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.
View
summary of this report @
http://www.grandviewresearch.com/industry-analysis/food-colorants-market
http://www.grandviewresearch.com/industry-analysis/food-colorants-market
Further key findings from the study
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.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
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