Global Vegetable Carbon Market: Overview
Vegetable carbon is odourless, insoluble, black color powder used as a food color in products such as ice cream, baked goods, icing, and confectionery products. Authority in the Europe and Canada approves vegetable carbon as a food colorant whereas it is banned in the U.S. Vegetable carbon is known as carbo medicinalis vegetabilis, carbon black, or vegetable black. It is produced by charring or steam activation of vegetable fibers. The vegetable carbon is produced by carbonization of the various source at high temperature including coconut shells, peat, cellulose residues, wood, and other shells. The Western Europe vegetable carbon market accounts for relatively high revenue share, followed by Asia Pacific vegetable carbon market over the forecast period, attributed to relatively high demand for processed food and confectionaries across the regions.
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Global Vegetable Carbon Market: Dynamics
Some of the important factor fuelling the growth of global vegetable carbon market include high demand for processed food products, growing the pharmaceutical and cosmetic industry, and increasing demand for natural food colorants. To counter the same, vegetable carbon market players are investing in research and development and production of vegetable carbon to meet the regulatory specification with increasing demand. Some macroeconomic factors making a positive impact on global vegetable carbon market includes increasing population, the rapid rate of urbanization, and growing domestic income. Whereas, health hazards of vegetable carbon on the workers working in vegetable carbon manufacturing plant for a long time and on the consumers consuming for a longer period leads to restraining the global vegetable carbon market. The trend identified in the global vegetable carbon market is mergers and acquisitions between vegetable carbon producers and food manufacturers. The company manufacturing vegetable carbon products has a significant opportunity in regions such as Europe, and Asia Pacific, attributed to high demand for natural food colorants and high demand for confectioneries. Companies have a significant opportunity in global vegetable carbon market through collaboration with end-users i.e. food product manufacturers.
Global Vegetable Carbon Market: Segmentation
The global vegetable carbon market is segmented by source, by end-use, and by region. By source, the global vegetable carbon market is fragmented as coconut shells, peat, cellulose residues, wood, and other shells. Among these, the wood segment is expected to contribute to the significant revenue share with a relatively high growth rate over the forecast period in the global vegetable carbon market. Cellulose residues segment is followed by the wood segment with a relatively high growth rate considering both value and volume in the global vegetable carbon market.
Global Vegetable Carbon Market: Regional Overview
By geographies, the global vegetable carbon market is segmented into seven regions — North America, Western Europe, Asia-Pacific except Japan, Eastern Europe, Latin America, the Middle East & Africa, and Japan. Among the regions, Western Europe accounts for a relatively high share of the global vegetable carbon market in terms of value, owing to high demand for food colorants in the region. Asia Pacific is followed by Western Europe in the global vegetable carbon market, attributed to rapidly rising demand for processed food and beverages across the region. Eastern Europe and Japan also accounts for significant value share in the global vegetable carbon market. The North America is expected to account for relatively low value as well as volume share in the global vegetable carbon market, owing to the restriction of the use of vegetable black in the U.S. market. Latin America and Middle East Africa is expected to have relatively high opportunity for vegetable carbon market players, attributed to high demand for bakery and confectionery products in the region. Overall, the outlook for the global vegetable carbon market will have a positive growth over the forecast period.
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Global Vegetable Carbon Market: Key Players
Few players of vegetable carbon market include DDW The Colour House, Jiangmen Goody’s Food Co., Ltd., Bolise Co., Ltd., Wpasta Co. LTD., Guangzhou WellLand Foods Co., Ltd., Chr. Hansen Holding A/S, Univar Food Ingredients, Dynasty Colourants Co., Ltd., KF Specialty Ingredients, Hawkins Watts Australia, and Holland Ingredients.