Key Natural Food Color Ingredients Market Players (COVID-19 Analysis) with Industry Share Growth Trends Analysis by 2030
Natural Food Color Ingredients Market Scope:
The natural food color ingredients market can expect to gain at a moderate pace of 5.55% between 2022 and 2030, reveals the in-depth study by Market Research Future (MRFR). The global market can account for close to USD 3.23 billion by the end of 2030, adds the study.
Top Growth Boosters and Restraints:
Food products with natural color ingredients as well as clean labels enjoy significant demand across every region, thanks to the soaring health awareness, and surging spending capacity of the consumers. The alarming rise in food adulteration cases also enhance the demand for natural food color ingredients. Based on the accelerated demand, a huge number of manufacturers are now focused on bolstering their natural food & beverage product portfolios.
Give the non-toxic as well as lesser side effects nature, Natural Food Color Ingredients Market therapeutic use has been surging as well. Plus, governments’ mounting efforts to elevate the sales of natural food color ingredients owing to their biodegradability property further facilitates business growth. Besides, numerous regulations emerging in various regions encouraging the use of natural food color ingredients instead of synthetic food color ingredients will enhance the market size as well.
The global industry has a huge number of reputed manufacturers extensively integrated all across production to distribution phases of the entire value chain. Additionally, majority of the vendors are part of product distribution largely via direct distribution channels and third-party distribution channels, which helps them bolster their global presence. Acquisitions, mergers, collaborations, agreements and expansion of production capacity are the top strategical moves made by the manufacturers in the worldwide industry. To illustrate, in January 2022, Lycored set up a new processing unit in Branchburg for its carotenoids, amino acids, minerals, and vitamins. The processing plant offers significant capabilities for blending, milling, coating, and drying, with opportunities for customization.
Segmental Insights:
The global market, type-wise, has been divided into spirulina, paprika extract, curcumin, carotenoids, anthocyanin, chlorophyll, and others. The biggest share in the worldwide market belongs to carotenoids, which will capture a striking CAGR of 32.8%. Meanwhile, spirulina is showcasing substantial growth and will attain a CAGR of 8.35% from 2020 to 2027.
The natural food color ingredients have key applications in dairy products, beverages, bakery and confectionery, meat products, savory and snacks, and many more. The beverages category will be thriving at a pace of 6.75% over the forecasted period.
Natural food color ingredients are available in different forms, namely paste form, gel form, powder form, and liquid form.
Solubility-based segments are dyes and lakes.
Regional Study:
Europe presides over the worldwide market, given the strong demand for nutraceuticals, especially in Germany, France and the UK. Demand for Spirulina in the region is significantly high, thanks to the advances in science and technology, surging healthcare costs and the changes in food laws affecting product as well as label claims. Consumers’ heightened emphasis on wellness and proper diet elevates the market’s growth rate as well.
Asia Pacific will prevail as a strong market in the next few years, thanks to the fast economic growth, rising urbanization, and the booming middle-class populace. The stunning growth in the product demand is the outcome of the robust presence of numerous brands along with the rapidly developing dietary supplement industry, in addition to the escalating malnutrition cases. Surging government efforts to encourage the use of natural food color ingredients and the surge in research activities to augment the application scope should further favor the Asia Pacific industry.
Top Market Contenders:
Chr. Hansen S/A (Denmark), Archer Daniels Midland Company (U.S.), Sensient Technology Corporation (U.S.), D.D. Williamson and Co. Inc. (DDW) (U.S.), Kalsec Inc. (U.S.), Doehler Group (Germany), FMC Corporation (U.S.) are the major developers of Key Natural Food Color Ingredients Market Players across the world.
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