Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Natural food colors are foodstuff that is added to food and beverage to enhance consumer appeal. They can be classified into pigments and dyes and are available in the different forms includes liquid gel, paste, and powder. Some of the natural food colors also have antioxidants properties and other health benefits. Natural food colors are used in a variety of food such as meat product, dairy product, beverage, bakery &confectionary, etc.
The global natural food colors market is projected to reach around US$ 2,690.5 million by the end of 2027, in terms of revenue, growing at CAGR of 6.8% during the forecast period (2020-2027)
Rising awareness regarding the health benefits of the organic and natural food ingredients is expected to augment the market of natural food colors. Artificial food colors can cause various disease such as cancer, hypersensitivity, and brain tumors, because of this consumer highly preferred to natural food colors. This, in turn, is projected to drive the market growth of the natural food colors.
Retailers are focusing on new categories for natural food products due to rising health-conscious people which is projected to accelerate market growth. According to the Coherent Market Insights analysis, major retailers such as Kroger and Safeway operate categories such as “Simple Truth” and “Open Nature” respectively. These consist of food made either from all-natural or minimal artificial ingredients.
Figure 1. Global Natural Food Colors Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global natural food colors market in 2019, accounting for 30.4% share in terms of value, followed by Europe and North America, respectively.
High price and uneven availability of raw materials such as fruits, vegetable, and minerals is expected to hamper the production the cycle of the natural food colors. This is expected to hinder the market growth over the forecast period.
Rising demand for lycopene for red/orange hues in food &beverage at various temperature and pH level is expected to augment the market growth over the forecast period. Lycopene is widely blended with beverage and smoothies for imparting colors and enhancing the texture of the beverage.
The growing use of carotenoids in fortified food and beverages owing to various health benefits and food coloring properties is projected to accelerate market growth over the forecast period. At present, beta-carotene is highly preferred for the imparting color in the fortified food for yellow color and also various health benefits.
Figure 2. Global Natural Food Colors Market– Opportunity Analysis
Increasing use of natural food color in baby food as it is subjected to strict rules and regulations thus raising demand for natural food colors. Rising safety and health concerns regarding baby food are further anticipated to augment the market growth of the natural food colors.
The Food Standards Australia New Zealand (FSANZ): Capsanthin (E160c), found in the paprika extract is not listed for use in food and drinks in Australia. Same is the case with Lycopene (E160d) – a natural red color derived from tomatoes and other fruits
Figure3. Global Natural Food Colors Market Share (%) in terms of Value, By Product Type, in 2019
- GNT International B.V.
- Roha Dyechem Pvt. Ltd.
- D.D. Williamson & Co., Inc.
- Kalsec Inc.
- Chr. Hansen A/S
- Archer Daniels Midland Company
- Adama Agricultural Solutions Ltd. (LycoRed)
- Naturex S.A.
- Sensient Technologies Corporation
- Symrise AG
Few Recent Developments
- In November 2018, Symrise AG has opened a site for high-quality natural food ingredients in the US state of Georgia. The group invested €50 million in the facility, which follows high technological and sustainable standards. The plant will manufacture products for the business units Food Ingredients, Symrise Flavor and Pet Food.