Synthetic Food Colors Market Size, Share, Industry, Forecast and outlook (2024-2031)

Market Overview

The Global Synthetic Food Colors Market USD million in 2022 and is projected to witness lucrative growth by reaching up to USD million by 2030. The market is growing at a CAGR of 6.13% during the forecast period (2024-2031). Synthetic food colors, also known as artificial colors is a substance which extracts color when it is added to food or pharmaceuticals.

These are the substances which are added to the food to improve the lost color during the storage or processing, or to give the food a desired color. The synthetic food colors can only be obtained by the chemical reactions. Synthetic food colors are produced in the laboratories and are more stable and generally cheaper than natural food colors. The increasing growth in the advancement of the synthetic food colors will drive the market significantly. 

Market Summary

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Market Dynamics

Due to the satisfactory characteristics of synthetic food colors, the market is expected to grow

The increase in the number of working professionals has driven the society for the consumption of processed and packaged food products. The colors which are amalgamated in the processed food and beverages are to provide an appealing and an appetizing look. The rise in the consumption of the processed foods such as snackes, soft drinks, ready-to-eat, fast foods, processed dairy products , pharmaceutical drugs and others have increased the usage of the food colors. The most commonly used synthetic food colors are pigments and dyes which are generally used in pharmaceuticals, food like candies. Synthetic colors are mostly used due to it’s characteristics such as the low production cost, more color stability, easy availability etc. It helps getting the customers attraction and gives a positive thought of consuming that product. The increasing advancement of the chemical properties and the satisfactory characteristics of synthetic food colors will rise the market of synthetic food colors in the forecast period.  

Stringent regulatories to cut down the market of synthetic food colors 

Synthetic food colors can manifests the presence of carcinogens and the other allergies. Many synthetic colors suych as yellow 5, and red 40 are examined to get the results of containing harmful carcinogens which can cause cancer if it consumed in a daily basis. To avoid this, the governments of many countries are imposing various stringent laws on the utiization of the food colors. An experiment was done on the animals by the Food and Drug Administration(FDA), and  it was revelaed that the Yellow 6, Yellow 5, Blue 1, Blue 2, Red 40, Green 3 indicated the properties of cancer on the animals of the lab. 

Market Segment Analysis

The global synthetic food colors  market is segmented based on product type, form, application, color type, and region.

Bakery, cereals and snacks segment held a highest market revenue share in 2022

Various types of synthetic food colors are used in bakery, cereals and snacks as it attracts and increases the appetite of the consumers. Synthetic food colors are mostly used in the bakeries for to attain certain properties such as low cost, improved appearance, high colour intensity, more colour stability, and uniformity. Food coloring can make baked goods look more visually appealing and attractive to consumers. For example, brightly colored frosting on cupcakes or colorful sprinkles on cookies can make them more eye-catching and appealing. Gel food coloring or liquid-gel food coloring is perfect for baking and cake decorating. Oil-based food colorings are ideal for anything with a high-fat content such as buttercream frosting, coatings or chocolate. The use of food coloring can also be part of a bakery's branding and marketing strategy. For example, a bakery might use a particular color scheme or color palette for their products to make them stand out and be more easily recognized by customers.

Market Geographical Share

North America witnessed an unexpected growth in the market of synthetic food colors

The market of synthetic food colors is being developed due to the increase in demand of the packaged food products in the major countries such as the United States, Canada and Mexico. The rising trend of adopting the western culture and the surge of urbanization is driving the packaged goods consumption gradually upward. As there is a high consumption of the carbonated drinks across the United States, so the market is growing for the synthetic food colors. They are widely available and can be used with an ease, for which they can be brought from the retail stores or from the e-commerce sites. Hence, this is the main reason which will raise the consumption of the synthetic food colors in North America. 

Companies and Competitive Landscape

The major global players include DDW Inc., Archer Daniels Midland Company, Chr. Hansen Holdings A/S, Allied Biotech Corporation, Symrise AG, Denim Colourchem (p) Limited, DIC Corporation (BASF SE), Sensient Colors LLC., Nature S.A., and Dohler Group.  Key Developments

• In October 2020, Chr. Hansen Natural colors has opened a new research and development center to introduce new synthetic colors and to speed up the pigments, formulation and application capabilities in France.
• In July 2021, The GNT Group introduced two EXBERRY colouring foods extracted from turmeric and spirulina. By the launch of these new goods, it will enable to fulfill the rising global demand for affordable green colours.
• In April 2022, Prince International Corporation, a portfolio company of American Securities LLC, has completely acquired Ferro Corporation. This acquisition will bring innovative new colors, enhance the performance and vibrancy of the food product. 

Why Purchase the Report?

• To visualize the global synthetic food colors market segmentation based on form, type, colors, application and region understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous synthetic food colors market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global synthetic food colors  market report would provide approximately 53 tables, 49  figures and 102 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies