Natural Food Colors Market to Be Worth $3.74 Billion by 2031--Exclusive Report by Meticulous Research®

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May 02, 2024, 13:15 ET

REDDING, Calif., May 2, 2024 /PRNewswire/ -- According to a new market research report titled, 'Natural Food Colors Market by Type (Carotenoids {Beta Carotene, Lycopene}, Anthocyanins, Betanin, Carmine), Source (Plants, Animal), Form (Liquid), Solubility (Water, Oil), Application (Processed Food Products, Beverages}, and Geography–Forecast to 2031', published by Meticulous Research^®, the global natural food colors market is projected to reach $3.74 billion by 2031, at a CAGR of 6.8% from 2024 to 2031. In terms of volume, the global natural food colors market is projected to reach 194,987.6 tons by 2031, at a CAGR of 5.3% during the forecast period of 2024–2031.

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Natural food colors are derived from fruits, vegetables, minerals, spices, animals, and microorganisms for coloring food and beverage applications. However, there is no formal definition for "natural colors" from the food authorities, the Food and Drug Administration (FDA) in the U.S., or the European Food Safety Authority (EFSA) in Europe. According to the Natural Food Colours Association (NATCOL), natural food colors originate from a wide range of sources like vegetables, fruits, plants, minerals, and other edible natural sources. They offer a wide spectrum of colors and impart color when added to food or drink. There are different types of colors, like carotenoids, lutein, anthocyanins, chlorophyll, curcumin, carmine, phycocyanin, and betanin, among others.

The growing demand for organic foods, increasing awareness of clean-label products, the growing need to enhance product appeal, increasing R&D activities in the food industry, and the emergence of microencapsulation technology for food colors are some of the factors driving the growth of this market. However, the high prices of natural colors and stringent regulations on the use of food colors are expected to restrain the growth of the natural food colors market. Moreover, the increasing interest in new raw material sources, the growing demand for plant-based food, and emerging economies are expected to provide significant opportunities for stakeholders operating in the global natural food colors market.

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Key Players:

The key players operating in the global natural food colors market are Oterra A/S (Denmark), Givaudan SA (Switzerland), Sensient Technologies Corporation (U.S.), Archer-Daniels-Midland Company (U.S.), DSM-Firmenich AG (Switzerland), BASF SE (Germany), Lycored, Ltd (A Part of ADAMA Agricultural Solutions Ltd.) (Israel), Döhler Group (Germany), GNT Group B.V. (Netherlands), San-Ei Gen F.F.I., Inc. (Japan), Kalsec, Inc. (U.S.), Innovation Colour Technology S.L. (Spain), IFC Solutions (U.S.), Mane Kancor Ingredients Private Limited (India), and Kolorjet Chemicals Pvt Ltd. (India).

The global natural food colors market study presents historical market data (2022 and 2023), estimated current data (2024), and forecasts for 2031—by type (carotenoids {beta carotene, annatto, lutein, lycopene, canthaxanthin, astaxanthin, and other carotenoids}, anthocyanins, caramel, chlorophyll, curcumin, betanin, carmine, phycocyanin, and other natural food colors), source (plants, minerals, microorganisms, and animals), form (liquid, powder, and other forms), solubility (water-soluble and oil-soluble), application (processed food products {bakery and confectionery, dairy, meat, poultry, and seafood, snacks and cereals, oils and fats, and other processed food products} and beverages {non-alcoholic beverages [carbonated soft drinks, juice and juice concentrates, dairy & dairy alternatives, and other non-alcoholic beverages] and alcoholic beverages}, and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Key Findings in the Natural Food Colors Market Study:

Among all the types covered in this report, the carotenoids segment is expected to account for the largest share of the global natural food colors market in 2024. The carotenoids market is estimated to be worth USD 960 million in 2024. However, the phycocyanin segment is expected to witness the highest CAGR of 12.3% during the forecast period of 2024–2031. This growth is primarily fueled by escalating health and wellness trends, consumer inclination towards natural ingredients over synthetic colors, and rising demand for natural blue hues in beverages and confectionery products. Moreover, food and beverage manufacturers are increasingly turning to spirulina-derived food colors, such as phycocyanin, in response to rising safety concerns associated with synthetic additives. This shift towards natural alternatives is expected to further drive the growth of the phycocyanin segment in the global natural food colors market during the forecast period.

Among all the sources studied in this report, the plants segment is expected to account for the largest share of 76% of the global natural food colors market in 2024. This segment's large market share can be attributed to the high demand for plant-based food coloring, which is perceived as a healthier and more natural alternative to synthetic food colors. Moreover, the growing consumer inclination towards clean-label products further propels the demand for plant-based food colors.

