Food Colors Global Market Report 2023

The Food Colors Global Market Report 2023 by The Business Research Company, provides food colors market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Food Colors Global Market Report 2023, the global food colors market size grew from $3.21 billion in 2022 to $3.53 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of the food colors market is expected to grow to $4.69 billion in 2027 at a CAGR of 7.3%.

Increasing demand from the food and beverage industry is expected to drive the growth of the food colors market in the coming years. The food and beverage sector encompasses all businesses engaged in the production, packaging, and distribution of raw food materials. This includes both fresh and processed foods, as well as alcoholic and non – alcoholic drinks. Food colors are added to foods and beverages to preserve their original color and texture, which can be lost during cooking and preparation due to a variety of chemical and physical processes.

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The food colors market is segmented:

1) By Type: Natural, Synthetic, Nature Identical

2) By Form: Liquid, Powder, Gel

3) By Application: Dairy, Meat Products, Beverages, Bakery And Confectionery, Processed Food And Vegetables, Oils And Fats, Other Applications

Increasing investments in technological advancements are shaping the food colors market. Major companies operating in the food colors sector are focused on investing in food coloring technology to meet consumer demand. For example, in September 2020, Phytolon, an Israel-based company that offers natural food colors invested $4.1million in natural food coloring technology. The investments will be used to increase the range of the firm’s plant-based food colorings, which are generated from betalains.

The food colors market report table of contents includes: