Global food colorants market is expected to reach
USD 2.46 billion by 2020, according to a new study by Grand View Research, Inc.
Food colorants demand is expected to grow with increasing applications in
confectionery and bakery items, medicines and pharmaceutical drugs, beverages,
cosmetics and toiletries, meat, sea food and pet food. Rising consumer
awareness for natural ingredients is expected to drive natural colorant demand
over the next six years.
Dairy foods were the largest
application market for food colorants, with demand estimated at 19,154.5 tons
in 2013. Food colorants are added in foodstuffs to retain color lost during
processing which adds appeal to the product. Food colorants are also
extensively used in beverages, particularly CSDs & non alcoholic kinds, in
order to make the product visually more attractive to the younger population.
Global food colorants market
volume by product 2012-2020 (Tons)
Browse full research report on
Food
Colorants Market
Further key findings from
the report suggest:
- Global food
colorants demand was 51,510.0 tons in 2013 and is expected to reach
67,724.0 tons by 2020 growing at a CAGR of 4.0% from 2014 to 2020.
- Synthetic
food colorants were the largest product segment, with demand estimated at
17,907.7 tons in 2013; owing to increased consumption of processed foods
which use synthetic colors in emerging markets
- Europe was
the largest regional market for food colorants, with revenue exceeding USD
590 million in 2013. Increased consumer preference towards functional
foods and beverages, particularly with natural or organic colorants is a
key factor responsible for the regional market growth.
- Dairy and non
dairy food applications are expected to be the fastest growing application
markets, at an estimated CAGR of 4.1% from 2014 to 2020. Increasing demand
for foods containing natural products is expected to drive demand for the
application.
- Key Companies
in the market include CHR. Hansen, Danisco, BASF, DSM, and Sensient
Technologies Corporation. The global market is significantly consolidated
with somewhat oligopolistic characteristics. While the market is expected
to continue moving towards consolidation, R&D spending is expected to
increase as participants focus on naturally derived food colorants with
nutraceutical benefits.
For
more information: http://www.grandviewresearch.com
No comments:
Post a Comment