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Global Food Colours Market to Grow at a CAGR of 12.3% During 2021-2026, Aided by Rising Applications in Plant Based Meat Products

According to a new report by EMR titled, ‘Global Food Colours Market Report and Forecast 2021-2026’, the market attained a value of USD 2.3 billion in 2020. The industry is further expected to grow at a CAGR of 12.3% in the forecast period of 2021-2026 to reach a value of nearly USD 4.6 billion by 2026.

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.

Market Analysis by Type, Application, and Region:

  • On the basis of type, the market can be divided into natural colour and artificial colour.
  • Based on application, the market segmentations include meat products, beverages, dairy, bakery and confectionary, processed food and vegetables, and oil and fats, among others.
  • The major regional markets for food colours are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The industry for food colours is being driven by a rise in demand for natural colours owing to the increasing awareness regarding healthy food consumption and clean label products.
  • The increasing prevalence of online retail channels owing to convenience and flexibility amid fast-paced lifestyles is invigorating the market growth.
  • The market for food flavours is being propelled by demand for vibrant and vivid colours for internet marketing strategies due to the rise in demand for packed and processed foods, and online food delivery channels.
  • Food colours added to meat substitutes are augmenting the overall market owing to the rising trends in veganism.
  • Production of sustainable, environmentally friendly food colours is positively influencing the market growth of food colours.

Key Offerings of the Report:

  • The EMR report gives an overview of the food colours industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for types, applications, and regions of food colours.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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