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NEW YORK , March 3, 2022 /PRNewswire/ -- The food colorants market estimates a market value of USD 1.01 billion from 2021 to 2026. Technavio report offers a detailed analysis of the market and the new opportunities that market players can expect. In addition, the report projects the market to progress at a CAGR of 4.42%. The food colorants market is going to record a 3.4% Y-O-Y growth rate in 2022.
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Food Colorants Market: Increasing consumer demand for natural food colorants to drive growth
The key factor driving the global food colorants market growth is the increasing consumer demand for natural food colorants owing to the increase in consumer awareness about the environmental impact caused by artificial chemicals in processed foods. Thus, vendors in the market have been engaging in research and development activities to introduce advanced technologies and develop products that cater to consumer demand. For instance, in September 2021 , Divi's Nutraceuticals, a manufacturer of carotenoid and vitamin ingredients used in food and beverage, launched its new product CaroNat. This natural food colorant offers dark yellow to orange coloration to food and beverages. CaroNat is made from concentrated carrot juice and contains beta-carotene. The product is available in fine powder form and offers stability when exposed to heat. Such factors are expected to support the growth of the global food colorants market during the forecast period.
Food Colorants Market: Increasing consumer demand for clean-label products is a major trend
The major trend driving the global food colorants market growth is the increasing consumer demand for clean-label products. Clean labeling ensures that a product is free from artificial colors, flavors, and ingredients and is made up of natural and organic ingredients, including food colorants. Food producers provide clean labeling to their products to strengthen their market presence and increase their revenues. For instance, prominent food producers such as Mars Incorporated, General Mills, and Kellogg's offer products that are free from artificial colors. In addition, in October 2020 , the FDA approved butterfly pea flower extract as a color additive in response to a petition by Sensient. Similarly, in February 2020 , GNT Group BV filed a petition with the FDA to expand the use of spirulina concentrate in condiments and sauces, dips, plant-based products, salad dressings, and seasoning mixes as a safe color additive. Such factors will have a positive impact on the market growth during the forecast period.
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Food Colorants Market: Segmentation Analysis
This market research report segments the food colorants market by Type (Natural colors, Synthetic colors, and Nature-identical colors) and Geography (North America , Europe , APAC, South America , and the Middle East and Africa ).
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Accelerate at a CAGR of 4.42%
Leading companies, competitive strategies, consumer engagement scope
Archer Daniels Midland Co., AROMATAGROUP SRL, Avees Products India, Cabot Corp., Dohler GmbH, FMC Corp., Givaudan SA, GNT Group BV, IFC Solutions, Incoltec, Kolorjet Chemicals Pvt Ltd., Lycored Corp., Riken Vitamin Co. Ltd., San-Ei Gen F.F.I. Inc., Sensient Technologies Corp., Special Ingredients Ltd., Chr. Hansen Holding AS, Koninklijke DSM NV, Roquette Freres SA, and BASF SE
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
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