Food Colors Market Size & Growth Analysis (2022 - 2030)

The global food colors market size was worth USD 5.25 billion in 2022 and is expected to reach USD 77.45 billion by 2030 with a CAGR of 5.9% during 2023 - 2030. Growing demand for natural food colors have significantly fueled the market for food colors due to the increasing consumer awareness for clean-label products and additional health benefits of certain natural food colors. 

Food colors are used to increase the color and taste of prepared food. Food colors are naturally extracted with zero level toxicants as they are eco-friendly. 

Food colors are widely used across various applications like food and beverages, drug industries, etc. They offer quality food coloring, additives that meet the needs of disclosing colors when added to edibles. 

COVID-19 Impact on Food Colors Market

The recent outbreak of novel corona virus (COVID-19) was originated in Wuhan, China in December 2018. The virus has spread to all parts of the world affecting millions of people resulting in death. Also, many businesses sectors have seen a downfall during the pandemic period. Nations have imposed a lockdown to prevent the virus spread. During the lockdown, the food colors market has experienced a negative impact due to the absence of labor, and researchers have also stopped focusing on the natural colors. Once, the lockdown is lifted, the companies have resumed their work and started producing food colors. During the pandemic period, natural food prices are said to surge due to economic instability. During the COVID-19 crisis, the natural food products demand is likely to reduce. 

Market Drivers

Growing demand for organic food and enlarging the food and beverages sector, increasing knowledge regarding the health advantages concerned with natural colors are driving the food colors market. The demand for clean label products is rising, and continuous researchers focus mainly on searching natural food colors and techniques enhancements to upgrade the shell-life and potentiality of natural colors boost the market growth during the forecast period. 

The increasing adoption of the product in producing alcoholic and non-alcoholic beverages fuels the food colors market growth during the forecast period. 

Market Restrains

Factors like the absence of knowledge in nascent countries, and sluggish adoption of food colors in developing nations impede the food colors market growth. Also, the cost of extracting natural products through the biotech process hampers the food colors market growth.

FOOD COLORS MARKET REPORT COVERAGE

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Market Segmentation Analysis

Food Colors Market - By Type

• Natural
  • Carmine
  • Anthocyanins
  • Caramel
  • Annatto
  • Carotenoids
  • Chlorophyll
  • Spirulina
  • Others (betalains, canthaxanthin, anthraquinones, curcumin, turmeric, and gardenia)
• Synthetic
  • Blue
  • Red
  • Yellow
  • Green
  • Amaranth
  • Carmoisine
  • Others (black PN, chocolate brown, and blue IV.
• Nature identical

Food Colors Market - By Application

• Food
  • Processed food
  • Bakery & confectionery products
  • Meat, poultry, and seafood
  • Oils & fats
  • Dairy products
  • Others (breakfast cereals, fruit & vegetable extract, soups, condiments & spices, dressings, and sauces)
• Beverages
  • Juice & juice concentrates
  • Functional drinks
  • Carbonated soft drinks
  • Alcoholic drinks

Food Colors Market - By Form

• Liquid
• Gel
• Powder

Food Colors Market - By Solubility

• Dye
• Lake

Regional Analysis

The European food colors are witnessed to dominate the market with the largest share throughout the forecast period. The growth in the region depends on factors like increasing advancements in technology in food industries to obtain sustainable solutions for augmenting the market growth. In Europe, 39 colors are approved as color additives for use in foods boost the market growth. 

North America is expected to witness substantial growth in the food colors market throughout the historical period. The growth in the region owes to strong consumption of wrapped food products, increasing urbanization, and westernization. The rising population resulting in various eatables likes ready-to-eat snacks resulting in high demand for food colors. 

Asia-Pacific region is expected to have speedy growth during the historical period in the food colors market. The factors that drive the region are the robust increase in the food and beverages industry, growing buyers prominence, and strict government regulations for limited use of synthetic colors. The above-mentioned factors help in boosting the food colors market. In countries like Australia and New Zealand, the food colors market growth owes to increasing population and high production levels. 

The Indian food colors market owes to small-scale food industries, snacks, and sweets, and beverages. The Food Safety and Standard Authority of India regulates the food colors market. The Indian market owes to the easy availability of raw materials including fruits and vegetables. 

The Japanese food colors market is expected to have significant growth during the period.

Latin America is projected to hold considerable growth in the food colors market. Brazil is dominating the market across the period. Brazil focuses on capitalizing on biotechnology development and its application of natural colors.

The Middle East & African food colors market is at its nascent stage. The market is anticipated to grow high over the upcoming years. UAE, Israel, Africa, and the rest of MEA are contributing a major share in the food colors market.

Key Players in Food Colors Market

ADM (US), Sensient Technologies Corporation (US), International Flavors & Fragrances Inc. (US), Döhler Group (Germany), DSM (Netherlands), DDW (US), Florio Colori (Italy), Lycored (Israel), Naturex (France), and Kalsec Inc. (US). 

Recent Market Developments

• On April 15, 2022, ADM has added few offerings to its range of natural colors for various food and beverages.
• On February 12, 2018, Sensient Technologies Corporation acquired GlobeNatural. The acquisition is to expand its business and manufacturing raw materials for natural coloring. 
• On October 21, 2022, Lycored introduced a new tool HueFinder for enabling the manufacturers to match the exact color of food and beverages.
• On March 03, 2022, Naturex introduced red color for red substitutes. The company has expanded its portfolio in Europe to include red color for meat products.