North America Food Colorants Market-Growth, Trends and Forecast (2015-2020)
The food colors market is one of the segments of the global food additives market. Food Colors are used by the food and beverages industry to improve the color of the food which is lost while food processing. Food colors market is projected to reach $2.5 billion by 2020; growing at a CAGR of 4.5%. The North American food & beverage colorants market is estimated to grow at CAGR of 4.6% in the period between 2015 and 2020. The market is driven by easily available raw materials which includes fruits & vegetables. Growing food safety concerns in the global food markets are pressurizing manufacturing to adopt clean labels. The major restrain the industry faces is the growing awareness on the ill effects of synthetic colors. This has triggered the demand for natural colors, which have high costs when compared to synthetic colors. The stringent food standards regulations by FDA and several regulatory bodies is proving to be a constraint for manufactures, thus forcing them to look at alternatives in the form of innovations in the natural colorants.The food safety norms and increased production of the natural colors in North America are ultimately driving the market for food colors. The market is segmented based on types which include synthetic and natural colors. Synthetic colors currently hold a major share, but natural colorants are the fastest growing segment. In terms of region, North America formed the largest segment of the food colors market in 2013. In 2015, the North American food & beverage colorants market is estimated to be dominated by the U.S., followed by Canada and Mexico. In the U.S., the rising rates of foodborne illness and increasing demand for food products are driving the natural food colors. The report profiles companies like Chr Hansen holdings, Royal DSM, Sensient technologies, FMC Corp among others. To gain market share, these companies are adapting numerous market strategies like innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities. Key Deliverables in the Study • Market analysis for the North America food color Market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale • Extensively researched competitive landscape section with profiles of major companies along with their market shares • Identification and analysis of the macro and micro factors that affect the North America food color Market on both global and regional scales • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.