The global food colors market size ispredicted to reach USD 4.77 billion by 2026, exhibiting a CAGRof 8.19% during the forecast period. The growing demand for processedfood products and carbonated beverages will boost the food colors market trendsduring the forecast period. The rising shift towards all-natural andchemical-free products will bolster the healthy growth of the market in theforthcoming years. Besides, 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 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
The emergence of COVID-19 has brought the world to a standstill. Weunderstand that this health crisis has brought an unprecedented impact onbusinesses across industries. However, this too shall pass. Rising support fromgovernments and several companies can help in the fight against this highlycontagious disease. Some industries are struggling and some are thriving.Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and growduring COVID-19 pandemics. Based on our experience and expertise, we will offeryou an impact analysis of coronavirus outbreak across industries to help youprepare for the future.
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 and fragrances launchits new Asia-Pacific Flavor Innovation and Technology Centre. The Centre isaimed to contribute to Asia’s regional food & nutrition hub, whilstboosting the local food manufacturing capabilities. The announcement of theInnovation and Technology Centre will bolster healthy growth of the market inthe 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, Dr Heinz-JürgenBertram, said in a statement, “Asia is fast becoming one of the main globalsources of influence and inspiration for innovative food products. And majorcenters for business, lifestyle, technology, health, and nutrition likeSingapore will be at the heart of this megatrend. He further added, “Similarly,Singapore will continue to be within the heart of our growth story and Ibelieve the new research and innovation facilities will ignite greatercollaboration, connectivity and creativity among industry stakeholders, thatwill further develop Singapore’s food research and manufacturing industry capabilities.”Besides, the growing consumption of food items among the general populationwill subsequently aid the expansion of the food colors market.
Regional Analysis:
High Consumption of Packaged Food to Promote Growth inNorth America
North America generated a revenue of USD 667.77 million in 2018 and ispredicted to witness high growth during the forecast period owing to thegrowing demand for natural food colors among manufacturers. The rising numberof bans 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 for natural andsynthetic colors, which, in turn, will augur well for the market. The growingconsumption of ready-to-eat snacks will create opportunities for the market inthe Asia Pacific in the forthcoming years. The surge in working populationalong with rising disposable income will stimulate growth in the countries ofAsia Pacific
Browse Detailed Summary of this Research Insights withTable of Content:
https://www.fortunebusinessinsights.com/food-colors-market-102644
