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NEW YORK , April 27, 2022 /PRNewswire/ -- The colorants market size is expected to increase by USD 19.09 bn from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 5.85% during the forecast period, according to Technavio. This report extensively covers colorants market segmentation by end-user (textile, personal care, food, paints and coatings, and others), type (pigment, dyes, color concentrates, and others), and geography (Europe , North America , APAC, South America , and the Middle East and Africa ).
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The colorants market covers the following areas:
Colorants Market Sizing Colorants Market Forecast Colorants Market Analysis
The increasing consumer demand for natural food colorants is driving the global colorants market growth. Vendors in the market are engaging in research and development activities to develop products that cater to the demands of consumers. For instance, in September 2021 , Divi Laboratories Ltd. launched its new product CaroNat, made from concentrated carrot juice and containing beta-carotene. Some of the major food companies are reducing their use of artificial food colorants. For instance, General Mills has removed artificial colors and flavors from all of its cereals. Similarly, Kellogg Company has stopped the use of artificial colors and flavors in its cereals. Such factors will drive the growth of the colorants market during the forecast period.
The high prices of colorants are challenging the growth of the global colorants market. The extraction of colorants such as natural colorants from natural sources, such as trees, plant saps, flowers, fruits, and vegetable juices, is a time-consuming process, which increases the cost. There are numerous advanced technologies to extract such natural ingredients. However, only a few vendors have access to them. The lifespan of naturally derived colorants is limited, which further leads to difficulty in storage. These factors compel end-users to be completely or partially dependent on the use of synthetic and artificial colorants. Thus, the increase in the cost of natural colorants is expected to hinder the concerned market growth during the forecast period.
By geography, the market has been segmented into Europe , North America , APAC, South America , and the Middle East and Africa . Europe will account for 30% of the market's growth during the forecast period. The significant increase in the demand for paints and coatings from the construction segment will drive the colorants market growth in Europe during the forecast period. Market growth in this region will be faster than the growth of the market in North America and MEA. Germany and UK are the key countries for the colorants market in Europe .
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Food Colorants Market by Type and Geography - Forecast and Analysis 2022-2026
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Accelerate at a CAGR of 5.85%
Europe, North America, APAC, South America, and Middle East and Africa
US, Canada, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Ampacet Corp., Archroma Management GmbH, Atul Ltd., Avient Corp., BASF SE, Cabot Corp., ChromaScape LLC, Clariant International Ltd., DIC Corp., Divis Laboratories Ltd., DuPont de Nemours Inc., DyStar Singapore Pte. Ltd., Ferro Corp., Flint Group, Heubach GmbH, Holland Colours NV, Huntsman Corp., LyondellBasell Industries NV, Solvay SA, and Sudarshan Chemical Industries Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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