The Japanese food colorants market is projected to record a CAGR of 3.12% during the forecast period (2020 - 2025).
Key Highlights
- The motive to redeem the lost appeal of processed foods by presenting more appealing products to consumers has been favoring the market growth of the associated solutions, including food colorants.
- The increasing demand and consumer preference for minimally processed foods and health-promoting properties of natural colorants are estimated to drive the natural color segment of the market, with the growth rate being almost double, as compared to the synthetic color segment.
Key Market Trends
Synthetic Color Held the Largest Market Share
Owing to the abundant availability, low processing cost, and efficient application in the food industry, the synthetic color segment held the largest market share in the Japanese food colorants market. Further, synthetic colors are preferred by many food manufacturers due to their texture attributes and feasible consistency. However, the segment is experiencing a downfall, due to the increasing interest of consumers toward natural ingredients, which is estimated to alter the revenue share of the synthetic color segment during the forecast period.
Beverages Emerged as the Largest Consumer of Food Colorants
Beverages lead the Japanese food colorants market, as it accounted for the highest consumption rate among other industries. The escalating consumer preference for convenience foods is another factor boosting the market for on-the-go beverages, which is leading to new product launches and developments in the industry. Manufacturers are rolling out innovative products to fill the gaps to serve the needs of the application segment. For instance, in 2019, the Japanese firm, San-Ei-Gen, launched a red-radish-derived food colorant that does not impart off-flavors in applications, including beverages.
Competitive Landscape
The Japanese food colorants market is highly fragmented, owing to the presence of numerous regional and global players. Companies are not only competing on the basis of product quality and promotion but also on strategic initiatives, in order to gain market shares. New product launches, partnerships, expansions, and acquisitions are the major strategies adopted by the leading companies in the Japanese food colorants market. Some of the leading companies in the market are Chr. Hansen Holding AS, D.D. Williamson & Co., and Sensient Technologies Corporation.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
Methodology
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