Natural food colors are extracted from natural sources like vegetables, fruits, and other plant and mineral sources. They are increasingly being used in various food products and beverages as colorants. This is driven by the rise of health conscious consumers who prefer food products with clean labels and natural ingredients over artificial food colors owing to potential health risks associated with synthetic variants. Natural food colors provide vibrant colors similar to artificial food colors and help manufacturers cater to consumer demand for colorful and attractive food products while maintaining a natural and clean label.

The global Natural Food Colors Market is estimated to be valued at Us$ 2.05 Bn in 2023 and is expected to exhibit a CAGR Of 14% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One key trend in the natural food colors market is the increasing demand for plant-based natural colors. Consumers are shifting towards a plant-based diet and lifestyle and prefer food products made from plant-derived ingredients. This has driven food companies to utilize natural colors extracted from plant sources like vegetables, fruits and other botanical extracts to cater to this consumer base. Various natural plant pigments like anthocyanins, betalains, carotenoids offer a diverse palette of colors and are gaining popularity. Their antiviral, anti-inflammatory and antioxidant properties provide additional health advantages. Hence, plant-based natural colors are expected to grow at a faster rate compared to other natural color variants in the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate due to requirement of high capital and technical expertise required to enter this market.

Bargaining power of buyers: The bargaining power of buyers is high due to presence of numerous players offering substitutes.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are substitutes available.

Threat of new substitutes: The threat of new substitutes is high as artificial colors can replace natural colors.

Competitive rivalry: The competitive rivalry is high due to presence of numerous established players.

Key Takeaways

The Global Natural Food Colors Market Demand is expected to witness high growth. Regional analysis related content comprises The North America region dominates the natural food colors market due to high demand from food and beverage industry in the region. The Asia Pacific region is expected to witness fastest growth during the forecast period owing to rising health consciousness among consumers in the region.

Key players related content comprises Key players operating in the Natural Food Colors Market are Pfizer Inc., Novartis AG, AstraZeneca PLC, Gilead Sciences Inc., Amgen Inc., Sanofi AG, Hoffmann-La Roche AG, Merck & Co., Bristol-Myers Squibb Company, and Regeneron Pharmaceuticals Inc. Colorful chemical compounds obtained from natural sources like plants, minerals and insects are used as natural colors. These have numerous applications across product categories like packaged food, beverages and others.

The global Natural Food Colors Market size for 2023 is US$ 2.05 Bn. The market is forecast to grow at a CAGR of 14% during the forecast period of 2023 to 2030 with expected market size of US$ 5 Bn in 2030.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it