April 24, 2024
Natural Food Colors Market

Natural Food Colors Market is Estimated to Witness High Growth Owing to Increased Health Awareness of Consumers

The natural food colors market is growing, as increasing number of consumers are preferring natural food colors present in fruits and vegetables over synthetic colors. Natural food colors are derived from natural sources like plants and insects and contain the pigments naturally present. They have wide application in processed and packaged foods products like bakery goods, confectionery products, beverages, dairy products and more. Colors not only enhance the appearance of foods but also brand identity.

The global natural food colors market is estimated to be valued at US$ 2.37 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the natural food colors market are Pfizer Inc., Novartis AG, Ipsen, Boehringer Ingelheim International GmbH and Eli Lilly & Company are the major companies operating in the global neuroendocrine tumor treatment market. Key players related content comprises key players related content (Key players operating in the natural food colors market are Pfizer Inc., Novartis AG, Ipsen, Boehringer Ingelheim International GmbH and Eli Lilly & Company.) Second paragraph is talking about the key opportunities in market and third paragraph is talking about global expansion of market. There is increasing demand for clean label and organic food products providing opportunity for players to launch new natural food color products. Moreover, the market is expected witness expansion in Asia Pacific region owing to growing health consciousness.

Market drivers

The increasing health awareness among consumers is driving the growth of the Natural Food Colors Market Size. Consumers are preferring food products with natural ingredients over synthetic ones due to rising health consciousness. Also, stringent regulations regarding the usage of synthetic food colors in several countries is further propelling the demand for natural food colors. The negative publicity of health effects of synthetic colors and clean label trend are some of the major factors augmenting the growth of global natural food colors market.

PEST Analysis

Political: Government regulations for food colors safety and environment protection have impact on natural colors market. Regulations ensure quality and sustainability of natural colors used.

Economic: Rising disposable incomes increase demand for premium and natural products. Fluctuations in raw material prices affect production cost of natural colors.

Social: Growing health concerns drive preference for natural ingredients. Customers desire chemical-free and sustainably sourced products. Social media influences trends in food and beverage preferences.

Technological: Advancements in extraction and stabilization techniques help develop wider variety of natural colors. Researchers work on cost-effective production methods to improve viability compared to synthetic colors.

The geographical region where the Natural Food Colors Market is highly concentrated in terms of value is North America. Countries like United States and Canada have strong demand for natural ingredients from food processing industry and retail sector. Changing lifestyles and health awareness accelerate growth of natural colors sales.

Asia Pacific region is estimated as the fastest growing market for natural food colors over the forecast period. Rising middle class population, increasing expenditure on premium health products, and Western influence on diets contribute to rapid uptake of natural colors. Emerging nations like India, China, Indonesia offer vast business opportunities with growing industries for convenience food, beverages and cosmetics.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it