Powder is the Top form of Lake Food Colors Market to Register a CAGR of nearly 6.4% in the Next 10 years
Rockville, Sept. 18, 2023 (GLOBE NEWSWIRE) — The revenues of Lake Food Colors Market was estimated at US$ 264.9 million in 2022 and are anticipated to grow at a CAGR of 6.5% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 531.8 million. Lake food colors in powder form is expected to generate significant revenue in the market with a projected CAGR of 6.4% from 2023 to 2033.
The key drivers influencing the market expansion include increasing demand for visually appealing food products, growing consumer awareness about food safety and natural ingredients, expansion of food and beverage industry, and technological advancements in food color production.
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In 2019, the global food colorants sales were valued at around US$ 2.85 billion, and the market is expected to grow at a CAGR of around 5.0% during the forecast period. There is a growing awareness among consumers about food safety and the use of natural ingredients in food products. Several consumers prefer food which is free from synthetic food colors. Lake food colors as an attractive option for food manufacturers looking to meet consumer demand for natural and safe food ingredients. This is expected to influence the growth of lake food colors in the forthcoming years.
| Report Attributes | Details |
| Value Projection (2033) | US$ 531.8 million |
| Growth Rate (2023-2033) | 6.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
The food and beverage industry is continuously expanding, driven by changing consumer preferences, increased urbanization, and growing population. For instance, the global food and beverages sales grew from US$ 6.7 trillion in 2022 to US$ 7.2 trillion in 2023 at a compound annual growth rate (CAGR) of 7.3%. As the food and beverage industry expands, the demand for food colors, in various end-use applications such as bakery & confectionery, dairy, meat products, seafood, beverages and cosmetics, are also expected to rise. This influences the growth of lake food colors market in the future.
Competitive Analysis:
Key players in the market are:-
- Alliance Organics LLP,
- Sensient Technologies Corporation,
- Naturex,
- DDW,
- NACTAROME S.P.A.,
- LycoRed,
- Kalsec Inc.,
- Horizon Specialities ltd.,
- BIOCONCOLORS,
- Sunfoodtech,
- EMCO Dyestuff,
- Vipul Organics Ltd.,
- Chromatech Incorporated.
A few of the recent developments in the Lake Food Colors Market are:
- In March 2019, Naturex announced their brand-new line of spirulina extraction products. The newly introduced line triples the capacity of spirulina production. This increase in naturex’s production capacity was designed to address the rising demand for clean label blues and greens on a global scale.
- In September 2020, Phytolon, an Israel based startup company, has received US$ 4.1 million in funding for its fermentation technology, which it uses to create natural food colorings of the highest standard.
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Lake Food Colors Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Lake Food Colors Market by Type (Red Color, Yellow Color, Tartrazine Color, Other Color Types), by Form (Powder, Liquid Form), by Application (Beverages, Bakery Products, Dairy Products, Desserts, Seasonings, Pet Foods, Other Applications) by Region (North America, Latin America, Europe, Asia- Pacific, Middle East and Africa) – 2023 to 2033.
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