Lake Food Colors Market
Lake Food Colors Market Forecasts to 2030 - Global Analysis By Color Type (Yellow Color, Tartrazine Color, Red Color and Other Color Types), Form (Liquid and Powder), Application (Pet Foods, Seasonings, Desserts, Dairy Products, Bakery Products, Beverages and Other Applications) and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $280.6 BN |
|
Projected Year Value (2030) |
US $496.7 BN |
|
CAGR (2023 - 2030) |
8.5% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Lake Food Colors Market is accounted for $280.6 million in 2023 and is expected to reach $496.7 billion by 2030 growing at a CAGR of 8.5% during the forecast period. The Lake Food Colors Market refers to the global industry dedicated to the production and distribution of lake food colors, which are synthetic dyes primarily used in the food and beverage sector to impart vibrant and stable colors to various products. Lake food colors are preferred due to their high stability, solubility, and resistance to fading, making them suitable for a variety of applications. These colors are derived from water-insoluble pigments and are dispersed onto a substrate, creating a suspension known as a ""lake."" One of the primary uses of lake food colors is in confectionery items such as candies, chocolates, and chewing gums, where they enhance the visual appeal and attractiveness of the products.
According to a Ministry of Electronic and Information Technology of India, the global consumption of packed beverages in China was amounted to around 269 billion liters in 2022, and the number is projected to reach over 303 billion liters by 2025.
Market Dynamics:
Driver:
Increasing demand for processed foods
Processed foods rely heavily on food coloring agents to enhance their visual appeal, thereby attracting consumers. Lake food colors, derived from water-insoluble pigments, offer vibrant hues and stability in various food products, including confectionery, beverages, snacks, and bakery items. As consumers seek diverse and visually appealing food options, food manufacturers are increasingly turning to lake food colors to meet these preferences. Moreover, the rise in disposable incomes and changing lifestyles have spurred the demand for convenience foods, further fueling the market growth for lake food colors.
Restraint:
Price volatility
Price volatility poses a significant hindrance to the Lake Food Colors Market due to its impact on production costs and market stability. Lake food colors, derived from water-insoluble dyes, are extensively used in the food industry for coloring purposes. Fluctuating prices of raw materials, such as coal tar, petroleum, or natural sources like fruits and vegetables, directly influence the manufacturing costs of these dyes. However, uncertainties in global supply chains and geopolitical tensions can lead to sudden spikes or drops in prices, making it challenging for manufacturers to predict costs accurately.
Opportunity:
Rising demand for plant-based and vegan products
As consumers increasingly seek alternatives to traditional food ingredients derived from animal sources, there has been a surge in the demand for natural colorants sourced from plants. Lake food colors, which are insoluble pigments used to impart vibrant hues to various food and beverage products, are benefitting from this trend. Additionally, plant-based and vegan food products often require natural and non-animal-derived color additives to maintain their appeal to health-conscious and ethically-minded consumers.
Threat:
Shift towards natural alternatives
Natural alternatives, derived from sources like fruits, vegetables, and plants, are increasingly favored by consumers seeking cleaner labels and healthier options. Consequently, synthetic food colors, including lake food colors, face declining demand as consumers perceive them as artificial and potentially harmful. However, stringent regulations in various regions restrict the use of synthetic food colors, further challenging market growth. The shift towards natural alternatives requires significant reformulation efforts and investments from manufacturers to adapt their products to meet consumer demands and regulatory standards.
Covid-19 Impact:
With lockdowns and restrictions disrupting supply chains and causing economic uncertainty, the demand for Lake food colors, primarily used in the food and beverage industry, experienced fluctuations. During the initial phases of the pandemic, panic buying led to a surge in demand for essential food items, including products containing food colors. However, as the pandemic persisted and consumer behavior adapted to new norms, there was a shift towards more essential purchases, resulting in a slowdown in the demand for non-essential items like food colors.
