Synthetic Food Colors Market will value to USD 1058.96 million by 2030 & it will grow at a CAGR of 7.7% till 2030 : GreyViews

Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Synthetic Food Colors market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the synthetic food colors market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the form, solubility, application and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global synthetic food colors market are Vinayak Ingredients (India) Pvt. Ltd, Kolorjet Chemicals Pvt Ltd, Rung International, Denim Colorchem (P) Limited, Nestle SA, ALLIANCE ORGANICS LLP, Cargill Inc, BASF SE, Arun Color Chem Private Limited, JAMSONS INDUSTRIES, REXZA COLOR and Chemicals Pvt Ltd, San-Ei Gen F.F.I, Inc among others. To achieve a substantial market, share in the worldwide synthetic food colors market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

There is a noticeable rise in demand for natural food color everywhere. The health benefits associated with its use are one of the key factors boosting their demand. Strict rules put in place by federal organisations of various countries have restricted the use of synthetic colorants in food and beverage products. In the US, the FDA is a key regulatory body for food additives. It regulates the use of artificial color in alcoholic beverages and food. These regulations have decreased the use and demand for food coloring. As consumers grow more health aware, the necessity for artificial food coloring is decreasing. Due of the harm that these colors pose to human health, food manufacturers are always looking for creative ways to obtain color from alternative natural sources. The different regulatory standards and labelling regulations for the use of natural and organic color in various countries are another factor limiting the market expansion for food color. Untapped sources of raw materials that adhere to regulations, such as beta-carotene from algae and cabbage, offer opportunities for the market development of food color. Intercropping of existing crops with coloring crops provides significant development opportunities for the market's leading players, with an emphasis on supplying new sources of food color.

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Scope of Synthetic Food Colors Market Report

Segmentation Analysis

The liquid segment is expected to be the fastest-growing segment in 2022. 

The Form segment includes liquid, powder, gel, and emulsion. The liquid segment is expected to witness the highest growth rate during the forecast period. The rising demand for food coloring, which is required for meals that require a lighter, more pastel color, is to blame for this industry's growth. Liquid formed food colors are more in demand from the food and beverage industry internationally because they improve the viscosity, mouthfeel, product stability, texture, shelf life, pleasant flavour, and better visual aspect of the food product as compared to other formed food colors. Additionally, liquid food colors contain more water than gel ones do. As a result, they are widely used in the creation of frosting, cakes, pastries, ice cream, syrup, and hard candies and lollipops.

Water is expected to be the fastest-growing segment in 2022. 

The Solubility segment includes Water, Dye, and Oil. The water segment is expected to witness the highest growth rate during the forecast period. Water-soluble food colors are widely sought after by the food and beverage industries because of their attributes, including their highly concentrated color, good quality-price ratio, and strong water stability.

Processed food is expected to be the fastest-growing segment in 2022. 

The Application segment includes Processed food products, Beverages, Non-Alcoholic beverages, and Alcoholic beverages. The processed food segment is expected to witness the highest growth rate during the forecast period. Due to the growing processed food industry's requirement to restore color lost during food processing, improve natural color, minimise variance, and color food, food color is in high demand.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analysed for synthetic food colors include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

• The Asia Pacific region witnessed a major share.  A significant portion was seen in the Asia Pacific area. The market for artificial food color is expected to grow over the next years as a result of the region's sizable population, growing per capita spending, and increased demand for packaged food and beverage products.

Country Analysis

• Germany

Germany's synthetic food colors market size was valued at USD 30.71 million in 2022 and is expected to reach USD 93.94 million by 2030, at a CAGR of 7.5% from 2023 to 2030. Fruits and vegetables are two easily accessible raw materials that dominate the German market for food colorings. Growing concerns about food safety in Germany and the rest of Europe are pressuring manufacturing to embrace clean labelling.

• China

China's synthetic food colors market size was valued at USD 34.80 million in 2022 and is expected to reach USD 122.19 million by 2030, at a CAGR of 6.7% from 2023 to 2030.
The Chinese food colorant business, which is dominated by synthetic color with a burgeoning natural color segment, has a number of domestic enterprises. Processed meat and seafood is a prominent application area for food colorants in the country due to its higher consumption rate.

• India

India's synthetic food colors market size was valued at USD 26.61 million in 2022 and is expected to reach USD 70.74 million by 2030, at a CAGR of 6.3% from 2023 to 2030. In India, synthetic colorants dominate the market for food colorings, with natural colorants coming in second. Because of escalating consumer demand, the natural color industry is growing much more swiftly.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of synthetic food colors market is mainly driven by increase in beverages, bakeries, snacks, cereals, dairy, fruit preparations, soups, pet food, etc.

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