Natural Food Colors Market Size, Share, Growth, and Industry Analysis, By Type (Carotenoid, Curcumin, Anthocyanin, Paprika extract, Spirulina extract, Chlorophyll, and Carmine), By Application (Dairy Food Products, Beverages, Packaged Food/Frozen Products, Confectionery and Bakery Products, and Others), and Regional Forecast to 2031

Updated On: 22 April 2024

Natural Food Colors Market Report Overview

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The global Natural Food Colors Market size was USD 2042.3 million in 2022. As per our research, the market is expected to reach USD 3025.2 million by 2028, exhibiting a CAGR of 5.7% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with Natural Food Colors Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Natural fragrances and Natural Food Colors are more expensive than their synthetic alternatives produced by the industry because of their processing expenses and resource constraints. The advantages of these items include consistent supply, steady pricing, and lower production costs. Dealers used to enter into multi-year contracts with other dealers in the previous system.

Demand for products other than typical meat, fish, and dairy products has grown recently due to the expanding vegan population and the surge in demand among flexitarians for meat substitutes. These customers are gradually altering their diets to incorporate more plant-based foods, primarily imitation meat. A recent study by Veganz Study, a well-known manufacturer and retailer of vegan goods in Europe, found that the number of vegans on that continent had doubled in the last four years. These factors are anticipated to increase the Natural Food Colors market share and revenue systems.

COVID-19 Impact - Pandemic Affected the Market Growth Owing to stoppage in Supply Chain

Like any other market, the cannabis industry is negatively impacted by COVID-19. Several cannabis-related businesses started relying extensively on social media and e-commerce platforms to reach customers during the year. On March 30, 2020, the Alberta government categorized cannabis retailers, producers, processors, distributors, and warehouses as essential services. The outbreak also caused individuals to spend more time at home, which increased the popularity of Natural Food Colors products as a form of entertainment and a method to decompress. As a result, as sales of products containing natural food colors rise, the Natural Food Colors market growth is anticipated to expand.

Latest Trends

"Augmented Product to Replace Common Flavoring Substances"

Many vegan ingredients are employed in these cuisines as flavors and scents as a result of their tremendous appeal in Europe and the US. Customers also choose vegan and plant-based foods over conventional ones because of increased concerns and awareness about animal cruelty involved in food manufacturing and processing. As a result, manufacturers are utilizing Natural Food Colors solutions in an effort to create food products with plain labeling and no additional labels.

Segmentation

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●    By Type Analysis

According to type, the market can be segmented into Carotenoid, Curcumin, Anthocyanin, Paprika extract, Spirulina extract, Chlorophyll, and Carmine amongst which Carotenoid is the leading segment.

●    By Application Analysis

Based on application, the market can be divided into Dairy Food Products, Beverages, Packaged Food/Frozen Products, Confectionery and Bakery Products, and Others amongst which Dairy Food Products is the leading segment.

Driving Factors

"Consumer Knowledge to Propel Market Growth"

The growth of this industry is mostly due to the rise in demand for ready-to-eat meals, convenience foods, and foods for health and wellbeing. Additional factors driving the growth of the Natural Food Colors market include an increase in the demand for air fresheners for homes and cars, the acceptance of aromatherapy, and expansion in the pharmaceutical and cosmetics sectors. It is projected that the digitalization of the retail industry would present a sizable opportunity for the market for natural food colors to grow.

"Advancements in Technologies to Boost Market Growth"

It is said that Natural Food Colors change a solute's properties by imparting a delicious aroma. The primary goal of using these ingredients is to change a food ingredient's Natural Food Colors in order to improve its overall aesthetic value. The primary goal of flavors as food additives is to improve the flavor and aroma of food ingredients used in things like beverages, baked goods, snacks, dairy products, soups, sauces, and other confectionery products. The market has a lot of room to expand due to the development in cutting-edge technology, the inclusion of new Natural Food Colors, and strategic alliances by the big businesses.

Restraining Factors

"Competition Between Market Players to Restrain the Market Growth"

The Natural Food Colors market industry is expected to suffer from government rules that impose strict limitations on the use of synthetic Natural Food Colors, an increase in sensitivity to chemicals, preservatives, and artificial flavors, and pricing anomalies in many products.

Regional Insights

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"North America to Dominate the Market Growth Owing huge food "

In North America, the natural food colors market is well-established and fairly stable. As it comes out of the recession, the market has a great potential for transformed growth. U.S. due to its massive consumption of convenience and processed goods is growing abundantly. Due to the nation's rapidly developing food and beverage industries, foreign businesses are expanding their presence here in order to meet rising customer demand for the most cutting-edge nutritional Natural Food Colors.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• GNT (Netherlands)
• Roha Dyechem (India)
• D.D. Williamson (U.S.)
• Kalsec (U.S.)
• Chr. Hansen (Denmark)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.