The caramel food colors market value is expected to total US$ 1,65,208.1 Thousand in 2021, according to Future Market Insights (FMI). The overall market value is expected to reach US$ 4,09,088.4 Thousand by 2031, growing at a CAGR of 9.5% for 2021-31.
Candy and confectionary applications are likely to remain key to revenue generation, rising at a CAGR of over 7% through the assessment period. The sales within this category will cover US$ 40,135.7 Thousand by the end of the2021. Niche applications in meat products and pet food applications also will create lucrative opportunities.
Food color manufacturers are increasingly aiming at amateur cooks as cuisine trends go global. Amateur cooks throughout the world have been given an appreciative and competitive platform via social media, which is enabling them to demonstrate their discoveries in the baking and confection arena. As a result, the market in the retail and catering sectors is growing.
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As a result, the caramel food colors sales in the retail and catering sectors is projected to grow at an impressive rate through the coming decade. Modern customers are paying close attention to ingredient lists and labels, and they demand complete control over what they eat on a daily basis.
Clean-label trends streamline the ingredients list and remove ingredients that aren’t easily recognized or favored by consumers for food manufacturers, which will create a conducive environment for natural coloring agents.
Key Takeaways from the Caramel Food Colors Market Study
- Seasonings including food coatings, spices and condiments will reflect a high growth rate of 12% CAGR through 2031 owing to the rapidly expanding processed food industry.
- Sulphite ammonia based caramel colors will account for a larger share of 50% in 2021 owing to cost benefits to end use verticals.
- The U.S. is estimated to account for more than 85% of the North America market in 2021, supported by a matured food processing sector.
- China is estimated to account for more than 50% of the Asia Pacific value share in 2021 owing to a vast consumer base, and investments into the processed food sector.
- Germany accounts for more than 22% of the Europe market in 2021, supported by the presence of key players and a prominent manufacturing industry.
“Caramel food colors manufacturers are focusing on launching shelf-stable coloring products to keep up with demand from food producers, helping them get the desired color range and ensure that their food items have a longer shelf-life,” said a lead analyst at FMI.
Who is winning?
Color, texture, and flavor of consumables are tailored to the preferences of the consumer. The number of artisanal bakeries is growing due to rising demand for premium bakery and confectionary products, while being supported by changing lifestyles and consumer purchase habits.
Some of the leading companies offering caramel food colors are BioconColors, DDW, The Color House, Döhler Group Kalsec Inc., DSM, Naturex S.A., and others.
Key Points Covered in Caramel Food Colors Market Study
- Market estimates and forecast 2015-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Caramel Food Colors Market and How to Navigate
- Recommendation on Key Winning Strategies
View TOC of Report @ https://www.futuremarketinsights.com/reports/caramel-food-colors-market/table-of-content
Key Questions Answered in the Report
- How much is the caramel food colors market worth?
In 2021, the market is expected to be worth US$ 165,208.1 thousand.
- What is the share of the top players in the caramel colors market in 2021?
Archer Daniels Midland Company, DDW The Colour House, Döhler Group, GNT International B.V., and Sensient Colors LLC cumulatively will account for a share of 7-10%.
- Which are the top 5 countries driving demand for caramel food colors?
The U.S., China, Germany, Japan, and India consistently reflect high demand for caramel food colors.
- Which countries are key producers of caramel food colors?
The U.S., China, Germany, Russia, and India are the top producers of caramel food colors.
- How much did the global caramel food colors market grow between 2020 and 2021?
The global market for caramel food colors rose 9.2% between 2020 and 2021.
- At what rate did the global caramel colors market grow in the last 5 years?
The global market grew at 8.7% CAGR from 2016 to 2020.
- What factors are driving the demand for caramel food colors?
Investments into natural food coloring, a wide scope of applications in food & beverage and pharmaceuticals, and food safety standards are factors driving growth.
- What is the North America caramel food colors market outlook?
The North America caramel food colors market is set to rise at a 11.8% CAGR through 2031.
- At what rate is the sales of caramel food colors in Europe set to grow?
The Europe market for caramel food colors is projected to rise at a 9.4% CAGR through the assessment period.
- What are the key statistics of the South Korea and Japan caramel food colors market in 2021?
The South Korea and Japan caramel food colors markets account for 11.4% and 5.9% of the global market.