Plant Based Food Colors Market

Plant Based Food Colors Market Outlook (2022 to 2032)

The global Plant-Based Food Colors Market is forecasted to be appraised at USD 15.80 billion by 2032, up from USD 9.42 billion in 2022, advancing at a CAGR of 5.3% during the forecast period.

Plant-based food colors are natural colors that are made of plant-based materials like carrot, beetroot, turmeric, and kale, among others.

Sales of plant-based food colors are rising since consumers are constantly moving towards the consumption of natural and organic food products for the maintenance of overall health.

Report Attribute	Details
Plant-Based Food Colors Market Value (2022)	USD 9.42 Billion
Plant-Based Food Colors Market Anticipated Value (2032)	USD 15.80 Billion
Plant-Based Food Colors Projected Growth Rate (2032)	5.3%

In recent years, a large portion of the populace has shifted to intake the vegetarian and vegan diet, hence accelerating the demand for plant-based food colors.

There is increased clean-label product consumption and the inclination towards environment-friendly products is driving the demand.

The plant-based food colors market is having significant growth as the manufacturers are using several plant-based materials to produce food colors that are visually appealing. With a constant focus on new plant sources to produce vibrant new color shades, there is a growing demand for new plant-based food colors in the food and beverage industry.

What are the Key Factors Driving the Plant Based Food Colors Market Growth?

Plant-based food colors are made using natural ingredients like kale, carrot, beetroot, and more. Growing awareness about the benefits of plant-based food colors, health hazards associated with synthetic colors, and health benefits of plant-based food colors are acting as prime drivers in the expanding market shares.

Factors such as rising health consciousness and inclination toward environment-friendly products are likely to increase the demand for plant-based food color in the forecast period.

That plant-based food, colors are nontoxic or less toxic in nature, have fewer side effects than synthetic colors, and have a gradual increase in therapeutic use.

Governments in various countries are supporting the use of plant-based food colors as they are biodegradable in nature and do not cause pollution after disposal.

Several regulations have been passed regarding the use of plant-based food colors, which is further expected o drive the demand for the product across the globe. The demand is also increasing constantly due to the consumer perception of healthier and safer conventional foods. Organic food colors are free from synthetic pesticides, fertilizers, growth hormones, and generally modified organisms and can be highly used for making food attractive.

The expansion of the food and beverage industry impacts the plant-based food colors market positively, thereby driving its growth in the plant-based food colors market.

However, the shelf life and production of these colors stand as two big challenges in the plant-based food colors market. A high cost of production as compared to artificial or synthetic food colors is some of the restraining factors impacting the market size of plant-based food colors.

Other factors impacting the growth of plant-based food colors are the limitations in terms of options available and reactions or changes occurring when mixed with various food products.

What is the Regional Outlook for Plant Based Food Colors Market?

At present, Europe is anticipated to dominate the plant-based food colors market. This can be attributed to the huge food and beverage industry in these regions. In addition, the health-consciousness and vegan population of this region fuel the demand for plant-based food colors.

North American regions form the second-largest market for plant-based food colors. This is due to increasing awareness regarding health hazards associated with artificial food colors.

The growing popularity of colorful foods amongst the millennials is also expected to drive the plant-based food colors market in North America.

The Asia Pacific region, including India and China, also has various business opportunities to explore amid the high availability of herbs and spices. With the availability of plant-based food colors, new businesses are also being established in these regions, expanding the market size of the plant-based food colors market.

Who are Some of the Notable Players in the Plant Based Food Colors Market?

Some of the most notable players in the plant-based food colors market are Archer Daniels Midland Company, D. Williamson & Co. Inc., Sensient Technology Corporation, Dohler Group, Hansen A/S, FMC Corporation, Givaudan, Kalsec Inc., BASF SE, Akay Group, Plant Lipids, AVT Natural Products, and NATUREX Group.

Key Developments in the Plant-Based Food Colors Market

Some of the notable developments in the plant-based food colors market are:

• In January 2017, ColorKitchen launched a new line of natural food coloring sets and sprinkles. These natural food colors set and sprinkles are vegan, gluten-free, and non-GMO. These products are made from natural and simple plant-based materials such as spirulina, turmeric, beet, and annatto. The available food color sets are yellow, blue, and pink, with multicolored rainbow sprinkles.
• In March 2020, Givaudan (a global leader in flavors) launched a line of natural red colors for plant-based proteins and plant-based meat. The new plant-based red color will give the plant-based patties a meat-like color.
• In 2018, Givaudan acquired Naturex, plant extracts manufacturing company. This acquisition will help Givaudan in enhancing its natural and plant-based color line.
• In April 2019, Perennial launched a plant-based RTD beverage for the old age population. The beverage is free from synthetic colors, gluten, artificial sweeteners, and lactose, and with no cholesterol.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 5.3% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type, Form, Application, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Countries Profiled	USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa
Key Companies Profiled	Archer Daniels Midland Company; D. Williamson & Co. Inc.; Sensient Technology Corporation; Dohler Group; Hansen A/S; FMC Corporation; Givaudan; Kalsec Inc.; BASF SE; Akay Group; Plant Lipids; AVT Natural Products; NATUREX Group
Customization	Available Upon Request

Key segments profiled in the Plant based Food Colors Market

By Type:

• Carotenoid
• Anthocyanin
• Chlorophyll
• Annatto
• Paprika Extract
• Spirulina Extract
• Turmeric
• Beet
• Others

By Application:

• Bakery & Confectionery Products
• Beverages
• Packaged Food/Frozen Products
• Dairy Food Products
• Others

By Form:

• Liquid
• Powder

Frequently Asked Questions

Which is the Leading Segment in the Plant Based Food Colors Market?

The powder form Segment is anticipated to be the leading segment in the plant-based food colors market during the forecast period (2022 to 2032).

Who are the Active Players in Plant Based Food Colors Market?

The active players in the plant-based food colors market are Dohler Group, Chr. Hansen A/S, FMC Corporation, Givaudan, Kalsec Inc., BASF SE, Akay Group, Plant Lipids, AVT Natural Products, and NATUREX Group.

Which Region is expected to hold the Highest Market Share in the Plant Based Food Colors Market?

Europe is anticipated to hold the highest market share in the plant-based food colors market.