Natural food colors market by revenue is projected to
reach USD 1.8 billion by 2022
The global
market for natural food colors is witnessing growth on the back of rising
demand from various end user applications such as confectionery, pet food and
processed food among others. High demand for clean label and natural
ingredients products are the other factors contributing towards the market
growth.
Browse the Full Report at (Natural Food Colors Market
- Growth, Share, Opportunities & Competitive Analysis, 2015 - 2022): http://www.credenceresearch.com/report/natural-food-colors-market
These natural
colors are difficult to work with as they are extracted from natural sources
and have shorter shelf life. Besides high cost, natural colors have less
stability than there synthetic counterparts. Ban in trading of synthetic colors
made products and manufacturing in selected international markets,
encouragement for using natural colors in novel products such as handmade
paper, infant toys among others. In addition, development of different
techniques and process to develop natural food colors such as fermentation,
biotech process among others provide huge market opportunities.
By
application, food segment accounted for more than 50% share of the pie in 2014
and projected to maintain its dominance over next six years. Pet food segment
is projected to witness the fastest growth rate during the forecast period.
Natural colors are also extensively used in beverages to enhance the overall
appearance of the product and to attract the customers.
In 2014, by
type, carotenoids accounted for 32% share of the pie and projected to maintain
their dominance over the next six years. Spirulina extract which give blue
color to products and chlorophyll which provides green color are projected to
be the fastest growing markets. These colors are widely uses in various end
users industries such as ice creams, yogurt, and candies among others. Curcumin
and paprika extracts are also projected to witness moderate growth rate.
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Europe and
North America together accounted for more than half chunk of the market pie and
projected to maintain their dominance in future. In North America, the U.S. is
the largest market projected to grow at a CAGR of 7.4% from 2015 to 2022.
Europe is the market leader and projected to maintain its dominance over the
next six years. Western Europe is the major contributors towards this growth
but in future growth is projected to be highest from the Eastern European
region. Asia Pacific region is projected to grow at the fastest growth rate
over the next six years. While the usage of natural food colors in RoW
countries will remain moderate.
Chr. Hansen
A/S, Sensient Technologies Corporation, Naturex S.A, Kalsec, and Archer Daniels
Midland Co are some of the major players in this market.
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