(Entertainment-NewsWire.com, December 22, 2021 ) The market for food colors is estimated to be USD 4.3 billion in 2021; it is projected to grow at a CAGR of 4.7% to reach USD 5.4 billion by 2026. Food colors play a significant role in enhancing the visual appeal of off-color or colorless products. They also help to retain the original properties of vitamins, flavors, and nutrients in food products that can get altered due to sunlight.
The increase in consumption of processed food products across regions is a major factor that is projected to drive the demand for food colors. The demand for confectionery and dairy products is increasing, particularly in emerging economies, such as India, China, Brazil, Argentina, Japan, and South Africa. This has led to an increase in the consumption of food colors, which is projected to continue over the next five years.
Key players in this market include ADM (US), International Flavors & Fragrances Inc. (US), Sensient Technologies Corporation (US), DSM (Netherlands), Naturex (France), DDW (US), Döhler Group (Germany), Florio Colori (Italy), and Lycored (Israel). These players have adopted growth strategies such as collaborations and agreements to increase their presence in the global market.
Archer Daniels Midland Company (ADM) (US) is primarily engaged in the production of food ingredients, animal feed & feed ingredients, biofuels, and naturally-derived alternatives to industrial chemicals. The company functions through four segments, namely, oilseeds processing, corn processing, Wild Flavors, and Specialty Ingredients, and agricultural services
International Flavors & Fragrances Inc. (IFF) (US) is primarily engaged in the production and distribution of flavors & fragrances for products, such as fine fragrances, cosmetics, detergents, household goods, food, and beverage ingredients. It majorly operates through two business segments, namely, flavors and fragrances. The company’s agreement with Frutarom (Israel) in 2018 has helped it expand in the food colors market.
Sensient Technologies Corporation (US) is a producer and distributor of food colors, flavors, and fragrances. It has two major business segments—the flavors and extracts & colors. The major products offered by the company include flavors and flavor enhancers; fragrances and aroma chemicals; dehydrated vegetables and other food ingredients; natural and synthetic food & beverage colors; cosmetic and pharmaceutical colors; additives and technical colors; inkjet colors and inks, and specialty dyes and pigments.
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