Agricultural Colorants Market
Agricultural Colorants Market Size is estimated reach to USD 4.2 Billion by 2027 and is expected to register a CAGR of 8.5% during the forecast period of 2020 to 2027.
The global agricultural colorants market is growing rapidly mainly due to the increasing demand for colorants in fertilizers and crop protection. These colors are an integral part of the established clean label trend, meaning that the colors are eco-friendly and also help in protecting the environment. Moreover, the augmenting consumer demand for fair trade, sustainable, and organic products is escalating the market on the global platform.
Acknowledging the colossal traction, the market is garnering currently Market Research Future (MRFR) in its recently published study report asserts that global agricultural colorant market size will witness a significant growth by 2027 registering a phenomenal CAGR throughout the forecast period (2023 to 2027). Augmented demand from the burgeoning food & beverages industry for the organic food color defines the growth landscape of the market.
Additional factors adding to the market growth include the adoption of better farming techniques that enhance the production and the multifunctionality of fertilizers and the need for crop protection. Simultaneously, factors such as the increasing demand for colorants in fertilizer, pond & lake color management, turf & ornamental plant, and ice melting & de-icing applications are expected to drive the growth of the market.
Clean label trend has evolved beyond ingredients and indicates that the food is made by using natural colors and flavors. The increasing consumer awareness about health & wellness and their growing interest to adopt natural color instead of synthetic color, this, as a result, has been supporting the growth of this market.
Also, the other trends such as the clean label, gluten-free color solutions, non-GMO colorants, and terms that signify ‘organic’ or safe to consume are increasing the size of the agriculture colorant market. Besides, the rising focus on research and development to produce bio-based colorants to meet strict environmental regulations further provides opportunities to market players.
On the other hand, factors such as the stringent regulations on the use of synthetic colorants are expected to pose challenges to market growth. Also, the use of agricultural colorants increases the cost of the final product, which is estimated to impede the growth of the market, restricting its uses.
Global Agricultural Colorant Market – Competitive Analysis
Highly competitive, the agricultural colorant market appears to be fragmented with the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain the key trends for leading players. They strive to develop agricultural colorant designed to reduce the maintenance with longer life and lower total costs. The market will witness fierce competition due to the expected extensions in product & service and product innovations.
Major Players:
Key players operating in the global agricultural colorant market are BASF SE (Germany), Bayer AG (Germany), Clariant (Switzerland), Aakash Chemicals (US), Sensient Technologies Corporation (US), Germains Seed Technology (UK), Lanxess (Germany), Chromatech Incorporated (US), Organic Dyes and Pigments (US), Sun Chemical (US), Keystone Inc. (US), and Milliken Chemical (US) among others.
Global Agricultural Colorant Market – Segments
For enhanced understanding, the market has been segmented into four key dynamics: -
By Product Type : Dyes and Pigments.
By Application : Seed Treatment, Fertilizers, Turf & Ornamental Plants, Crop Protection Products, Ice Melting & De-icing, and Ponds & Lakes among others.
By Distribution Channel : Department Stores, Government Stores, and Retail Stores among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Global Agricultural Colorant Market – Regional Analysis
The North American region heading with the extensive adoption of mechanized farming methods is forecasted to retain its dominance over the global agricultural colorant market throughout the review period. Furthermore, factors such as the surging demand for turf and ornamental plants, the growing business of organic food products & produces, and the burgeoning agriculture industry in the region are fostering the growth of the market. The US, backed by the presence of prominent companies such as Sensient Technologies Corporation and Sun Chemicals, majorly contributes to the growth of the regional market.
The agricultural colorant market overview in the Asia Pacific region is emerging as a profitable market, globally. The region is projected to register highest CAGR over the forecast period. Factors positively impacting the growth of the regional market include the higher-level production capacities in countries like Australia and New Zealand and the increasing population in rapidly developing countries such as China and India.
Also, the colored food industry in the APAC region is experiencing substantial growth over the past few years which is, in turn driving the growth of agricultural colorant in the region, positively. Moreover, factors such as the increasing demand for colorants for fertilizers & seed treatment, the growing export of agricultural dyes and pigments further propel the growth of the regional market.
The agricultural colorant market in the European region is expected to account for a significant share in the global market. Factors such as the presence of prominent players such as BASF SE, Bayer AG, and Clariant and the widespread use of agricultural colorants in turf and ornamental plants drive the growth of the regional market.
Industry/ Innovations/ Related News
February 06, 2019 ---- Frutarom Natural Solutions Ltd. (the US), a division of International Flavors & Fragrances Inc., announce the receiving of organic certification for its natural annatto color from both, the European Organic Certifiers Council and the U.S. Department of Agriculture. Seeds and extracts of Annatto have been used for centuries in Europe and North America to provide a yellow to reddish color to foods and beverages, thus becoming the second most economically important natural colorant worldwide.
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