SEATTLE, May 29, 2020 (GLOBE NEWSWIRE) -- Natural food colors are used to make food products more delightful, nutritive, attractive and healthy. The global natural food colors market is projected to reach around US$ 2,690.5 million by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020-2027)
Market Drivers:
Moreover, launch of plant-based, halal, and kosher food colors is expected to propel growth of the global natural food colors market over the forecast period. For instance, in May 2020, GNT Group launched two new EXBERRY Coloring Foods made from paprika and carrot and designed for non-aerated confectionery, bakery, and savory products.
Moreover, increasing demand for organic food is also expected to aid in growth of the global natural food colors market over the forecast period. For instance, according to 2019 Organic Industry Survey by the Organic Trade Association, Organic food sales in the U.S. increased 5.9% in 2018 to reach US$ 47.9 billion and organic food sales made up 5.7% of overall food sales, which rose 2.3% in 2018
Market Opportunities:
Increasing consumption of vegan food is expected to offer lucrative growth opportunities for players in the global natural food colors market. For instance, according to The Vegan Society, the number of people consuming only vegetarian food in the U.K. increased from 276,000 in 2016 to 600,000 in 2019.
Moreover, increasing concerns regarding the harmful effects of synthetic food colors is also expected to aid in growth of the market. Synthetic food colors may cause hyperactivity in children or lead to cancer and allergies.
Market Restraints:
Increasing preference for do-it-yourself natural food colors is expected to hinder growth of the market.
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Key Takeaways:
Among product type, carotenoid segment dominated the global natural food colors market in 2019 and was valued at US$ 501 Mn in 2019. This is attributed to benefits associated with carotenoid such as it enhances immune system and act as an antioxidant for humans.
Asia Pacific accounted for 30.4% market share in terms of revenue in global natural food colors market, followed by Europe and North America in 2019. The growth is attributed to growing food and beverages industry in emerging economies such as India and China. For instance, according to India Brand Equity Foundation, the food and beverage industry was valued at US$ 66.3 billion in 2018 and is expected to grow at a faster pace. The food processing industry in India accounted for 32% of the country’s total food market in 2019.
Market Trends:
Increasing trend of posting eye-catching food products on social media sites is expected to increase demand for natural food colors. Modern consumers are engaged in posting colorful food products on their social media handles. Use of natural food colors aids in offering vibrant colored foods.
Moreover, increasing focus of consumers on the ingredients of various foods and high demand for clean label foods is also expected to aid in growth of the market.
Regulations:
U.S
- Food colorants are categorized into whether they require or not the batch certification carried out by the U.S. Food and Drug Administration
- Title 21 CFR 74 contains list of approved colorants that require certification
- Title 21 CFR 73 contains list of the colorants exempted from certification. Colorants within this category are mainly natural or nature-identical.
EU
- Regulation (EU) No. 1333/2008 regulates authorized food colorants
- Legislation includes indistinctly natural or artificial colorants
Competitive Landscape:
Major players operating in the global natural food colors market include, GNT International B.V., Roha Dyechem Pvt. Ltd., D.D. Williamson & Co., Inc., Kalsec Inc., Chr. Hansen A/S, Archer Daniels Midland Company, Adama Agricultural Solutions Ltd. (LycoRed), Naturex S.A., Sensient Technologies Corporation, and Symrise AG.
Key Developments:
Major players in the market are focused on adopting various marketing strategies to enhance their market share. For instance, in January 2020, GNT Group announced to present its EXBERRY Coloring Foods at ProSweets Cologne 2020 to be held during 2-5 February 2020.
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Market Segmentation:
By Type
- Carotenoid
-
- Beta-carotene
- Annatto
- Lutein
- Lycopene
- Curcumin
- Anthocyanin
- Paprika
- Spirulina
- Chlorophyll
- Others
By Application
- Beverages
- Alcoholic
- Non-alcoholic
- Packaged/Frozen Food
- Confectionery and Bakery Items
- Dairy Products
- Others
- Functional Food
- Condiments
- Pet Food
By Geography
- North America
- Latin America
- Europe
- APAC
- MEA