Global Natural Food Colours Market to Exhibit a CAGR of 6.8% between 2014 and 2020

LONDON - Feb. 16, 2015 - PRLog -- Future Market Insights (FMI) in its latest report titled, “Global Natural Food Colours Market Analysis and Opportunity Assessment, 2014 – 2020”, estimates, the global natural food colours market was valued at US$ 1.14 Bn in 2014, and is expected to expand at a CAGR of 6.8% whereas, the global food colours market is projected to witness a CAGR of 5.1% during the forecast period. However, the global natural food colours market is expected to increase by 2.8 times more than the synthetic food colours market and 2.1 times more than the caramel colours market by 2020.

Market Drivers/Opportunities

The global natural food colours market is driven by factors such as favourable government regulations and increasing need for clean label products during the forecast period. In addition, the Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) have de-listed synthetic food colours, as a result, the demand for natural ingredients from food processing industries in order to produce clean label products is expected to drive the global natural food colours market between 2014 and 2020. Furthermore, factors such as current developments in food colour extraction and delivery techniques, coupled with packaging innovation are expected to fuel the global natural food colours market during the forecast period.

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Market Segments

The global natural food colours market is mainly segmented into product, region and end user. According to the product type, the global natural food colours market is mainly segmented as curcumin, carotenoids (beta-carotene, lutein, annatto and lycopene), anthocyanin, paprika extract, chlorophy11, spirulina extract and other (betalains, carmine etc.). Among the aforementioned segments, carotenoids accounted for 31% of total market share in 2014 followed by anthocyanin with 22%, and is expected to be the largest segment by 2020. Additionally, paprika extract and curcumin collectively witness for more than 20% of the total market share in 2014.

Furthermore, Lycopene is estimated to exhibit a highest CAGR of 11.4% among all the carotenoids during the forecast period. Additionally, spirulina is expected to show a double-digit CAGR over the forecast period, due to US FDA approval for usage of spirulina extract bakery and confectionery applications

Region-wise, Western Europe is the largest market in the global natural food colours market, accounted for 26% of the market share in 2014. The shift towards consumption of coloured foodstuffs is taking place due to food-related regulations in the region. Major regions such as North America and Asia Pacific Excluding Japan (APEJ) are inclining towards production of natural and preservative-free products. As a result, the demand for natural food colours is expected to increase during the forecast period.

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Competitive Land Scape

The global natural food colours market represents major players such as Kalsec, Inc., Sensient Technologies Corporation, Naturex S.A., The Colour House, DDW, GNT International B.V., Archer Daniels Midland Co. (Wild Flavors, Inc.), RAHO DvechemPvt. Ltd., and Chr. Hansen A/S. Kalsec, Inc., Among all the aforementioned players, Kalsec, Inc. and Sensient Technologies Corporation are the key players, and are expected to introduce innovative fixed broad-spectrum natural colours/pigments in the market through 2020.

Other participants include Naturex S.A., DDW, GNT International B.V., Archer Daniels Midland Co. (Wild Flavors, Inc.), The Colour House, RAHO Dvechem Pvt. Ltd., and Chr. Hansen A/S. and Sensient Technologies Corporation are anticipated to hold a considerable market share between 2014 and 2020. Moreover, owing to expertise and scale of spirulina production, Japan-based DIC Corporation is expected to arise as a major supplier of spirulina during the forecast period.

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