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Market Research Future published a cooked research report on global food color value market which is estimated to grow at 6.58% by 2022.Market Overview
Food color is a pigment, dye or substance that imparts color when it is added to food or beverages. Food color comes in various forms such as liquid, powder, gel and pastes. Food colors are used in commercial food as well as in domestic cooking. The main purpose of using food color is to make the food appealing towards the consumer. The food color is added to a certain food in order to stimulate the loss of color during the processing period so as to enhance the quality of the product and also to influence the consumer to purchase the products.
Market Forecast
Synthetic food color mainly botanicals, typically contain more than 90% pigment in the actual raw material. Also, the costs related with the crop management and cultivation are economical which supports to keep the price of the synthetic color low which in turn will drive the sales of food color during the forecast period. One of the significant reason of the increasing growth of global food color market is rising demand of clean label products. 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 and wellness and their growing interest to adopt natural color instead of synthetic color is supporting the growth of this market. This has attributed to increasing incidence of diseases and rising health cognizant consumers both in developed and developing economies over the past few years.
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By Application Analysis-
Among the application, beverages segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register the highest CAGR of 5.75% during the forecast period. This is due to the rising demand of various carbonated and non-carbonated beverages both in developed and developing economies. Also, food colors are widely used in meat products in order to keep the products fresh. Food color industry also finds massive opportunity in the bakery & confectionery industry.
The global food color market is mainly occupied by some key manufacturers. The competitive environment in this market is expected to increase with an increase in product portfolio from current key players. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.
Regional Analysis
The global food color market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Among this Europe has the major market share followed by Asia-Pacific. Asia-Pacific region is projected to grow at the fastest CAGR of 5.75% during the forecast period.
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Market Segmentation-
Food color market has been segmented on the basis of type of food color into natural and synthetic. On the basis of application, market is segmented into beverages, bakery & confectionery, dairy products, meat products, savory & snacks and others. On basis of form, market is segmented into liquid, gel, powder and paste. On basis of solubility, the market is segmented into dyes and lakes.
Key Findings
Asia-Pacific is the fastest growing region in the food color market. India and China has shown huge potentials for food color market share during the period 2017-2022
In North American region, U.S. dominates the market.
European region dominates the global Food Colors Market
Table of Content
1 Executive Summary
2 Introduction
2.1 Definition
2.1.1 Food Color
2.1.1.1 Natural Food Color
2.1.1.2 Synthetic food color
2.2 Scope of the Study
2.2.1 Study Objectives
2.3 Assumptions
2.4 Limitations
2.5 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Forecast Model
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Increasing demand for clean label products
4.2.2 Strong growth of bakery & confectionaery products
4.2.3 Improvement Of Product Appeal
4.2.4 Increasing demand for organic food & beverages
4.2.5 Synthetic color, an economical solution
4.3 Restraints
4.3.1 Adverse effect of artificial food coloring
4.3.2 High cost of natural food color
4.3.3 Stringent government rueles & regulation regarding synthetic fod colour
4.4 Opportunities
4.4.1 Penetration into developing economies
4.4.2 Advancement of technology
4.4.3 New sources of raw material
4.5 Challanges
4.5.1 Lack of awareness in undeveloped nations
4.6 Mega Trends – Global Food Color Market
4.6.1 Import & Export Scenario
4.7 PESTLE Analysis – Global Food Color Market
4.8 Porter’s 5 Forces Analysis
4.8.1 Threat of New Entrants
4.8.2 Threat of Substitute
4.8.3 Bargaining power of buyers
4.8.4 Bargaining power of suppliers
4.8.5 Intensity of rivalry
4.9 Value Chain Analysis
4.10 Supply Chain Analysis
5 Global Food Color Market, By Region
5.1 Introduction
5.2 Global Food Color Market Overview
CONTINUED……………………………………………………………………..
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Release ID: 256309