The natural food colors market is projected to reach US$ 3.17 billion by 2028 from US$ 2.10 billion in 2022. It is expected to grow at a CAGR of 7.1% during 2022–2028.
Over the past few years, the preference for healthy living increased dramatically. People do not want to compromise their health, which leads to increasing demand for natural food products to provide better health benefits to the human body. Natural food colors are nontoxic or less toxic in nature and have fewer side effects. People are increasingly demanding natural food colors as it is healthier and safer.
Moreover, the number of health-conscious young crowd is increasing. They are demanding organic foods mainly due to the perception that they are healthier and safer than conventional foods. Organic food is produced without synthetic fertilizers, pesticides, growth hormones, antibiotics, and genetically modified organisms (GMOs). In organic food, natural food colors are highly used to make them more appealing and appetizing. This factor is expected to create additional demand for natural food colors over the forecast period. Synthetic food colors are manufactured by chemical reactions and have various side effects, whereas natural food colors are safer to consume. Thus, the factors mentioned above are driving the natural food colors market.
Koninklijke DSM N.V., Sensient Technologies, Archer Daniels Midland Company, Döhler Group, BASF SE, Naturex S.A, Aromata Group, Givaudan, Dupont, Oterra A/S, and Mane KANCOR are the key players operating in the global natural food colors market.
The natural food colors market is a part of the food & beverages industry. The economic slowdown caused by the COVID-19 outbreak declined the industry’s growth, restraining the demand for natural food colors. However, businesses are gaining ground as previously imposed limitations have been eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries eased the situation, leading to the rise in business activities worldwide. The COVID-19 pandemic also collaterally resulted in the growth of several segments of the food & beverages industry post recovery from the production disruptions. The COVID-19 pandemic led people to stay at home for a long time, under quarantine or otherwise, which increased the focus on RTE and RTC products. The increase in demand for RTE and RTC products led to a surge in the natural food colors market growth.
Based on type, the global natural food colors market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. In terms of form, the market is segmented into liquid & gel and powder. Based on application, the global natural food colors market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, sauces; dressings; and condiments, RTC and RTE products, meat; poultry; and seafood, and others.
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