Factors such as the growing demand for natural food colors have significantly fueled the market for food colors due to the increasing consumer awareness for clean-label products and additional health benefits of certain natural food colors.
Northbrook, IL -- (SBWIRE) -- 04/17/2019 -- The report "Food Colors Market by Type (Natural, Synthetic, Nature-Identical), Application (Beverages, Processed Food, Bakery & Confectionery Products, Oils & Fats, Dairy Products, Meat, Poultry, Seafood), Form, Solubility, and Region - Global Forecast to 2023", The food colors market is estimated to be USD 3.88 billion in 2018 and is projected to reach USD 5.12 billion by 2023, at a CAGR of 5.7% during the forecast period. The demand for natural food colors is increasing significantly across all regions. The various health benefits associated with their consumption are major factors driving their growth. The demand for food with a natural and clean label is increasing across the world, owing to increasing health awareness, increasing spending power of consumers, and increasing instances of food adulteration.
Browse 129 market data Tables and 57 Figures spread through 206 Pages and in-depth TOC on "Food Colors Market - Global Forecast to 2023"
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Processed food segment is estimated to account for the largest share of the food colors market, by application, in 2018.
On the basis of application, the processed food segment is estimated to hold the largest share of the food colors market in 2018. The purpose of food coloring is to replace the color lost during food processing to enhance the inherent color, minimize variations, and to color uncolored food. These factors are contributing to the growth of the processed food segment.
Natural segment, by type, is estimated to hold the largest share in 2018.
On the basis of type, the natural segment accounted for the largest share of the market in 2018. Food safety concerns caused by the chemical contamination of food and ill-effects of synthetic additives have resulted in an increasing number of consumers demanding clean label products. This rising demand has led to the launch of several new products bearing claims such as "natural."
On the basis of form, the liquid segment is projected to be the fastest-growing during the forecast period.
Based on form, the liquid segment is projected to be the fastest-growing. Food colors in liquid form are used for food items that require lighter and more pastel colorings for items such as cake icings, candies, and meat substitutes. They are easy to mix and provide color consistency.
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Europe is estimated to dominate the food colors market in 2018.
Europe is estimated to be the largest market for food colors in 2018. This is due to the rising awareness about safe food products among consumers, and stringent food safety regulations in the region. Germany is one of the largest processed food markets with stringent regulations to keep a check on the quality of food products. This leads to the growth of the food colors industry; more the production of food, more colorants will be required.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as ADM (US), DowDuPont (US), Sensient Technologies (US), Kalsec (US), DDW (US), Chr. Hansen (Denmark), DSM (Netherlands), Naturex (France), Döhler Group (Germany), Fiorio Colori (Italy), LycoRed (Israel), and Frutarom (Israel).
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