Lake Food Colors Market Size Worth $476.24 Million By 2032 | CAGR: 6.3%
The global lake food colors market size is expected to reach USD 476.24 million by 2032, according to a new study by Polaris Market Research. The report “Lake Food Colors Market Share, Size, Trends, Industry Analysis Report, By Color Type (Red Color, Yellow Color, Tartrazine Color, and Others); By Form; By Application; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increase in the demand for food colors derived from natural sources that align with emerging trend of natural and organic food & beverage products and surging consumer preferences for specific colors and color combinations in various products, are among the prominent factors influencing the global market growth. In addition, the rising number of stringent regulations and safety standards for food additives and colorants that have fueled the adoption of lake food colors, as they are considered safe for consumption and meet regulatory requirements in many regions.
- For instance, in April 2023, Sensient Technologies, announced that they have developed a natural green colorant application for the pet food applications. The new color solution is cost-effective and adheres to the Association of American Feed Control standards for natural pet food products.
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The exponential rise of e-commerce and online retail channels providing lucrative opportunities for manufacturers around the world to showcase their products to a global audience and boost their sales and revenue. As, eye-catching colors with innovative characteristics and properties could become a valuable asset in online marketing and sales for manufacturers, thereby, generating huge growth potential for the market over the next coming years.
- For instance, as per a recent report published by Hostinger, more than 2.3 million people were expected to buy goods and services online in 2022, which makes of around 28% of the worldwide population. The United States has over 268 million digital buyers in 2022, which is projected to reach 285 million by 2025.
In the recent years, some companies have started focusing on offering customized lake color solutions to food manufacturers that allow them to tailor the various color shades to meet their specific product requirements and enabling the creation of unique and attractive shades for various food and beverage products.
Lake Food Colors Market Report Highlights
- Red color segment accounted for noteworthy share, on account of increasing consumer preferences for bright colored food products & beverages worldwide
- Powder segment held the majority market share, mainly due to its several advantageous characteristics including cost-effectiveness and longer shelf-life
- Beverages segment will grow at highest pace, mainly attributable to surge in the consumption of beverages and continuous innovations in their formulations and flavors
- North America dominated the global market with noteworthy share, owing to region’s high spending capacity on convenience and ready-to-eat food products
- The key market players include Archer Daniels Midland, Sensient Technologies, Kalsec, Alliance Organics, The Colour House, and DSM
Polaris Market Research has segmented the lake food colors market report based on color type, form, application, and region:
Lake Food Colors, Color Type Outlook (Revenue – USD Million, 2023 – 2032)
- Red Color
- Yellow Color
- Tartrazine Color
Lake Food Colors, Form Outlook (Revenue – USD Million, 2023 – 2032)
Lake Food Colors, Application Outlook (Revenue – USD Million, 2023 – 2032)
- Bakery Products
- Dairy Products
- Pet Foods
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