The global food colors market size is predicted to reach USD 4.77 billion by 2026, exhibiting a CAGR of 8.19% during the forecast period. The growing demand for processed food products and carbonated beverages will boost the food colors market trends during the forecast period. The rising shift towards all-natural and chemical-free products will bolster the healthy growth of the market in the forthcoming years. Besides, the increasing awareness regarding the benefits of plant-derived food ingredients will accelerate the food colors market revenue in the forthcoming years.
According to the published report by Fortune Business Insights, titled “Food Colors Market Size, Share & Industry Analysis, By Type (Natural, Synthetic, Naturally-identical, Caramel, and Others), By Source (Plant and Animal, Chemicals, and Others), By Application (Processed Foods and Beverages), and Regional Forecast, 2019 – 2026” the market size stood at USD 2.55 billion in 2018.
Source Link:
https://www.fortunebusinessins....ights.com/food-color
An Overview of the Impact of COVID-19 on Food Colors Market
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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The food colors market report is fixed at delivering a comprehensive description of the market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases what procedures and strategies; companies are currently implementing in the food colors market. It further examines the ways and components convincing expansion, growth patterns, restricting factors, and market strategies.
Competitive Landscape:
Launch of Technology Centre by Symrise to Boost Market Prospects
Symrise AG, a global leader, and producer of flavors and fragrances launch its new Asia-Pacific Flavor Innovation and Technology Centre. The Centre is aimed to contribute to Asia’s regional food & nutrition hub, whilst boosting the local food manufacturing capabilities. The announcement of the Innovation and Technology Centre will bolster healthy growth of the market in the forthcoming years owing to the € 30 million expansion of its regional headquarters in Singapore, which will help food manufacturers in many ways.
Furthermore, Chief Executive Officer of Symrise AG, Dr Heinz-Jürgen Bertram, said in a statement, “Asia is fast becoming one of the main global sources of influence and inspiration for innovative food products. And major centers for business, lifestyle, technology, health, and nutrition like Singapore will be at the heart of this megatrend. He further added, “Similarly, Singapore will continue to be within the heart of our growth story and I believe the new research and innovation facilities will ignite greater collaboration, connectivity and creativity among industry stakeholders, that will further develop Singapore’s food research and manufacturing industry capabilities.” Besides, the growing consumption of food items among the general population will subsequently aid the expansion of the food colors market.
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