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The growth in the global market for food colours can be attributed to the ever-growing food and beverage industry and constant innovation in food colourings by leading market players. Consumer demand for meat substitutes owing to rising trends of veganism and rising awareness regarding animal cruelty is augmenting the market for plant-based meats, which, in turn, is aiding the market growth of food colours. As competition in plant-based meat production is increasing, companies are constantly trying to upgrade their position with innovations in the visual appearance of their products by introducing meat look alike colours like reds and browns. Furthermore, food colours are increasingly used for distinguishing flavour and special seasoning in meat substitute products. Furthermore, the demand for natural and sustainable food colours, such as natural colours that are produced with sustainable agricultural practices and possess no threat to the environment, are positively influencing the market growth of food colours.
One of the leading companies in the market for food colours, GNT Group (NYSE: GNT), has recently expanded its range of plant-based EXBERRY colours in July 2021 to include two new green shades made from spirulina and turmeric. The two new colours, Shade Lime Green and Shade Jade Green, are halal, kosher, and vegan-friendly and can be used in a variety of applications, including jellies, gummies, dairy products like ice creams, confectionery, and others. The new line of these green shades are anticipated to be favoured by their soothing colours and are anticipated to help the company cater to the demand for cost-effective, clean-label, and consumer-friendly products. The innovative food colours are naturally produced without adulteration and chemicals, and are available in liquid forms. Such innovations in the global market for food colours are anticipated to augment the industry growth over the forecast period.
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The major players in the global food colours market are Sensient Colors LLC, Chr. Hansen Natural Colors A/S, BASF SE, DSM Nutritional Products AG, Naturex S.A., and DDW, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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