According to Goldstein Research, “Stringent government regulations and growing health conscious consumer base is driving the growth of global natural food colors market.” Natural food colors are best substitute which provides health benefits with appealing colors. Consumer's concern about synthetic food colorings in their food has shifted major food and beverage manufacturers to adopt natural food coloring for their products.
The global natural food colors market is segmented based on products and by applications. Product segment is further bifurcated into curcumin, carotenoids, spirulina, paprika extract, anthocyanin and copper chlorophyllin. Carotenoids are the largest selling natural food color globally which provide various shades of yellow and orange colors. Spirulina is anticipated to witness huge demand in coming years as it provides blue color which is hard to find as a natural coloring agent for foods.
Based on applications, food and beverages accounted for the largest market share of global natural food colors market. Beverage segment accounted for 40.0% market share of natural food colors market and are expected to reach over 50.0% during the forecast period.
Asia-Pacific is the fastest growing region for natural food colors market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific natural food colors market valued USD 0.316 billion in 2016 and is estimated to reach USD 0.536 billion by 2024. Widening media exposure, consumer outrage and improving regulatory reforms all contributed to the rapid uptake of natural food additives across the region.
Government's Stringent Regulation and Consumer Awareness: Major Breakthrough
Government regulations to minimize the usage of synthetic food colorings played an important role in the upsurge of natural food colors market. For instance, in 2015 confectionery giants Hershey and Nestle USA both announced the shift from synthetic colors to natural food colorings and flavours. In 2016, Mars announced that it will phase out all artificial colors from its entire global food and beverage portfolio, after increasing pressure to remove artificial colors and rising demand for more natural ingredients in their products.
“Global Natural Food Colors Market Outlook 2024” contains detailed overview of the global natural food colors market in terms of market segmentation by product type and by applications.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Natural Food Colors Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as ITC color Naturex, Royal DSM, CHR Hansen, FMC corp., Doehler, Allied Biotech Corporation etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global natural food colors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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