The global food colorsmarket size is predicted to reach USD 4.77 billion by2026, exhibiting a CAGR of 8.19% during the forecastperiod. The growing demand for processed food products and carbonated beverageswill boost the food colors market trends during the forecast period. The risingshift towards all-natural and chemical-free products will bolster the healthygrowth of the market in the forthcoming years. Besides, the increasingawareness regarding the benefits of plant-derived food ingredients willaccelerate the food colors market revenue in the forthcoming years.
According to the published report by Fortune Business Insights,titled “Food Colors Market Size, Share & Industry Analysis, ByType (Natural, Synthetic, Naturally-identical, Caramel, and Others), By Source(Plant and Animal, Chemicals, and Others), By Application (Processed Foods andBeverages), and Regional Forecast, 2019 – 2026” the market sizestood at USD 2.55 billion in 2018.
An Overview of the Impact of COVID-19 on Food Colors Market
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The food colors market report is fixed at delivering a comprehensivedescription of the market dynamics and structure by identifying and providinginformation regarding the key market segments. It also focuses on anall-encompassing analysis of leading market players by financial position,product, product portfolio, price, growth strategies, and regional presence. Itoffers PORTER’s analysis and SWOT analysis to record the question ofshareholders and highlights the investment potential in the upcoming future. Italso showcases what procedures and strategies; companies are currentlyimplementing in the food colors market. It further examines the ways andcomponents convincing expansion, growth patterns, restricting factors, andmarket strategies.
Competitive Landscape:
Launch of Technology Centre by Symrise to Boost Market Prospects
Symrise AG, a global leader, and producer of flavors andfragrances launch its new Asia-Pacific Flavor Innovation and Technology Centre.The Centre is aimed to contribute to Asia’s regional food & nutrition hub,whilst boosting the local food manufacturing capabilities. The announcement ofthe Innovation and Technology Centre will bolster healthy growth of the marketin the forthcoming years owing to the € 30 million expansion of its regionalheadquarters in Singapore, which will help food manufacturers in 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 centers 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.” Besides, the growing consumption of food items among the generalpopulation will subsequently aid the expansion of the food colors market.
Regional Analysis:
High Consumption of Packaged Food to Promote Growth in NorthAmerica
North America generated a revenue of USD 667.77 million in 2018and is predicted to witness high growth during the forecast period owing to thegrowing demand for natural food colors among manufacturers. The rising number ofbans on synthetic colors for ecological and toxicological reasons willpositively contribute to the growth of the market in North America. Theincreasing westernization and commercialization will bolster the healthy growthof the market in the region.
The rising demand for carbonated drinks will fuel demand fornatural and synthetic colors, which, in turn, will augur well for the market.The growing consumption of ready-to-eat snacks will create opportunities forthe market in the Asia Pacific in the forthcoming years. The surge in workingpopulation along with rising disposable income will stimulate growth in thecountries of Asia Pacific
Browse Detailed Summary of this Research Insights with Table ofContent:
https://www.fortunebusinessinsights.com/food-colors-market-102644
