The
published research report by Transparency Market Research observes
that the global food colors market is being led by large
multinationals, who have similar shares. Thus, there aren’t
specific market leaders in the global market. "This has
increased the scope for new entrants to be a part of the overall
market," states the lead author of this research report. Some of
the significant players in the global market are BASF, DSM, Sensient
Technologies, and DuPont. According to the opportunity in the global
food colors market is expected to be worth US$2.1 bn by 2018, as the
market expands at a CAGR of 4.3% between 2013 and 2018.
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North
America Remains the Prime Consumer of Food Colors
In
terms of applications, food colors are used for food items,
carbonated soft drinks, and alcoholic beverages. Of these, food
colors are largely used in making various types of food items that
maybe both fresh or packaged. The report anticipates that the food
segment will hold a share of 64.3% in the overall market by the end
of 2018. Geographically, North America is projected to lead the
global food colors market with a share of 27.0% by 2018. The adoption
of natural food colors, as opposed to synthetic food colors, is
expected to boost this regional market in the coming years.
Awareness
about Benefits of Natural Colors Boosts Global Market
The
rising awareness about fitness has played a major role in the rise of
the global food colors market. Over the past few years, the demand
for natural food colors has gained momentum due to the growing health
concerns over consumption of synthetic food colors. The technological
changes incorporated to make natural food colors affordable are also
driving the overall market. Furthermore, effects of synthetic food
colors such as environmental pollution and erosions have led
countries such as Japan to ban them. Thus, the demand for natural
food colors is expected to fuel the growth of the global market.
An
increasing number of applications of food colors is yet another
market driver identified by TMR research analysts. Food colors are
used in several industries such as meat and savories, confectionery,
pharmaceuticals, dairy and ice-cream, bakery, medicines, beverages,
sea food and pet food, and cosmetic and toiletries. Increasing
importance towards the aesthetic aspect of food items to make them
more attractive has also led to an increased uptake of food colors.
The increasing inclination towards adding decorative or artistic
value to food has been a key contributor to the rising revenues of
the global market.
Negative
Aspects of Using Synthetic Colors Hinders Market
The
positive outlook of the global
food colors market is being tugged in the opposite direction due
to the plummeting demand for synthetic food colors. Europe has banned
the production, consumption, and imports of synthetic food colors to
prevent any health hazards due to them. Furthermore, the difficult
extraction process of natural colors is also restraining the global
market as it makes the natural colors costlier than synthetic colors.
Thus, consumers find themselves opting for natural substances that
are expensive in nature and less vibrant. Owing to these reasons, the
global market is anticipated to witness a few hurdles in the coming
few years.
The
review mentioned above is based Transparency Market Research’s
research report, titled “Food Colors Market - Global Industry Size,
Market Share, Trends, Analysis, And Forecasts 2012 - 2018.”
Food
Colorants Market by Application
- Food
- CSDS and Non-alcoholic Beverages
- Alcoholic Beverages
Food
Colorants Market by Types
Synthetic
Food Colorants
- Red 40/Allura Red
- Yellow No. 6
- Others
Natural
Food Colorants
- Beta Carotene
- Astaxanthin
- Anthocynins
- Annatto
- others
Natural
Identical Colorants Types
- Others Mixed Carotenes
- Lutein
- Lycopene
- Canthaxanthin
- Curcumin
- Titanium Dioxide
- Caramel
- Others
Food
Colorants Market by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
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