The numerous number of initiatives and promotions by various authorities in order to grow awareness towards eco-friendly and healthy food colors as compared to the chemicals causing harmful effects on consumers’ health by synthetic food colors are driving the growth of the global natural food colors market. Further, there is a rapid expansion of food and beverages sector so as to make food more attractive, appealing, and appetizing and to provide color to colorless foods. Additionally, rapid urbanization and growing awareness among consumers regarding consumption of organic and chemical free foods is driving the demand for the natural food colors across the globe.
The global natural food colors market accounted for USD 1,126.5 Million in 2016 and is estimated to reach USD 1,657.7 Million by the end of 2023. Further, the global natural food colors market is estimated to witness a robust CAGR of 5.8% over the forecast period 2018-2023.
In terms of market segmentation, the global natural food colors market is divided by product, end-user and applications. Among these segments, the end-user segment is further divided into soft drinks, confectionary, meat & savoury, oils & fats, fruits & vegetables, dairy and others. The soft drinks segment dominated the end-user segment during 2016 and is predicted to behold its positive growth over the forecast period. Further, the confectionary and meat & savoury segments are estimated to grow significantly in upcoming years, out of which, the meat and savoury segment is estimated to witness a CAGR of 5.8% over the period 2018-2023.
The global natural food colors market is segmented by applications into food & beverages, pet food, carbonated soft drinks and others, out of which, the demand for food and beverages is expected to dominate the application segment by having a share of more than 4o% in 2023. Besides, the pet food segment is estimated to grow significantly by growing at a highest CAGR of 5.7% and is expected to observe the growth rate of 1.5x over the forecast period.
The Report titled “Global Natural Food Colors Market – Industry Demand Analysis & Opportunity Assessment 2016–2023” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
This report also studies existing competitive scenario of some of the key players of the global natural food colors market which includes profiling of GNT International, ITC, Chr. Hansen Holding A/S, Kalsec Inc., Naturex, Sensient Flavors, ROHA Dyechem and Dohler Group.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Natural Food Colors Market Outlook 2023”, analyses the overall natural food colors industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global natural food colors market in the near future.