An exhaustive survey on the coloring foodstuffs market by the Future Market Insights (FMI) provides insights into the key factors facilitating the growth in the market. It also examines growth prospects for the market across various segments on the basis of form, extract type, and end user. The report offers in-depth insights into scope for market expansion in the assessment period, 2021-2031.
DUBAI, UAE, Dec. 9, 2021 /PRNewswire/ -- As per the latest study by FMI, the global coloring foodstuffs market is estimated to reach US$ 613.5 Mn in 2021. Increasing demand for convenience and ready-to-eat food products with a traditional and exotic taste is augmenting the growth in the market.
Growing trend of veganism is being witnessed across the U.S., Australia, the U.K., India, and others. Citing this trend, customers are increasingly adopting clean-label food products made using plant-based ingredients. In response to this, the coloring foodstuffs market is projected to surpass US$ 922.3 Bn by the end of 2031.
As coloring foodstuffs are derived from fruits, vegetables, and herbs, they are gaining immense popularity in the production of beverages, confectioneries, dressings, and others. On account of this, sales in the market are projected to rise at 4.2% CAGR through 2031.
With growing prevalence of lifestyle-related disorders and rising health concerns across the globe, consumers are limiting the consumption of food products that contain artificial ingredients, synthetic additives, and chemicals.
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They are shifting their preference on consuming natural and organic food products to maintain a healthy lifestyle. This is expected to surge the demand for coloring foodstuffs at a rapid pace.
In terms of extract type, the fruits and vegetable segment is anticipated to cumulatively account for the largest share in the market between 2021 and 2031. Attributes driving the growth in segments are high content of antioxidants, vitamins, and other beneficial nutrients present in coloring foodstuffs sourced from fruits & vegetables.
"Key manufacturers are emphasizing on developing more attractive flavors and extracts to address the surging demand for high-quality natural ingredients from artisan bakeries. This is expected to bode well for the growth in the market," says a FMI analyst.
Key Takeaways from Coloring Foodstuffs Market Study
- The U.S. is estimated to account for the largest share in North America market, expanding at 6.7% CAGR between 2021 and 2031.
- U.K. coloring foodstuffs market is anticipated to register the fastest growth in Europe, at a CAGR of 6.6% over the assessment period.
- China is expected to hold the dominant revenue share in the East Asia market, projecting sales at a CAGR of 7.8% from 2021 to 2021.
- Sales of coloring foodstuffs in Germany are forecast to rise at 6% CAGR owing to the rising demand for plant-based food & beverage products in the country.
- Based on end use, the beverage segment is projected to emerge as the most remunerative segment in the market favored by growing demand for flavored beverages such as milkshakes, nutritional drinks, and soft drinks.
- Benefits associated with the consumption of coloring foodstuffs derived from fruits and vegetables such as lowering the risk of atherosclerosis, high cholesterol, cancer, hypertension, heart disease, and vision loss among others are propelling the demand across fruits and vegetable segments.
- Rising demand for natural food products owing to the increasing awareness regarding side effects of synthetic food colors such as restlessness, memory loss, hyperactivity, allergies, and others is facilitating the growth in the market.
- Stringent regulations and late approval on the use of certified synthetics food color across China, India, the U.S., and others are hampering the demand for coloring foodstuffs.
- Increasing demand for synthetic food colorings owing to their lowers cost, wider spectrum of hues, higher tectorial strength, and better uniformity compared to coloring foodstuffs is hindering the sales in the market.
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Key players in the global coloring ṇ foodstuffs market are focusing on launching novel product to expand their product portfolio and gain competitive edge. Some of the companies are adopting strategies such as new facility development, agreements, merges, and acquisitions to increase their production capacity. For instance,.
- In September 2021, Divi Nutracueticals, an India-based manufacturers of food colors, announced introducing a vegetables-sourced food color and ingredient, CatoNat from concentrate of carrot juice. The product launch has assisted the company to expand its portfolio of natural colors across food and beverage industry.
- In October 2021, GNT International B.V., a Ducth coloring foodstuffs company, announced completion of its initial phase of US$ 30 Mn product to expand its operation in Gaston County, North Carolina, U.S. The completed to the projected will assist the company to increase its production capacity and customer base in North America.
Some of the key players operating in the market profiled by FMI are:
- DDW The Color House
- Naturex S.A.
- Archer Daniels Midland Co. (Wild Flavors, Inc.)
- Chr. Hansen A/S
- ROHA Dyechem Pvt. Ltd
- GNT International B.V.
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More Valuable Insights on Coloring Foodstuffs Market
The latest report by FMI provides a detailed analysis of the global coloring foodstuffs market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in coloring foodstuffs market with detailed segmentation:
By Extract Type:
- Herbs and Spices
- Others (Cocoa, Coffee, etc)
By End Use:
- Bakery, Snacks, & Cereal
- Meat, Poultry, Fish, & Eggs
- Sauces, Soups, & Dressings
- Others (Pharmaceutical, Nutraceuticals, etc.)
- North America
- Latin America
- East Asia
- South Asia
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Key Questions Covered in the Report
- The report offers insight into coloring foodstuffs market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for coloring foodstuffs market between 2021 and 2031
- Coloring foodstuffs market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Coloring foodstuffs market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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