The global food colors market revenue is expected to expand at a significant CAGR over the forecast period. Food colors are color additives used in food or drinks to make it more appealing and colorful for consumers. These can be divided into natural and artificial colors. Natural colors are derived from vegetables, minerals, animals, fruits, insects, seeds, etc. Artificial food colors, also known as synthetic colors, are commonly used in pharmaceuticals and food industry. Currently, artificial food coloring needs to go through different regulatory bodies such as The Food and Drug Administration (FDA), Food Safety and Standards Authority of India (FSSAI) to get certificate of safety standards before usage.
Major factors driving growth of the global food colors market are increasing number of food processing companies and rising demand for processed food & beverages due to rising population. However, stringent government rules regulating usage of artificial coloring in food & beverages may hamper growth of the target market in the near future.
The global food colors market report has been segmented on the basis of product type, form, application, and region. On the basis of product type, the market is segmented into natural, nature identical, and synthetic. On the basis of form, the market is segmented into liquid, gel, paste, and powdered. On the basis of application, the market is segmented into bakery and confectionery products, beverages, meat products, dairy products, and others.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America currently dominates the global market in terms of revenue, owing to presence of large number of processed food companies in this region. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to changing lifestyle and rising disposable income among individuals in the region. The market in Latin America expected to register average growth over the forecast period.
Key players operating in the global food colors market include Archer-Daniels-Midland Company, Chr. Hansen Holding A/S, Sensient Technologies Corporation, Koninklijke DSM N.V., FMC Corporation, Naturex S.A., D.D. Williamson & Co., Inc., Döhler GmbH, Kalsec Inc., and Fiorio Colori S.p.A.