The global food colors market sizeis predicted to reach USD 4,772.58 million by 2026, exhibiting a CAGR of 8.19%during the forecast period. The growing demand for processed food products andcarbonated beverages will boost the food colors market trends during theforecast period. The rising shift towards all-natural and chemical-freeproducts will bolster the healthy growth of the market in the forthcomingyears. In addition, the increasing awareness regarding the benefits ofplant-derived food ingredients will accelerate the food colors market revenuein the forthcoming years.
According to the published report by FortuneBusiness Insights, titled “Food Colors Market Size, Share and IndustryAnalysis, By Type (Natural, Synthetic, Naturally-identical, Caramel, andOthers), Source (Plant and Animal, Chemicals, and Others), Application(Processed Foods and Beverages), and Regional Forecast, 2019 2026” the marketsize stood at USD 2,552.41 million in 2018.The food colors market report isfixed at delivering a comprehensive description of the market dynamics andstructure by identifying and providing information regarding the key marketsegments. It also focuses on an all-encompassing analysis of leading marketplayers by financial position, product, product portfolio, price, growthstrategies, and regional presence. It offers PORTER’s analysis and SWOTanalysis to record the question of shareholders and highlights the investmentpotential in the upcoming future. It also showcases what procedures andstrategies; companies are currently implementing in the food colors market. Itfurther examines the ways and components convincing expansion, growth patterns,restricting factors, and market strategies.
Competitive Landscape:
Launch of Technology Centreby Symrise to Boost Market Prospects
Symrise AG, aglobal leader and producer offlavors and fragrances launch its new Asia-Pacific Flavor Innovation andTechnology Centre. The Centre is aimed to contribute to Asia’s regional foodand nutrition hub, whilst boosting the local food manufacturing capabilities.The announcement of the Innovation and Technology Centre will bolster healthygrowth of the market in the forthcoming years owing to the 30 € million expansionsof its regional headquarters in Singapore, which will help food manufacturersin many ways. Furthermore, Chief Executive Officer of Symrise AG, DrHeinz-Jürgen Bertram, said in a statement, “Asia is fast becoming one of themain global sources of influence and inspiration for innovative food products.And major centres for business, lifestyle, technology, health and nutritionlike Singapore will be at the heart of this megatrend. He further added,“Similarly, Singapore will continue to be within the heart of our growth storyand I believe the new research and innovation facilities will ignite greatercollaboration, connectivity and creativity among industry stakeholders, thatwill further develop Singapore’s food research and manufacturing industrycapabilities.” In addition, the growing consumption of food items among generalpopulation will subsequently aid the expansion of the food colors market.
Regional Analysis:
High Consumption ofPackaged Food to Promote Growth in North America
North America generated a revenue of USD 667.77million in 2018 and is predicted to witness high growth during the forecastperiod owing to the growing demand for natural food colors among manufacturers.The rising number of bans on synthetic colors for ecological and toxicologicalreasons will positively contribute to the growth of the market in North America.The increasing westernization and commercialization will bolster healthy growthof the market in the region. The rising demand for carbonated drinks will fueldemand for natural and synthetic colors, which, in turn, will augur well forthe market. The growing consumption of ready-to-eat snacks will createopportunities for the market in Asia Pacific in the forthcoming years. Thesurge in working population along with rising disposable income will stimulategrowth in the countries of Asia Pacific
Browse Summary of ThisResearch:
https://www.fortunebusinessinsights.com/food-colors-market-102644
