Wilmington, Delaware, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Global Natural Food Colors Market By Color Type (Caramel, Carotenoids, Anthocyanins, Curcumin, Carmine, Annatto, Chlorophyll And Spirulina), By Source (Plant, Animal), By Form (Liquid, Powder), By Solubility (Water, Dye), By Application (Processed Food Products, Beverages): Global Opportunity Analysis And Industry Forecast, 2022-2031". The report indicates that the global natural food colors industry was valued at $1.2 billion in 2021 and is estimated to garner $3.7 billion by 2031 with a notable CAGR of 11.3% between 2022 to 2031.
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Factors influencing the growth of the global natural food colors market:
The global natural food colors market is expanding rapidly due to a rise in adoption of plant-derived food products across consumers in Asia-Pacific and an increase in demand for clean-label food products. Moreover, the market is hampered due to challenges faced by food manufacturers with respect to the process, quality, applications, and cost of natural ingredients. On the contrary, a surge in the adoption of plant-based food products across the consumers in past years will provide lucrative opportunities in the future.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.2 billion |
| Market Size in 2031 | $3.7 billion |
| CAGR | 11.30 % |
| No. of Pages in Report | 483 |
| Segments Covered | Color Type, Source, Form, Solubility, Application, And Region |
| Drivers | Surge in demand for natural food ingredients Rise in demand for clean-label food colors ASEAN to exhibit potential growth opportunities |
| Restraints | Food manufacturers are facing many challenges with respect to the cost, process, applications, and quality of natural ingredients |
| Opportunities | Increase in adoption of plant-based food products among consumers' Regulatory support |
The carotenoids segment to retain its dominance during the forecast period
On the basis of color type, the carotenoids segment held the highest market share in 2021 contributing to more than two-fifths of the total market revenue and is expected to rule the roost throughout the forecast timeframe. In the food industry, natural carotenoids are a common choice for imparting a spectrum of colors, ranging from yellow and orange to red, in various food and beverage products. They find significant popularity in items like sauces, soups, and processed meats, playing a pivotal role in elevating the product's visual appeal and color. Over the past few years, there has been a notable surge in the demand for natural food coloring agents, with natural carotenoids being of particular interest. Moreover, the curcumin segment would cite the fastest CAGR of 14.4% during the forecast period. Curcumin is a widely used food coloring agent appreciated for its vivid yellow shade, resembling that of artificial yellow food dyes. Notably, unlike synthetic food colorants, curcumin is a natural ingredient and is generally recognized as safe for consumption.
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The powder segment grabbed the lion’s share in 2021
In terms of form, the powder segment generated the largest market share in 2021 contributing to more than three-fifths of the total market revenue and is expected to dominate the market in terms of revenue from 2022 to 2031. The same segment would cite the fastest CAGR of 10.9% throughout the forecast timeframe. Powdered natural food colors provide numerous benefits compared to liquid food colors. These advantages include extended shelf life, simplified storage and handling, and enhanced precision in measurement and dosing.
The plant segment garnered the major share in 2021
By source, the plant segment garnered the major share in 2021 contributing to nearly three-fourths of the overall market revenue and will dominate the market by 2031. The same segment is expected to display a notable CAGR of 11.5% during the forecast period. Plant-based natural food colors are gaining significant popularity in the food industry, primarily driven by the increasing demand for clean-label products and the growing adoption of vegan and vegetarian diets. As consumer preferences shift towards plant-based and vegan food options, there is a noticeable transition from animal-based natural food colors to plant-based alternatives. Manufacturers are actively exploring alternative plant-based sources to replace animal-derived colors, aligning with the heightened demand for vegan-friendly food products and ingredients.
Europe held the largest market share in 2021
The regional analysis in the report indicates that the market across the Europe region was largest in 2021, contributing to around two-fifths of the overall market revenue and is estimated to lead the trail from 2022 to 2031. The growth is attributed to high disposable income and the growing demand for natural food colors across European consumers. The ASEAN region, on the other hand, would showcase a notable CAGR of 12.0% during the forecast period. The ASEAN market is experiencing growth due to a growing awareness about natural food colors and surging interest over natural processed food and beverages across millennials.
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Top market players:
- KANEGRADE LIMITED
- VIVIFY
- THE WATKIN COMPANY
- BYRNES AND KIEFER COMPANY
- ORGINOR NATURAL SA
- CALIFORNIA NATURAL COLOR
- KALSEC, INC.
- BIOCONCOLORS
- HAWKINS WATTS LIMITED
- ROBERTET GROUP
- V. MANE FILS SAS
- OTERRA A/S
- GNT INTERNATIONAL B.V.
- SAN-EI GEN F.F.I., INC.
- KONINKLIJKE DSM N.V.
- DOHLER GMBH
- ARCHER-DANIELS-MIDLAND COMPANY
- GULF FLAVOURS AND FRAGRANCES
- NACTAROME S.P.A.
- TAIYO KAGAKU CO., LTD.
- T. HASEGAWA CO., LTD.
- SENSIENT TECHNOLOGIES CORPORATION
- INTERNATIONAL FLAVORS AND FRAGRANCES INC.
- GIVAUDAN SA
The report offers an in-depth analysis of the prominent players in the global Natural Food Colors market. These companies have implemented various strategies, including acquisitions, partnerships, and the introduction of new products, to expand their market share and retain leading positions in the industry. The report is a valuable resource for shedding light on product portfolios, operational segments, business performance, and strategic initiatives of these market players, effectively illustrating the competitive landscape.
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