing any products. This factor is expected to be a crucial driver for the natural food colors market.
Based on product type, the global natural food color market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. In 2021, the carotenoids segment accounted for the largest revenue share, and the anthocyanins segment is expected to account for the highest growth rate over the forecast period. Natural food colors are derived from plants, animals, and other organic materials. They are safe to consume as they do not contain allergy-prone ingredients.
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Koninklijke DSM N.V., Sensient Technologies, Archer Daniels Midland Company, Döhler Group, BASF SE, Naturex S.A, Aromata Group, Givaudan, Dupont, Oterra A/S, and Mane KANCOR are among the players operating in the market. These companies provide a wide range of product portfolios for the market. The companies have their presence in developing regions, providing lucrative market opportunities. Market players are developing high-quality, innovative products to meet customer requirements.
The "Natural Food Colors Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global natural food colors market trend analysis. The report aims to provide an overview of the market with detailed market segmentation.
The natural food colors market is analyzed based on type, form, application, and geography. Based on type, the global natural food colors market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. In terms of form, the global natural food colors market is segmented into liquid & gel and powder. Based on application, the global natural food colors market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, sauces; dressings; and condiments, RTC and RTE products, meat; poultry; and seafood, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
Koninklijke DSM N.V., Sensient Technologies, Archer Daniels Midland Company, Döhler Group, BASF SE, Naturex S.A, Aromata Group, Givaudan, Dupont, Oterra A/S, and Mane KANCOR are among the prominent players operating in the global natural food colors market.