In a recent published report, Kenneth Research has updated the market report for Food Colorants Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Food Colorants Market products.
The growing demand for clean labels is fostering the global food colorants market growth. The companies are indulged in R&D activities to innovate and develop new products, which can open new paths of applications.
The food colorants market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Key Market Insights
The growing economies and increasing per capita income along with technological innovations to bring down the prices are making natural colorants more affordable & efficient. The increasing health awareness all over the regions, especially in developed economies, in combination with growing demand for beverages will foster the global food colorants market growth. The increased efforts in R&D are helping the major players to explore new areas of innovations for food colorant and its applications, providing additional growth opportunities to the market.
Increasing demand for beverages such as energy drinks, sports drinks, and mocktails among others is pacing the food colorants market toward growth. Asia Pacific is dominant in the food colorants market during the forecast period, followed by North America, Europe, and RoW. Food colorants are utilized to add color to food and beverages. Changing and busy lifestyle is making people to dine out more often and try new food & beverages. The added color makes food and beverages more luring to the customers. The growing trend of aesthetics will positively impact the market and contribute to its growth. The companies involved in the manufacturing of food colorants are actively participating in R&D activities to increase their product portfolio along with innovations. They are also focusing on improving the value chain and supply chain to survive and maintain their position in the competitive market.
Few of the prominent companies operating in the food colorants market include BASF, Cargill, Koninklijke DSM N.V., DowDuPont, and Merck. Few of the major customers include Tyson Group, Kerry Foods, Ingredion, PepsiCo, and AB InBev.
o Dairy Food
o Non-dairy Food
o Non-alcoholic Beverages
o Alcoholic Beverages
o Asia Pacific
o North America
o Rest of the World
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