The Food Colors market is projected to reach USD 8.99 Billion by 2030. The market demand is expected to be propelled by an increase in food consumption. Growth in the natural colors market segment is driven by customer preference for healthy and natural colors of the food. Moreover, this industry development is driven by the rise in disposable cash flow and the increasing growth of quick-service restaurants across the globe.
With globalization, people around the world are consuming diverse cuisines with different flavors and aesthetic appeals. This has provided a considerable incentive for food color manufacturers to create and implement new ways of expanding their client base. In order to enhance characteristics such as thermal and pH stability, the industry players concentrate on research and development of new products or use cases. These companies invest extensively in their R&D and maintain a firm competition on the basis of product quality & price, since each source is derived from the same source in its pure form.
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Top 10 Profiled in the Global Food Colors Market Report: Archer Daniels Midland Company, Kalsec, Inc., Chr. Hansen A/S, Fiorio Colori SPA, FMC Corporation, D.D. Williamson & Co., Dohler Group, Sensient Technologies Corporation. Koninklijke DSM N.V., Inc. (DDW), and Naturex S.A., among others.
Further key findings from the report suggest
In recent years, all of the major market players have invested heavily in R&D initiatives, contributing to the invention of several innovative products. Major players aim to enhance their product portfolio by strategic mergers and acquisitions of small and medium-scale companies. In the coming years, therefore, an intense rivalry among players is expected.
Revenue growth in the global consumer goods market is primarily due to factors such as the rapid increase in the world population, the growing demand for food and other essential goods, including healthcare & nutrition, personal care & hygiene, and electronic products. Consumer preferences and lifestyles are changing significantly, the demand for packaged and processed food and beverage products is rising, and the number of people working is increasing. There has been a rapid adoption of cutting-edge technologies such as artificial intelligence (AI), IoT (Internet of Things), big data analytics, robotics & automation in the consumer goods industry. Other key factors driving the growth of the global consumer goods market include a growing awareness of the adverse environmental impacts of plastic packaging and a growing demand for eco-friendly and sustainable packaging solutions. Rising income levels in developing economies such as India and stringent government regulations for product quality and safety are expected to boost market revenue growth in the near future.
Product Type Outlook (Revenue, USD Billion; 2019–2030)
Pigments & Chemicals Outlook (Revenue, USD Billion; 2019–2030)
Application Outlook (Revenue, USD Billion; 2019– 2030)
Form Model Outlook (Revenue, USD Billion; 2019–2030)
Solubility Type Outlook (Revenue, USD Billion; 2019-2030)
Key Regional Markets Covered in the Report:
Key Takeaways of the Global Food Colors Market Report:
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The post Food Colors Market Trend 2030: The Growing Trend of Cuisines with Intense Flavors and Aesthetic Appeals appeared first on Market O Graphics.