Food Color Market Size Worth USD 6.18 Billion by 2030

According to a Comprehensive Research Report by Market Research Future (MRFR), “Food Color Market Information by Source, Application, and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 6.18 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 4.93% during the review timeframe.

Market Scope:

Food color is any dye or ingredient that adds color to food and beverages. Food colors come in various forms, including powders, gels, liquids, and pastes, and are used in a variety of applications, including meat products, dairy, bread & confectionery, drinks, packaged foods & veggies, and oils & fats. Food coloring does not usually imply that the components are organic; nonetheless, it alludes to the use of fewer substances in a few circumstances. Food coloring replaces the color lost during food manufacturing and improves the intrinsic color, decreases variances, and colors uncolored food. To sell their food goods, most corporations use the notion of connecting colors with taste. Food processing involves various activities, including both thermal and non-thermal procedures. The desire for clean-label ingredients is driving this market. Consumers are shifting away from chemical additives and toward all-natural, chemical-free products. This trend is certainly attributable to increased consumer awareness of the many health risks posed by chemical substances instead of plant-derived ingredients.

Market Drivers:

The increasing consumer awareness of the use of clean-label items is one of the primary market developments anticipated to aid market producers and manufacturers. Furthermore, many natural food colors offer extra benefits, and the availability of accurate information on the subject will assist the food color market with significant demand drivers during the projection period. Natural food colors are of natural origin, and market participants entice potential audiences about the usage of these items, which are deemed safe to use.

The worldwide food colors market is expanding due to increased interest in organic colors from various end-use sectors such as food & drinks, bakery & confectionery, milk products, meat & chicken, and seafood. This is predicted to increase the use of plant sources such as carotenoids, curcumin, anthocyanin, and carmine. Natural colors are devoid of genetically modified organisms (GMOs) and allergies, and they work as antioxidants and coloring agents in the body, protecting it from cell damage, medical conditions, and the effects of aging. Red sandalwood, for example, has wound-healing qualities and is utilized in Ayurvedic medicine. As a result of increased awareness about the health benefits of natural colorants, the food colors business is expanding.

Market Restraints:

Many municipal and federal authorities are developing various regulations that prohibit the use of color for culinary purposes. This feature will likely limit the food color market's activities during the anticipated period. The FDA holds and performs an important role in regulating additives that eventually reach consumers in the US market, which is part of the North American region. The rule applies to the use of synthetic colors in foods and drinks. The implementation of these laws has created constraints on the worldwide amount of food colors during the current projection period.

On the other hand, consumers face numerous problems in terms of the pricing, procedure, applications, and reliability of natural components. Natural ingredient extraction is a complicated and time-consuming process that exhausts some natural ingredients while decreasing the output of high purity products. This issue is expected to stifle the development of the food coloring industry in the future years.

COVID 19 Analysis

The demand for natural components with traceability of source and extraction has grown critical due to COVID-19. Veganism has grown significantly in popularity in recent years. It is expected to grow further, shifting consumer demand to plant-based food ingredients. The COVID-19 outbreak and unfavorable connotations with animal-based meals are expected to motivate consumers to choose plant-based components, driving the usage of natural food colors in the food colors industry.

www.globenewswire.com