Food Colorants Global Market Report 2024

The food colorants market has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The expansion observed in the historical period can be ascribed to consumer inclinations favoring visual appeal, adherence to regulatory approvals and safety standards, an increase in the production of bakery and confectionery items, the globalization of the food and beverage industry, and the impact of urbanization and evolving lifestyles.

The food colorants market is expected to see strong growth in the next few years. It will grow to $6.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated expansion in the forecast period can be linked to the increasing market for plant-based and natural foods, a rising demand for pet foods, consumer preferences focused on health, the growth of e-commerce in food sales, and the heightened consumption of functional foods. Noteworthy trends expected in the forecast period encompass the popularity of exotic and ethnic flavors, advancements in biotechnology, a trend towards customization in food product development, collaborative efforts for innovation, clean-label reformulation, and a commitment to sustainability and eco-friendly practices.

The anticipated growth in the food colorant market is expected to be propelled by the rising demand for confectionery products. Confectionery products, characterized by sweet food items often containing sugar or alternative sweeteners, encompass a diverse range of snacks such as candies, chocolates, cakes, pastries, and other sweet baked dishes. In the confectionery industry, food colorants play a crucial role in enhancing the visual appeal of products, making them more attractive to consumers. For example, as reported in the October 2022 Euromonitor International report from the Government of Canada, retail sales of confectionery in the United States are projected to increase from $42.6 billion (2,994.3 thousand metric tons) in 2022 to US$52.4 billion (3,268.0 thousand metric tons) in 2026. Thus, the surging demand for confectionery products serves as a driving force for the anticipated growth of the food colorant market.

The growing demand for organic food is expected to contribute to the expansion of the food colorants market. Organic food, produced through organic farming practices that eschew synthetic pesticides, fertilizers, genetically modified organisms (GMOs), and certain processing methods, has witnessed increased consumer interest. Those who prioritize organic products also favor natural colorants, aligning with the clean label trends associated with organic foods. The preference for natural colorants in organic food production is supported by organic certification standards, health and wellness perceptions, and regulatory backing. The expanding market for natural colorants is reinforced by consumers' heightened awareness and their inclination towards transparency in food ingredients. For instance, the Organic Trade Association reports that between 2020 and 2021, organic sales reached $63 billion, indicating a $1.2 billion (2%) year-on-year growth. Notably, food sales within the organic sector reached $57.5 billion, experiencing a 2% increase over the previous year. Therefore, the increasing demand for organic food emerges as a significant driver for the anticipated growth of the food colorants market.

The food colorants market is witnessing a prominent trend in product innovations. Key companies in the food colorants market are embracing new technologies to maintain their market positions. For instance, in July 2022, GNT Europa GmbH, a German food color manufacturer, introduced two new EXBERRY Coloring Foods featuring organic safflower to produce novel yellow and green shades. EXBERRY Organics 'Veg Green' incorporates organic safflower and organic spirulina, while EXBERRY Organics 'Fruit & Veg Yellow' comprises organic safflower and organic apple. Both products comply with the Organic Regulation (EU) 2018/848, are entirely vegan-friendly, halal, and kosher, and are crafted from edible fruits, vegetables, and plants using traditional physical processing techniques.

Major players in the food colorants market are also entering strategic partnerships to develop innovative products and fortify their market positions. Collaborative partnerships in this market foster innovation and process optimization, capitalizing on the collective expertise of biotechnology companies to deliver vibrant and enhanced food color solutions through advanced technologies such as fermentation. For instance, in February 2022, the Israel-based biotechnology company Phytolon partnered with the US-based biotechnology company Ginkgo Bioworks to enhance the production of vibrant cultured food colors through yeast fermentation. Leveraging Ginkgo's proficiency in large-scale engineering biology, the partnership aims to advance the production of betalain pigments - compounds responsible for vivid colors in foods such as beets and cactus fruit. The collaboration will optimize Phytolon's proprietary process for producing these pigments through the precision fermentation of specific yeast strains, maximizing the efficiency of generating purple and yellow betalain-producing strains and expanding Phytolon's color range across the 'yellow-to-purple' spectrum.

In April 2022, Sensient Technologies Corporation, a US-based specialized ingredient manufacturer, acquired Endemix Dogal Maddeler A.S. for an undisclosed amount. This acquisition enriches Sensient's portfolio by adding extraction and refining capabilities, providing vertical integration for natural colors, and strengthening its position as a leading supplier of natural color solutions. Endemix Dogal Maddeler A.S. is a Turkey-based vertically integrated manufacturer of natural colorants and extracts, serving clients in the food and beverage industries.

Major companies operating in the food colorants market report are Sun Food Tech Pvt. Ltd., Dow Inc., Koninklijke DSM N.V., Florio Colori S.P.A., Chr. Hansen A/S, Cargill Incorporated, GNT Group, FMC Corporation, BASF SE, Riken Vitamin Co. Ltd., Wild Flavors Inc., Sensient Technologies Corporation, The Archer-Daniels-Midland Company, Naturex SpA, D.D. Williamson & Co. Inc., Döhler GmbH, Kalsec Inc., IFC Solutions, Archer Daniels Midland Company, Kemin Industries Inc., Lycored Ltd., Mérieux Nutritionals, Symrise AG, Nutrition Plus, The Mondelez International Inc., The Lonza Group, The Merck Group, Omron Corporation, Givaudan SA, Haarmann & Reimer GmbH.

Europe was the largest region in the food colorants market in 2023. The regions covered in the food colorants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the food colorants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

These colorants come in two main types, natural and synthetic. Natural colorants are derived from plant-based pigments and minerals, representing items created by nature without human intervention. Natural food color encompasses colors, pigments, or substances obtained from various sources such as vegetables, animals, chemicals, or other natural origins. They are categorized by solubility, with types including dye and lake. These colorants are available in different forms such as powder and liquid, and find applications in various food products such as beverages, dairy and frozen items, bakery products, meat, poultry, seafood, confectionery, sauces and condiments, and others.

The food colorants market research report provides food colorants market statistics, including food colorants industry global market size, regional shares, competitors with a food colorants market share, detailed food colorants market segments, market trends and opportunities, and any further data you may need to thrive in the food colorants industry. This food colorants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The food colorants market consists of sales of beta-carotene, annatto extract, beet juice, purple carrot, and butterfly pea powder. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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