Food Color Market Size and Growth Rate:
The Food Colors Market Size is valued
at USD 3.69 billion in 2017 and it is projected to reach a CAGR of 5.2% and is
projected to reach a value of USD 5.08 billion by 2023.
Browse 166 Pages of Research Report developed on the Food
Color Market @ https://www.researchcosmos.com/reports/food-color-market/1715688429
Food Color Market Overview:
Food Colours are used primarily by the food and beverages industry
to improve andconveycolour for the visual appeal of the food that is usually lost
while processing.Natural food colour is projected to be the largest product
segment accounting for over 80% of the total market revenue. The demand for
this product is growingconsiderably worldwide, owing to the growing consciousness
among consumers regarding the health benefits associated with natural food colours.
The market for food colours is anticipated to grow on account of growing
product use by consumers across the emerging economies.
Food Color Market Growth Drivers and Restraints:
In addition, the demand for synthetic
colours, such as green and blue, is projected to be driven chiefly by their use
in beverage manufacturing industry. Growth in global population is anticipated
to result in increased demand for food & beverage products, which is
further likely to drive the demand for the product over the next few years. The
growing food & beverage industry in emergent regions in light of the
increased domestic consumption is expected to be a major driving factor for the
market over the forecast period. The growing need for convenience foods due to
the growing consumer knowledge about products with an exotic and traditional
taste is foretold to further promote the growth of the market in the next few
years.
The market is predictable to exhibit
low threat of new entrants on account of wide portfolio offered and
distribution network worked by existing players, which results in high entry
barrier for the new entrants. In addition, the high swapping cost for the
buyers makes it difficult for new players to gain a significant market share,
thereby dropping the threat of new entrants.
The industry players focus on
research and development of new products to improve features such as thermal
and pH stability. These companies mostly contest on the basis of product
quality and price, as pure form of each source is derived from the same
source.
Food Color Market Geographical Segmentation:
North America took the largest
segment of the food colorants
market in 2016, followed by Europe. An
increase in demand for natural food colours and growing health concerns in
the European region is driving the market. Within Europe, the food colorant
market was primarilydominated by Germany and France with a market share of
19.5% and 17.5% respectively in 2016. Asia Pacific displays high adoption
of natureidentical products driven by bigger product properties such as uniform
colour and comparatively lower cost than natural food colours. In addition,
high adoption of product in the manufacture of alcoholic and non-alcoholic
beverages is also expected to drive the market growth.
Key Players of the Food Color Market:
Some of the key players of global food colorants market includes
CHR Hansen, BASF, Sensient Technologies, Naturex SA and Fiorio Colori
S.P.A., FMC Corp DSM, amongst others.
Make an Inquiry before buying @ https://www.researchcosmos.com/inquire/food-color-market/1715688429
About Us:
Research Cosmos is a provider of standard and
customized market research, business intelligence and consulting services
across more than 100 domains in different industries of the world. We host the
trending market reports of the world’s top-notch publishing companies, offering
services to a wide range of customers from students to fortune 500 companies
and discloses the hidden opportunities in every leading industry of the world.
Contact:
Kevin Stewart
Global Sales
Manager
Research Cosmos
www.researchcosmos.com
No comments:
Post a Comment