The food colouring market was valued at the US $ 3.71 billion in 2017. It is projected to grow at a combined annual rate of 5.7% and reach the US $ 5.12 billion in 2023. The primary purpose of the report is an application, type, and shape. , Solubility and region.
The global food colouring market is estimated at the US $ 3.88 billion in 2018, growing at a compound annual growth rate of 5.7% and reaching US $ 5.12 billion in 2023. Factors such as Demand Growth Natural food dyes have significantly boosted the colour food market due to increased consumer awareness of clean label products and the additional health benefits of specific food colours.
By type, carmine was the most colour in 2018, followed by caramel. Its wide range of applications, such as cake frosting, hard candy, bakery products, ice cream, yogurt, jelly desserts, fruit syrups, jams, candy, a jam in the food industry, is widely used by food and beverage manufacturers. .. Due to recent trends in the food industry, consumers are looking to natural colours for their health benefits.
The food colouring market is divided into food and beverage segments according to usage. Processed foods accounted for the largest share in 2018, followed by bakeries and confectionery products. Processed foods such as French fries, sausage bread, canned vegetables, salty snacks, and other convenience foods dominated the food colouring market.
The powder form segment dominated the overall food colouring market demand in 2017 with a revenue share of over 65%. Versatility, ease of use, colour consistency, and bulky use are key drivers of global market growth. Moreover, these product forms have a longer shelf life than the liquid state and provide more control over decorative applications than conventional liquid colouring.
The liquid foam market segment is expected to grow at a CAGR of over 6% from 2018 to 2024. Key features such as availability in various supermarkets and department stores, low cost, and high pastel colours drive foam liquids' growth. In addition, the compact packaging and convenient end-user use in the form of plastic squeeze bags and tubes further accelerate business growth.
Depends on solubility
Dyes have emerged as the preferred type in the soluble segment and are expected to record a CAGR of 6.5% or higher by 2024. These solubilizers are available in granular, powder, and liquid forms. Product demand is driven by increased volume use in bakery, dairy, and beverage applications. The variety offered to achieve a wide range of shades and economic properties positively impacted product penetration.
The lake's solubility segment is projected to exceed $ 1 billion by 2024. Lakes are made primarily by precipitating metal salts from dyes. Fundamental properties such as high adaptability and versatility, high stability, availability at various concentrations, and adequate oil solubility increase the demand for lacquer colorants in the food colorants market. In addition, the rise of the bakery and confectionery industry due to the growing demand for cupcakes, cakes, chocolates, and sweets among children around the world will further drive the growth of the sector.
The beverage use segment of the food colour market is estimated to exceed the US $ 1.5 billion by 2024. They are widely used in soft drinks, alcoholic and non-alcoholic beverages. For example, in 2015, the global beverage market was estimated to be over 915 billion litres. The important role that colour plays in beverage purchase decisions is an important factor in facilitating product use. In addition, innovative product developments such as colour blends, colour combinations, and unusual flavours that appeal to consumers drive the industry's outlook.
The Asia Pacific region is expected to witness strong demand at a CAGR of 7% by 2024 in terms of revenue. Increased consumption of processed snacks and increased trade in processed foods have a positive impact on regional growth. Increasing demand for ready-to-eat products in major economies such as India, China, and Australia will drive outcomes over the expected time frame.
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