The global food colorants market is estimated to grow at a CAGR of nearly 5.6% during the forecast period. There is an increasing competition in the food colorants market and therefore, the market players are focusing on strategic initiatives, such as mergers and acquisitions, geographical expansion, and product launches to expand the range of their products and geographical reach. Most of the market players are increasing their range of natural food colorants owing to its emerging applications in the food and beverage products. Natural food colorants have potential health benefits which resulted in a major shift of food and beverage manufacturers to add natural colorants to increase the sale of their products. The major providers of natural food colorants include Sensient Technologies Corp., Chr. Hansen Holding A/S, and BASF SE. Some key strategic initiatives adopted by the market players comprise-
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- In March 2019, Naturex, a part of Givaudan reinforces its range of coloring foods with a new line of blue Spirulina. The company is popular for its extensive offerings of coloring foods and is scaling its investment in foodstuffs coloring with Vegebrite Ultimate Spirulina. At the production site in Avignon, France, the company has been introduced a new extraction line, which triples spirulina manufacturing capacity. This increase of Naturex’s production capacity has been intended to meet the emerging demand for clean label blues and greens across the globe.
The company is strengthening its coloring foods manufacturing capacity in Europe to deliver its customers with vibrant colors that will support to reduce ingredient lists. Owing to the Naturex acquisition by the Givaudan group, the category of natural colors has become a major development area of business growth for both companies. Blue food will develop a brand that delivers a new enjoyable and surprising experience for food and beverage products ranging from confectionery to cake decoration, ice-cream to juice drinks, and dietary supplements.
- In March 2018, Sensient Technologies acquired the natural color business of GlobeNatural, a natural food and ingredient company based in Peru. This new entity will run as Sensient Natural Colors Peru S.A.C. This acquisition offers significant new carmine and annatto manufacturing capacity and widens the range of anthocyanin color sources in the product portfolio of Sensient Food Colors. As a part of the company’s ‘seed to shelf’ initiative, this acquisition will enable the company to offer major food and beverage manufacturers with cost stability and greater supply while also supporting to reach its goals for socially responsible and sustainable sourcing.
- In April 2018, Chr. Hansen Chr. Hansen acquired the Banker Wire production facility in Mukwonago, Wisconsin that will enhance its presence in North America. This step is intended to meet the demand for US consumers in products developed from safe and natural ingredients. This expansion will reinforce the position of Chr. Hansen in terms of supply chain capabilities in natural color solutions to deliver its existing and future customers.
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Global Food Colorants Market- Segmentation
By Product Type
- Natural
- Synthetic
- Natural Identical
- Others
By Application
- Food
- Bakery and Confectionary Products
- Processed Food
- Meat, Poultry and Seafood
- Dairy Products
- Oils and Fats
- Others
- Beverages
- Alcoholic Beverages
- Juices
- Carbonated Soft Drinks
- Functional Beverages
- Others
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