A report by Transparency Market Research, titled, “Food Color Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2026,” projects this market to witness immense growth in the forthcoming years.
The culinary industry is evolving with leaps and bounds, as especially in the last few years, people want to try out new tastes and flavors. A major component of foods, especially the ones that are available in restaurants and cafes, food joints and food trucks, use food coloring in some amounts or the other. This is mainly due to the inherent functions of food colors that involves making dishes look more attractive and appealing, thus increasing the chances of consumers relishing them.
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The forthcoming years are expected to be highly beneficial for the market, as numerous ready-to-eat food varieties are gaining a lot of attraction. These foods might contain colors as a supplementary ingredient, and owing the visual aesthetics attached with these substances, this market is project to expand substantially in the near future. As supermarket and hypermarket chains grow, the production, supply, and use of food coloring in various products will surely increase, thus leading to a fantastic expansion witnessed by the market.
However, volatility in costs of food coloring products has been notably restraining the global food color market in recent times. This is because, fluctuation in production capacity of ready-eat-products and dishes made with food colors as the main ingredient might disturb demand and supply rates. Nevertheless, numerous manufacturers are coming up with less costly products, which is expected to nullify the effects of restraints affecting the market in future.
The global food color market mainly depicts the presence of a highly fragmented and competitive vendor landscape. This is majorly due to innumerable players operating in this sector. The market is expected to depict a notably intensified competition owing to the entry of new players on a regular basis. Bringing about extensive product innovations for overall development is a prime strategy implemented by most businesses working in the global food color market. With new manufacturing companies getting established on a regular basis, this market is expected to depict a highly intensified competition in the near future.
The global food color market is mainly spread across North America, Europe, Asia Pacific excluding Japan, the Middle East and Africa, Japan, and Latin America. Of all these regions, Asia Pacific and Japan exhibit presence of people who consume a plethora of cuisines such as Chinese, Malaysian, Indonesian, Thai, and others, wherein food colors could be extensively used. However, the market is also catching up in other regions such as North America and Europe. Fast-paced lifestyles, less time available for cooking at home, and proliferation of a culture that involves eating at restaurants and at other outdoor places too has caused the market to mushroom in recent times.
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D.D. Williamson & Co. Inc., Archer Daniels Midland Company, Koninklijke DSM N.V., Chr. Hansen S/A, Fiorio Colori, FMC Corporation, Naturex S.A. (DDW), Döhler Group, Sensient Technology Corporation, and Kalsec Inc. are key players operating in the global food color market.