Food Colors Market Size, Share, Trends and Industry Statistics Report
by Susan Hill Business ConsultantThe global food colors market size is expected to reach USD
2.97 billion by 2025, according to a new report by Grand View Research, Inc.
Growing demand for colored food products owing to their aesthetic appeal and
increasing use in end user industries is expected to drive the demand for food
colors over the forecast period.
Growing demand for the product across various
industries such as beverages, bakery & confectionary, and dairy products is
likely to have a positive impact on the utilization of food colors in the
foreseeable future. The demand for food colors for the production of canned
products is also estimated to drive the industry growth.
Growing consumer demand for low-fat food is another
factors which is expected to supplement the market growth in near future The
rising adoption of processed food by consumers across the globe is estimated to
translate into the growth in demand of the product. In addition, rising demand
for alcoholic and non-alcoholic beverages is likely to drive the market growth
over the forecast period.
Rising disposable incomes and changing lifestyles
due to rapid urbanization are likely to have a positive influence on the market
over the forecast period. Ongoing product innovation, consumer preference for
high-quality products, and solidification of government regulations is likely
to propel the growth in the next few years.
The absence of any notable substitute to the product
results in negligible threat of product substitution. However, the industry is
expected to witness internal substitution with natural
food colors being increasing used as a substitute for synthetic food
colors. The market is expected to witness a degree of uncertainty due to high
degree of volatility observed in the prices of raw material.
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Further
key findings from the report suggest:
- Natural food colors are expected to reach USD 2.50 billion by 2025,
owing to growing awareness among consumers regarding the health benefits
associated with the product.
- CSDs and non-alcoholic beverages is estimated to be the fastest
growing application with a growth rate of 6.4% over the forecast period,
on the account of rising demand for juices, soft drinks, and carbonated
soft drinks in emerging economies.
- The demand for the product in Asia Pacific is expected to reach a
value of USD 868.0 million by 2025 in the wake of growing food and
beverage industry in the region.
- The companies have adopted different approach to compete with each
other. For example, Allied Bioitech Corporation have adopted a
mono-product approach. It is global supplier for carotenoids and
manufactures & distributes only on product.
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full research report on global food colors market:
www.grandviewresearch.com/industry-analysis/food-colorants-market
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Created on Dec 10th 2019 08:39. Viewed 352 times.