Global Natural Food Colors Market is primarily upsurge by the strict mandate by government regulatory on the use of synthetic food colors, according to our research report “Global Natural Food Colors Market Outlook 2023”.
The global natural food colors market is segmented on the basis of product type. Among these product types, carotenoids segment is expected to be largest revenue generating segment in over all products of natural food colors. The market of carotenoids was worth USD 351.3 Million in 2015 on account of rapid adoption of natural food colors by various food and beverages industries and presence of rich colour pigments which gives red, yellow and orange colours.
The natural food colors market accounted for USD 1.3 Billion in 2016 and the market is expected to reach USD 2.1 Billion by 2023. Furthermore, the market is anticipated to showcase a CAGR of 7.8% during the forecast period i.e. 2016-2023.
North America accounted for the largest market share of 38% in 2015 of natural food colors market globally. North-America region is expected to continue its dominance over the forecast period i.e. 2016-2023 on account of shifting of consumers towards natural additives enrich food and rising popularity of natural food colour across the region.
Asia-Pacific market of natural food colors is estimated to be the fastest growing market across the globe. The market revenue is anticipated to upsurge by 7.4% to reach USD 310.2 Million by the end of 2016 on account of rapid expansion of food and beverages industry across the region. This increase in industries further swells the demand for natural food colors with the purpose to provide healthy food with natural ingredients.
Stringent Regulations by government authorities:
Introduction of strict government regulations for the manufacturing of synthetic food colors are shifting the industries and consumers towards food products enrich with natural food colors. These regulations are introduced on account of rising concern towards health and environment hazards. Growing trend of consuming food containing natural ingredients due to rising health consciousness among the population is boosting the demand for natural food colors across the globe.
Growth in food industries:
Emergence of food and beverages industry in developing nations across the globe and adoption of natural food colors by these food industries is likely to swell the demand in near future. Advancements in food sector to serve healthy food enriched with natural ingredients to the consumers are prompting the demand for natural food colors.
However, instability of natural food colors and high manufacturing cost, lack of awareness in undeveloped nations and slow adoption of natural food colors in developing nations are hampering the growth of natural food colors market.
The report titled “Global Natural Food Colors Market Outlook 2023” delivers detailed overview of the Global Natural Food Colors Market in terms of market segmentation by Product Type, by Application Type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key manufacturers of the Global Natural Food Colors Market which includes company profiling of ITC Colors, GNT International, Chr. Hansen, Kalsec, Naturex, RAHO, etc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview on the Global Natural Food Colors Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stake holders to align their market centric strategies according to the ongoing and expected trends in the future.
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