Market Overview

Food colors are considered as food additives or ingredients which are used commercially in food and drinks which makes make the product more attractive, appetizing, appealing, and informative allowing consumers to identify products on sight. The association of colors with different flavors determines the consumer perception of flavor from colors will mark the growth of this market. According to FDA, color additive is any dye, pigment or substance which added or applied to a food, drug or cosmetic, or to the human body, is capable (alone or through reactions with other substances) of imparting color.

Owing to growing consumer awareness on food colors in the recent years has surged the industrial demand of food colors. The growth has been driven by the increased acceptance of natural food Colors amongst the consumers. Market Research Future, a firm which specializes in market reports related to the Foods, Beverages & Nutrition sector among others, recently forecasted in its report “Global Food Colors Market Research Report- Forecast to 2023” that the market will demonstrate an exceptional CAGR % while achieving million-dollar growth readily in the forecast period.

The increasing consumer awareness on health and wellness and their growing interest to adopt natural colors instead of synthetic colors is fueling the demand of natural food colors. This is attributed to increasing incidence of diseases and rising health concern of consumers both in developed and developing economies over the past few years. Consumers seek alternatives to synthetic colors and their increasing inclination towards natural flavors such as soy sauce, lemon, tomato, and other natural ingredients will drive the demand of natural food colors over synthetic food colors. The “new healthy” concept is a consumer journey which involves “strategic choices” consumers make while consuming food and beverages. The consumers evaluate the nutritional profile of the products through labels and ingredients of the product before making buying decision. Food colors also determine the marketing strategies of manufacturers as consumers are sensitive to certain food colors which defines their food choices. So, color is used as a vital ingredient by the food manufacturers to decorate and design the products properly according to the consumer demand.

Competitive Analysis

The key market players profiled in Food Colors are Chr. Hansen S/A (Denmark), Archer Daniels Midland Company (U.S.), Sensient Technologies (U.S.), D.D. Williamson & Co. Inc. (DDW) (U.S.), Kalsec Inc. (U.S.), Doehler Group (Germany), and FMC Corporation (U.S.) among many

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Downstream Analysis

Food Colors market offers huge growth opportunities for the industrial players. The market is fragmented and marked by the presence of several large and small-scale vendors. Market players are pouring in million dollars for product innovation. Innovative premium products and launch of organic/natural colors remain the central focus of the companies. Most of the industrial players are diversifying and augmenting their capacities based on strategic product positioning and target audience.

Industry players in the Food Colors segment are aware of the consumer product preferences and have been responding to it through various dimensions. The companies are taking initiatives to enhance & strengthen their brand name of the company by participating various trade shows and demonstrating their new product offerings to create an awareness among the consumers.

With manufacturers aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. Industrial players are relying on strategic new product launch and acquisition to capture the growth opportunity. The key market players profiled in Food Colors are Chr. Hansen S/A (Denmark), Archer Daniels Midland Company (U.S.), Sensient Technologies (U.S.), D.D. Williamson & Co. Inc. (DDW) (U.S.), Kalsec Inc. (U.S.), Doehler Group (Germany), and FMC Corporation (U.S.) among many others.

Regional Analysis

The global Food Colors market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Food Colors market is highly dominated by Europe followed by North America. North America is one of the attractive region among the food color manufacturers over the past few years. The consumption of food color is high in the US. US consumers are inclined to adopt natural food color for its various properties. US is the major country in North America for the massive consumption of food color. Asia Pacific will be fastest growing market during the review period. NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details