NEW YORK, Oct. 24, 2016 /PRNewswire/ --
"Food colors market projected to grow at a CAGR of 8.40%"
The food colors market is projected to reach USD 3.75 billion by 2022 at a CAGR of 8.40% from 2016. The market is driven by factors such as marketing strategies to improve product appeal through colorants, demand for clean label products driving natural colors market, and advancement in technological innovations. Ill effects caused by synthetic colorants, strict regulations regarding the inclusion of synthetic colors and low stability and high cost of natural colorants are the major constraints for this market.
"The natural food colors segment expected to be the largest and fastest-growing in the food colors market by 2022"
The natural food colors segment accounted for the largest market share and is projected to grow at the highest CAGR during the forecast period. The increase in demand for natural colors in different food products results in manufacturers preferring the use of natural colors over synthetic colors due to increase in health awareness; these factors have fueled the demand for natural food colors.
"Beverages segment projected to be the fastest growing segment by 2022"
The beverages segment is projected to grow at the highest CAGR during the forecast period. There is an increased usage of food colors in beverage products such as flavored drinks, soft drinks, nutritional drinks, and other beverages. The beverage industry has been growing worldwide with the establishments by various beverage manufacturers, especially in the Aisa-Pacific region. This segment is projected to be fastest-growing in the food colors market in the next five years.
"The dyes segment to be the largest and fastest-growing segment by 2022"
The market for food colors by solubility is dominated by the dyes segment and is projected to be the fastest growing segment during the forecast period. Dyes dominated the market due to their use in large number of applications in food & beverage industries and their properties such as greater stability, and brighter coloring than most natural colorings.
"Asia-pacific to be the fastest growing region from 2016 to 2022"
The market for food colors in the Asia-Pacific region is projected to grow at the highest CAGR. This can be attributed to the higher level of production in the countries such as Australia and New Zealand, the increase in demand for convenience food, growth in population, rise in disposable income, and progressive urbanization in the region. The region is mainly driven by the developed food industry in China, Japan, and Australia & New Zealand and increase in trade of food color products globally from these countries.
The breakdown of the primaries on the basis of company, designation, and region, conducted during the research study, is as follows:
- By Company type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
- By Designation: Director Level – 40%, C Level – 20%, , and Others – 40%
- By Region: North America – 25%, Europe – 50%, and Asia-Pacific – 25%,
Key players include:
- Archer Daniels Midland Company (U.S.)
- Chr. Hansen S/A (Denmark)
- Sensient Technology Corporation (U.S.)
- Koninklijke DSM N.V. (Netherlands)
- FMC Corporation (U.S.)
The above-mentioned companies have collectively accounted for the largest portion of the food colors market in 2015. Other players also have a strong presence in this market. These players are as follows:
- Naturex S.A. (France)
- D.D. Williamson & Co. Inc. (DDW) (U.S.)
- Döhler Group (Germany)
- Kalsec Inc. (U.S.)
- Fiorio Colori (Italy)
The key players in the food colors market adopted new product launches/developments & new technology launches as their key growth strategy to increase their market share and profits. This accounted for the highest percentage of the total developments, followed by expansions & investments.
The food colors market has been segmented on the basis of type, application, form, solubility, and region. In terms of insights, this research report has focused on various levels of analyses—industry analysis and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the food colors market; high-growth regions, countries, and their respective regulatory policies; government initiatives, drivers, restraints, and opportunities.
Reasons to buy this report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on food colors offered by the top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the food colors market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for food colors across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global food colors market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the food colors market
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