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Food Colors Market to Witness Increasing Growth $3,210 Million at 9.8% by 2023 | Allied Market Research

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Food Colors Market to Witness Increasing Growth $3,210 Million at 9.8% by 2023 | Allied Market Research

September 01
17:15 2019
Food Colors Market to Witness Increasing Growth $3,210 Million at 9.8% by 2023  | Allied Market Research

Food Colors Market
The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global food color market to elucidate the prevailing opportunities and tap the investment pockets.

Food colors market was valued at $1,751 million in 2016, and is projected to reach at $3,210 million by 2023, registering a CAGR of 9.8% from 2017 to 2023.

Ingredients used to offer the required appearance to any food item or beverage are termed as food colors. These are added to carbonated drinks, ready-to-eat (RTE) products, frozen food, alcoholic beverages, processed foods, juices, and sauces. Food colors are used in commercial food items and domestic cooking, and are available in various forms such as liquid, liquid gel, gel paste, and powder. The market for food colors comprises natural and artificial colors.

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The Global Food Color Market is driven by rise in the food & beverages industry in emerging economies such as, India, Brazil, UAE, Saudi Arabia, and Africa. Moreover, the health benefits offered by few natural colorants boost the market growth. In addition, the ever-growing technological advancements and easy availability of raw materials from plants and animals support the growth. However, the market growth for food color is restricted by the ban on the usage of artificial colorants. R&D activities pertaining to new raw material sources offer food colorant manufacturers numerous growth opportunity.

In 2016, the natural colors segment accounted for the highest share, and is expected to maintain its dominance during the forecast period, owing to their ease of availability from flora and fauna.

North America and Europe collectively contributed about 60% share of the global market in 2016. This is mainly because of the growing meat industry in the North American region. The region is believed to produce meat and poultry valuing approximately $119 billion in 2012-2013. Similarly, the increased production to meet up the growing demand for meat products in the European region drives the food color market in the region. The demand for food colors in both the regions is also due to the presence of major beverage companies such as PepsiCo, A.G.Barr p.l.c., Cadbury Schweppes, and Coco-Cola.

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Key Findings of the Food Colors Market:

  • Europe was the leading region in the global food colors market in 2016, followed by North America
  • The natural color segment generated the highest revenue in 2016, and is projected to grow at a CAGR of 9.8% during the forecast period
  • The meat product segment dominated the global market accounting for approximately one-fifths share
  • The Asia-Pacific food colors market is anticipated to register the highest CAGR of 16.6%, followed by LAMEA.
  • North America accounted for approximately one-third share in the global market, and is expected to grow at a CAGR of 6.9%.

The key players operating in the global food colors market are Archer Daniels Midland Company, Kalsec, Inc., Chr. Hansen A/S, Fiorio Colori SPA, FMC Corporation, Dohler Group, Sensient Technologies Corporation, D.D. Williamson & Co. Inc. (DDW), Koninklijke DSM N.V., and Naturex S.A.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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