Global food colorants market is
expected to reach USD 2.46 billion by 2020, according to a new study by Grand
View Research, Inc. Food colorants demand is expected to grow with increasing
applications in confectionery and bakery items, medicines and pharmaceutical
drugs, beverages, cosmetics and toiletries, meat, sea food and pet food. Rising
consumer awareness for natural ingredients is expected to drive natural
colorant demand over the next six years.
Dairy foods were the largest
application market for food colorants, with demand estimated at 19,154.5 tons
in 2013. Food colorants are added in foodstuffs to retain color lost during
processing which adds appeal to the product. Food colorants are also
extensively used in beverages, particularly CSDs & non alcoholic kinds, in
order to make the product visually more attractive to the younger population.
In depth research report on Food Colorants Market
Further key findings from the study suggest:
•
Global food colorants demand
was 51,510.0 tons in 2013 and is expected to reach 67,724.0 tons by 2020
growing at a CAGR of 4.0% from 2014 to 2020.
•
Synthetic food colorants were
the largest product segment, with demand estimated at 17,907.7 tons in 2013;
owing to increased consumption of processed foods which use synthetic colors in
emerging markets
•
Europe was the largest regional
market for food colorants, with revenue exceeding USD 590 million in 2013.
Increased consumer preference towards functional foods and beverages,
particularly with natural or organic colorants is a key factor responsible for
the regional market growth.
•
Dairy and non dairy food
applications are expected to be the fastest growing application markets, at an
estimated CAGR of 4.1% from 2014 to 2020. Increasing demand for foods
containing natural products is expected to drive demand for the application.
•
Key Companies in the market
include CHR. Hansen, Danisco, BASF, DSM, and Sensient Technologies Corporation.
The global market is significantly consolidated with somewhat oligopolistic
characteristics. While the market is expected to continue moving towards
consolidation, R&D spending is expected to increase as participants focus
on naturally derived food colorants with nutraceutical benefits.
Grand View Research has
segmented the global food colorants market on the basis of product, application
and region:
Food Colorants Product Outlook (Volume, Tons; Revenue, USD
Million, 2012 - 2020)
•
Synthetic
•
Natural
•
Natural Identical
•
Ceramic
Food Colorants Applications Outlook (Volume, Tons;
Revenue, USD Million, 2012 - 2020)
•
Food
•
CSDs & Non Alcoholic
Beverages
•
Alcoholic Beverages
Food Colorants Regional Outlook (Volume, Tons; Revenue,
USD Million, 2012 - 2020)
•
North America
•
Europe
•
Asia Pacific
•
RoW
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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