Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Colorant refers to an additive that is added to the product to change the color of the product. Pigments are dyes are the major colorants which are frequently used in industries. These are mainly used in food, cosmetics and personal care products. Addition of colorants makes the food more attractive to the consumers. Natural colorants are gaining traction among population owing to the rising healthcare awareness.
Global colorants market is anticipated to flourish at a CAGR of 5.2% over the forecast period. Further, the market of colorants is expected to garner USD 66.3 Billion by the end of 2024 from USD 46.8 Billion in 2016. Rising demand for colorants from the food & beverage, clothing and cosmetics industry is envisioned to bolster the market of colorants globally.
In the regional platform, Asia Pacific is expected to witness lucrative growth during the forecast period. Further, the market of colorants in this region is likely to get escalated by growth and expansion of various end use industries in the region such as plastic, textile & coatings and increasing demand for colorants from these industries. Moreover, increasing number of manufacturing units in the region is expected to boost the demand for colorants. Countries such as China and India are expected to significantly contribute to the growth of global colorants market.
North America colorant market is anticipated to grow at a significant pace and create significant demand for colorants during the forecast period. Construction activities such as architectural coatings are expected to create substantial demand for colorants during the forecast period. Further, pigment and dye segment is projected to grow at robust CAGR over the forecast period. Apart from this, the demand for colorants is increasing in Europe region owing to the rising preference for natural colorants.CLICK TO DOWNLOAD FREE SAMPLE
Based on application, the global colorants market is segment into food & beverage, personal care, printing, paints & coatings and other. In these segments, food & beverage segment was held for the largest market share of global colorants market. Rising consumption of natural colorants in the food industry is expected to spur the growth of this segment.
Our in-depth analysis has segmented global colorants market into the following segments:
Global colorants market is further classified on the basis of region as follows:
The growing demand for colorants is driven by the increasing application of colorants in various end use industries. Further, expansion of end use industries is supplementing the growth of global colorants market. Apart from this, rising demand for plastics is anticipated to foster the growth of colorants market globally. Moreover, rising utilization of pigments in automotive and construction sector is expected to augment the growth of global colorant market.
Apart from this, development of new shades and flavors is expanding the market of colorants globally. Moreover, wider acceptance of various shades in personal care and plastic industry is expected to fuel the growth of global colorants market during the forecast period. Further, growing preference of the consumer for the attractive packaging of the product is expected to drive the growth of colorants market.
However, volatility in the raw material price is expected to limit the growth of the global colorants market. Further, stringent government regulations limiting the use of synthetic colorants in food & beverage is limiting the growth of the colorants market globally.
Overview of the Parent Market
Analyst View
Segmentation
The global colorants market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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