Among all the forms studied in this report, the liquid segment is projected to register the highest CAGR during the forecast period of 2024–2031. This growth is primarily attributed to the increasing adoption of liquid forms of natural food colors due to their high microbial stability properties, convenience in application, and affordability. Furthermore, liquid food coloring enhances viscosity, mouthfeel, product stability, texture, shelf life, taste, and visual appeal of the product, making it a preferred choice for food and beverage manufacturers.

Among all the solubilities studied in this report, the water-soluble segment is expected to account for the larger share of the global natural food colors market in 2024. The growth of this segment is mainly attributed to the rising demand for water-soluble food coloring in food and beverage products, driven by its advantages, such as high color concentration and stability when dissolved in water. Moreover, this segment is further projected to register a higher CAGR during the forecast period of 2024–2031 due to the growing plant-based food & beverage products demand and innovation in natural colorant technology.

Among all the applications studied in this report, the beverages segment is expected to register the highest CAGR of 7.9% during the forecast period of 2024–2031. This growth can be attributed to the escalating popularity of clean-label ingredients within the functional and wellness beverages market, which drives the demand for natural food colors among beverage manufacturers. The rise in demand for functional beverages offering additional health benefits aligns with the use of natural colors that enhance both visual appeal and perceived health benefits.

Geographically, Europe is expected to account for the largest share of the global natural food colors market in 2024. The Europe natural food colors market is projected to reach around USD 1,150 million by 2031. Europe's significant market share can be attributed to the increasing demand for clean-label and organic products as well as stringent regulations on synthetic food colors. Additionally, the presence of key market players and growing investments in research and development activities contribute to the growth of the natural food colors market in Europe. Moreover, a strong emphasis on sustainability and health-conscious food preferences and the trend toward plant-based and vegan diets are expected to create opportunities for players operating in this market during the forecast period of 2024–2031.

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Scope of the Report:

Natural Food Colors Market Assessment—by Type

Carotenoids
- Beta Carotene
- Annatto
- Lutein
- Lycopene
- Canthaxanthin
- Astaxanthin
- Other Carotenoids
Anthocyanins
Caramel
Chlorophyll
Curcumin
Betanin
Carmine
Phycocyanin
Other Natural Food Colors

Natural Food Colors Market Assessment—by Source

Plants
Minerals
Microorganisms
Animals

Natural Food Colors Market Assessment—by Form

Liquid
Powder
Other Forms

Natural Food Colors Market Assessment—by Solubility

Water-soluble
Oil-soluble

Natural Food Colors Market Assessment—by Application

Processed Food Products
- Bakery and Confectionery
- Meat, Poultry, and Seafood
- Dairy
- Snacks and Cereals
- Oils and Fats
- Other Processed Food Products
Beverages
- Non-alcoholic Beverages
  - Carbonated Soft Drinks
  - Juice & Juice Concentrates
  - Dairy & Dairy Alternative Beverages
  - Other Non-alcoholic Beverages
Alcoholic Beverages

Natural Food Colors Market Assessment—by Geography

Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
North America
- U.S.
- Canada
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East & Africa

Related Reports:

Carotenoids Market by Type (Astaxanthin, Beta-carotene, Lutein, Lycopene, Zeaxanthin), Form (Beadlets, Liquid), Source (Synthetic, Natural), Application (Feed, Food & Beverages, Dietary Supplements, Cosmetics, Pharmaceuticals) - Global Forecast to 2030

Natural Carotenoids Market by Type (Astaxanthin, Beta-carotene, Lutein, Lycopene), Form (Beadlets, Powder, Gel), Source (Microorganisms, Algae), Application (Feed, Food & Beverage, Dietary Supplements, Cosmetics) - Global Forecasts to 2028

Organic Food Market by Type (Fruits, Vegetables, Grains, Beverages, Bakery), Distribution Channel (Supermarket, Hypermarkets, E-commerce), Process (Un-processed, processed, Ultra-processed), Packaging Type (Fresh, Frozen) - Global Forecast to 2030

Plant-based Food Market by Type (Dairy Alternatives, Plant-based Meat, Meals, Confectionery, Beverages, Egg Substitutes, Seafood), Source (Soy, Wheat, Pea, Rice), Distribution Channel (B2B, B2C [Convenience Store, Online Retail])—Global Forecast to 2029

Algal Pigments Market by Type (Beta-Carotene, Astaxanthin, Phycocyanin, Phycoerythrin, Chlorophyll), Form (Powder), Source (Microalgae, Macroalgae), Application (Food & Beverages, Aquaculture, Nutraceuticals, Pharmaceuticals, Cosmetics) - Global Forecast to 2030

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