DUBAI, U.A.E /PRNewswire/ -- As per Future Market insights (FMI), the global market for caramel food colors is anticipated to surpass a valuation of US$ 409 Mn by 2031 in comparison to the valuation of US$ 165.2 Mn registered in 2021. The market has been forecast to exhibit a CAGR of 9.5% over the forecast period 2021-2031.
Growing preference for foods that are not only appealing but also nutritious and healthy are accelerating growth of the caramel food colors market. Also, the increasing inclusion of caramel food colors in soy sauce, seasonings, breads, pet meals and cereals is spurring sales prospects.
Besides these, increasing scope for application in bakery and confectionary products is creating lucrative opportunities for growth. Demand will continue increasing owing to surging consumer spending on specialty and decorative food products.
Among various types, caramel (sulphite ammonia) is gaining traction in the food and beverage industry on account of its stabilizing and coloring properties. FMI has forecast that the segment will account for over 50% of the market share in 2021.
Regionally, North America will emerge as a highly lucrative market. Growth prospects for the U.S. market remain positive driven by increasing demand for chocolates in the country. Caramel food colors are often included in chocolates. Considering this, rising chocolate sales will remain a chief growth driver for the market in the U.S.
Manufacturers are focusing on expanding their premium product lines by incorporating novel flavors and colors such as candy-coated lentil, liquor-flavoured caramels, and caramel-centered products.
"Leading market players are focusing on new product launches to address the evolving needs of consumers across the globe. Besides this, the increasing emphasis on acquisitions and partnerships programs is bolstering growth prospects for the market," said a FMI analyst.
Key Takeaways from Caramel Food Colors Market Survey
- Driven by rising demand for chocolates, the U.S. is estimated to account for 84.7% of North America market in 2021.
- India market for caramel food colors is projected to reach a valuation of US$ 8.3 Mn in 2021.
- Backed by increasing usage of caramel food colors in energy drinks, China is likely to grow at a CAGR of 7.4%.
- Brazil is anticipated to account for over 48.5% of the Latin America market owing to increasing demand for caramel food color in the local beverage industry.
- Germany is leading the caramel food colors market in Europe and is expected to account for 23.1% of the overall market share in 2021.
Key Drivers
- Rising application in bakery and confectionary sectors is propelling scope for expansion of the market.
- Rapid growth witnessed in the convenience food industry is expected to accelerate the sales of caramel food colors.
Competitive Landscape
Caramel food colors manufacturers are undertaking acquisitions and partnerships to gain a strong foothold in the market.
For instance, in 2018, Roquette announced the completion of acquisition Sethness Products Company, a leading manufacturer of caramel colors for food and beverage applications. This acquisition aligns with Roquette's growth strategy focused on expanding its portfolio of food, nutrition and health to address the needs of existing as well as new customers.
In 2021, Chr. Hansen Natural Colors, a global leading provider of natural colors announced the acquisition of SECNA Natural Ingredients Group to expand its strong pigment portfolio.
Some of the leading players operating in the caramel food colors market profiled by Fact.MR are:
- BioconColors
- DDW, The Color House
- Döhler Group.
- Kalsec Inc.
- DSM
- Naturex S.A.
- Others
More Valuable Insights on Market
FMI, in its new report, offers an unbiased analysis of the global caramel food colors market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in caramel food colors market with detailed segmentation:
By Type:
- Caramel (Plain)
- Caramel (Caustic sulphite)
- Caramel (Ammonia)
- Caramel (Sulphite ammonia)
By Application:
- Beverage
- Milk Drinks & Milk Alternatives
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Sports Drinks
- Coffee & Cocoa
- Tea
- Energy Drink
- Juice Based Drinks
- Flavored water
- Enhanced Water
- Sparkling Waters
- Bakery, Snacks, & Cereal
- Breakfast Cereal
- Bread
- Cakes & Pastries
- Cookies
- Biscuits & Cones
- Frosting / Icing
- Crackers & Savoury Snacks
- Candy / Confectionery
- Panned Candy
- Chocolate & Compound Coating
- Gummies
- Chewing Gum
- Jellies & Licorice
- Sprinkles & Sugar
- Hard Candies / Boiled Sweets
- Dairy
- Cheese
- Ice Cream
- Milk Drinks & Milk Alternatives
- Pudding / Custard
- o Dips & Spreads
- Yogurt
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Casings
- Egg & Egg Substitute
- Fish / Seafood
- Jerky
- Meat Substitute
- Processed Meat & Poultry
- Potatoes, Pasta, & Rice
- Pasta
- Potato Chips / Crisps
- Processed Potatoes
- Rice
- Sauces, Soups, & Dressings
- Asian Sauces
- Barbecue & Steak Sauce
- Condiments
- Gravy / Dry Sauce Mix
- Marinade
- Oils & Dressings
- Seasonings
- Batter
- Breading and Coating
- Bouillon / Soup Base / Stock
- Liquid Smoke
- Spice Blends / Dry Seasonings
- Pet Food
- Extruded / Dry Pet Food
- o Snacks / Treats
- Wet Food
By Region:
- North America
- Latin America
- EMEAI
- APAC
Key Questions Covered in the Caramel Food Colors Market Report
- The market survey also highlights projected sales growth for caramel food colors market between 2021 and 2031
- The report offers insight into caramel food colors demand outlook for forecast period 2021-2031.
- Caramel food colors market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Caramel food colors market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE Future Market Insights
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