The global natural food colors market size is expected to reach USD 2.89 billion by 2030, according to a new study by Polaris Market Research. The report “Natural Food Colors Market Share, Size, Trends, Industry Analysis Report, By Product (Carotenoids, Curcumin, Anthocyanin, Carmine, Copper Chlorophyllin, Others); By Form; By Application; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The adoption of natural food colors is greater in Europe as compared to other regions. Well-informed consumers, high spending capacity, and literacy are the main factors for high growth of natural food colors in the region. Natural food colors are expensive as compared to synthetic colors on account of which the adoption of these colors is higher in high-income regions than the regions with developing economies.
The booming food & beverage industry in various parts of the world are expected to become a major driving force for the market over the forecast period, given increased domestic consumption. The market is expected to increase the preference for natural products against artificial dyeing agents. Synthetic food colors, such as tumors, kidney damage, and various allergies, can lead to health risks. Consumers are increasingly aware of the benefits of natural ingredients from harmful artificial products in the near future.
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The increased demand for carotenoids, turmeric, anthocyanin, and carmine, from the applications industry such as drinks and bakery and dairy products, will be expected to have a positive impact. This factor is anticipated in the forecast period to drive market growth. Companies invest and modify their formulations in the development of advanced ingredients. They focus on the development of new brand stories that meet the evolving demand of consumers. New trends emerge in brightly colored foods as synthetic colors disappear from view.
Curcumin (a major ingredient in turmeric) witnessed a huge jump in demand in several parts of the world during COVID-19 as it was widely used to increase immunity in the human body. Customers who wanted to get the most out of turmeric's beneficial properties urged for organic type (Curcumin). The huge demand was driven by the anti-oxidant and inflammatory properties of curcumin.
Polaris Market Research has segmented the natural food colors market report based on form, product, application, and region:
Natural Food Colors, Form Outlook (Revenue - USD Billion, 2018 - 2030)
Natural Food Colors, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Natural Food Colors, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Natural Food Colors, Regional Outlook (Revenue - USD Billion, 2018 - 2030)