Global Food Colors Market Overview 2024: Size, Growth Rate, and Segments
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The food colors global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Food Colors Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The food colors market size has grown strongly in recent years. It will grow from $3.45 billion in 2023 to $3.73 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased demand for processed and convenience foods, growth in awareness of food presentation and aesthetics, expansion of the food and beverage industry globally, need for differentiation and branding in food products, regulatory approval and safe usage of food colors, demand for natural and clean label food coloring solutions.
The food colors market size is expected to see strong growth in the next few years. It will grow to $5.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to adoption of exotic and unique food color varieties, emphasis on eco-friendly and sustainable food coloring ingredients, research and development in plant-based and botanical food colors, demand for food colors in nutraceutical and dietary supplement applications, expansion of food colors in confectionery and baking industries, growing interest in customized and specialty food coloring solutions. Major trends in the forecast period include anthocyanins and superfood colors, coloring foods and concentrated extracts, microencapsulation of sensitive colors, personalization and custom blends, emulsion-based coloring systems.
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Scope Of Food Colors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Food Colors Market Overview
Market Drivers –
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. For instance, in March 2022, according to the Australian Bureau of Statistics report, an Australia-based independent statutory agency for statistical collection and analysis, approximately 14.7 million tonnes of food and non-alcoholic beverages were sold from grocery stores, supermarkets, convenience stores, food stores, and fresh food markets across that Australia in the year 2020-2021, which represents 1.4% increased as compared to the previous year. Therefore, the increasing demand from the food and beverage industry is significantly driving the growth of the food colors market.
Market Trends –
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 October 2022, International Flavors and Fragnances (IFF) opened a new Singapore Innovation Centre, the first in its global network of research, creative and application centers to integrate the technologies, capabilities and expertise of all four business divisions such as nourish, health & biosciences, scent and pharma solutions.
The food colors market covered in this report 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
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Regional Insights –
North America was the largest region in the food colors market in 2023. The regions covered in the food colors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the food colors market include Chr Hansen Holding A/S, D.D. Williamson & Co Inc., Kalsec Inc., Döhler GmbH, International Flavors & Fragrances Inc., Koninklijke DSM NV, Sensient Technologies Corporation, The Archer-Daniels-Midland Company, LycoRed Ltd., AromataGroup SRL, Givaudan SA, Naturex Ltd., Mane Kancor Ingredients Private Ltd., FMC Corporation, Badische Anilin- und Sodafabrik SE, Frutarom Industries Ltd., GNT Group BV, San-Ei Gen., De Nederlandse Staatsmijnen, Roha Dyechem Pvt Ltd., Kolor Jet Chemical Pvt Ltd., Vidhi Specialty Food Ingredients Ltd., Alliance Organics LLP, Vinayak Ingredients India Pvt Ltd., Neelikon Food Dyes and Chemicals Ltd., Aarkay Food Products Ltd., SensoryEffects Flavor Company, Kolorjet Chemicals Pvt Ltd., Aakash Chemicals & Dyestuffs Inc., Natural Food Colors Inc., Ingredion Incorporated
Table of Contents
1. Executive Summary
2. Food Colors Market Report Structure
3. Food Colors Market Trends And Strategies
4. Food Colors Market – Macro Economic Scenario
5. Food Colors Market Size And Growth
…..
27. Food Colors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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