(MENAFN - GetNews) The increasing health awareness and inclination towards environmentally friendly products is driving the demand for the market. Natural Food Colors Market Size – USD 1.80 Billion in 2019, Market Growth - CAGR of 5.3%, Market Trends – Increased demand for natural food colors.
The Natural Food Colors Market is projected to reach USD 2.76 billion in 2027. The product demand in the coming years is expected to fuel increased concern about the health risks associated with synthetic and natural similar colors.
Due to the increasing product penetration in major application industries like beverages and bakery and confectionaries, the market is expected to expand. Therefore, the industry is expected to benefit from the strict rules for synthetic colors which lead to increased replacement.
A major deterrent for market growth is expected to be a high reliance on raw materials like fruits, vegetables and spices and substantial price volatility of the aforementioned goods. Nonetheless, increased investment in research and development is expected to drive demand over the forecast period for improved production output.
The industry is marked by the presence of a large number of high volume manufacturers, most of whom are integrated into the value chain throughout the entire production process. Therefore, the companies engage in the distribution of the goods mainly by direct distribution as well as through third parties in an effort to increase the market reach of these firms.
Due to a growing appetite for alternative non-synthetic products to prepare pastries, muffins and cupcakes, appetite for the drug is expected to rise significantly in the bakery market. The use of natural colors in frosting and icing will also lead to global market development.
During the forecast era, the Asia-Pacific region will rise to the highest CAGR. The region's rapid growth is mainly due to the growing consumer preference for natural components, increased consumer awareness about the adverse impact of synthetic dyes, combined with the increasing consumer expenditure capacity, and strong growth in Food & Beverage. The government is also expected to enhance the rising natural food color market in the region by increasing regulations on the restricted use.
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The COVID-19 impact:
The pandemic COVID-19 does not affect business profitability. Key market leaders are unsure of the prospects of the industry and are finding solutions to this issue. Most hospitals have impacted their pandemic and other programs greatly. In different parts of the world, there's no money to stop rising lockouts. Concerning COVID-19, domestic product, export and import demand dropped significantly. In order to build cash reserves, the largest companies in the world prefer to reduce their budgets. Real productivity rates would eventually lead to new ways in which employees and businesses meet their demands at much lower costs.
Further key findings from the report suggest
- The food color category from plants accounted for the largest proportion of the total natural food colors market in 2019. The big share of this segment is mainly due to the rising demand for organic food colors from different sections of plants.
- The food color segment from animal sources is expected to grow at the highest CAGR by 2027. The growing use of colored animal colors as a coloring agent in many food products, beverages and packaged food products with Halal certification can be attributed to this development.
- The consumption of the drug in drinks was largely due to rising global volumes of nutritious drinks, including snacks, sports drinks, soft sofas and alcoholic beverages.
- Anthocyanin will be the fastest growing due to the high rates of synthetic blues substitution in 2019 to 2027 due to several associated health risks.
- Major players in the natural colors of food conduct their company across a wide variety of goods and a number of facilities worldwide. The companies also engage in the production of innovative and reliable goods, in order to boost their share and increase sales.
- The industry in Asia Pacific is projected, led by the rapid growth of the food & beverage industry in the region, to account for more than the bulk of the revenue market by 2027. Increasing commodity demand would likely increase demand in developing economies of the region.
- In March 2019, DDW, Inc., which was part of DuPont's Nutrition & Biosciences division, purchased DuPont Natural Colds Company. Two production sites in the UK were added. And Chile and all related DDW Color House customer contracts. DDW stated that the acquisition will extend the global reach of the brand by adding technological and manufacturing capacities in various core colors.
- Key players in the market include Koninklijke DSM N.V., CHR Hansen Holding A/S, Döhler Group, Sensient Technologies Corporation, D.D. Williamson & Co., Archer Daniels Midland Company, Inc., Kalsec Inc., Naturex S.A., Aromata Group S.r.l, and FMC Corporation, among others.
For the purpose of this report, Reports and Data has segmented into the Natural Food Colors Market on the basis of Product, Application, and Region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Copper Chlorophyllin
Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Bakery & Confectionery
- Dairy & Frozen Products
- Meat Products
- Oil & Fat
- Fruits & vegetables
Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Saudi Arabia
- Rest of MEA
To identify the key trends in the industry, click on the link below:
Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Natural Food Colors Market Segmentation & Impact Analysis
4.1. Natural Food Colors Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
184.108.40.206. Increasing bakery & confectionary product demand
220.127.116.11. Increasing demand for natural colors
18.104.22.168. Increasing consumer awareness for clean-label products
4.2.3. Market restraints analysis
22.214.171.124. Stringent food safety regulations
126.96.36.199. Health hazards of synthetic colorants
188.8.131.52. Lack of skilled labor during COVID-19
Chapter 8. Competitive Landscape
8.1. Market Revenue Share By Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Market positioning
8.5. Strategy Benchmarking
8.6. Vendor Landscape
Chapter 9. Company Profiles
9.1. Koninklijke DSM N.V.
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Technology Insights
9.1.4. Strategic Initiatives
9.2. CHR Hansen Holding A/S
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Technology Insights
9.2.4. Strategic Initiatives
9.3. Döhler Group
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Technology Insights
9.3.4. Strategic Initiatives
9.4. Sensient Technologies Corporation
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Technology Insights
9.4.4. Strategic Initiatives
9.5. D.D. Williamson & Co.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Technology Insights
9.5.4. Strategic Initiatives
9.6. Archer Daniels Midland Company, Inc.
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Technology Insights
9.6.4. Strategic Initiatives
9.7. Kalsec Inc.
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Technology Insights
9.7.4. Strategic Initiatives
9.8. Naturex S.A.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Technology Insights
9.8.4. Strategic Initiatives
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