The Tartrazine Color segment is expected to be the largest during the forecast period
Tartrazine Color segment is expected to be the largest during the forecast period. Tartrazine, also known as E102, is a synthetic lemon-yellow dye used in various food and beverage products. Its vibrant color, stability, and versatility make it a popular choice among food manufacturers for enhancing the visual appeal of their products. In the Lake Food Colors Market, Tartrazine serves as a key ingredient for producing lake colors, which are highly concentrated, water-insoluble pigments widely used in confectionery, bakery, dairy, and beverage industries. Its affordability and compatibility with a wide range of food applications make it a preferred choice for manufacturers looking to achieve consistent and vibrant coloration in their products.
The Pet Foods segment is expected to have the highest CAGR during the forecast period
Pet Foods segment is expected to have the highest CAGR during the forecast period. As pet owners increasingly prioritize the health and well-being of their furry companions, there's a growing preference for natural ingredients, including colorants sourced from plants such as beetroot, turmeric, and spirulina. These natural colorants not only add visual appeal to pet foods but also convey a sense of quality and healthfulness. Additionally, with the rise of premium and specialty pet foods catering to specific dietary needs and preferences, there's a corresponding need for a diverse range of vibrant colors to differentiate products on store shelves.
Region with largest share:
North America region is expected to hold the largest share over the extrapolated period. The growth of the regional market can be primarily attributed to the hectic lifestyles of consumers, which have driven the demand for and consumption of ready-to-eat and convenience food products. Additionally, the ongoing growth of e-commerce and online retailing channels has facilitated consumers' access to a wider range of food products, including Lake Food Colors. A significant emphasis on sustainability and the region's well-established processed food sector have led to a rise in the adoption of natural and sustainable food coloring.
Region with highest CAGR:
Asia Pacific region is poised to hold lucrative growth over the projection period. With increased focus on food safety and quality standards, regulatory bodies are imposing stricter guidelines on the use of synthetic food colors, which often contain harmful chemicals. There's a growing demand for natural and safer alternatives like lake food colors, derived from natural sources such as plants, fruits and vegetables. These colors in the region offer vibrant hues without compromising on safety. Moreover, government initiatives promoting clean label products and organic food consumption further boost the market for lake food colors.
Key players in the market
Some of the key players in Lake Food Colors market include Alliance Organics LLP, EMCO Dyestuff, Horizon Specialities ltd., Kalsec Inc., LycoRed, NACTAROME S.P.A., Sensient Technologies Corporation, Sunfoodtech and Vipul Organics Ltd.
Key Developments:
In July 2023, Cargill and John Deere announced a collaborative effort to streamline the digital and in-field experience for farmers using John Deere technology and electing to participate in the Cargill RegenConnect® program.
In June 2023, Avient Corporation and BASF joined forces to provide coloured variations of Ultrason® high-performance polymers to the global market. These coloured grades incorporate BASF’s top-notch Ultrason® polyarylethersulfones (PAES) as the base polymer, enhanced with Avient’s Colorant Chromatics™ high-temperature Color formulation expertise.
In September 2022, Sun Chemical, announced the launch of its SUNFOODS Natural Colorants, meeting the needs for various standard & custom colours that could be applied to wide range of food & beverage products.
Color Types Covered:
• Yellow Color
• Tartrazine Color
• Red Color
• Other Color Types
Forms Covered:
• Liquid
• Powder
Applications Covered:
• Pet Foods
• Seasonings
• Desserts
• Dairy Products
• Bakery Products
• Beverages
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Lake Food Colors Market, By Color Type
5.1 Introduction
5.2 Yellow Color
5.3 Tartrazine Color
5.4 Red Color
5.5 Other Color Types
6 Global Lake Food Colors Market, By Form
6.1 Introduction
6.2 Liquid
6.3 Powder
7 Global Lake Food Colors Market, By Application
7.1 Introduction
7.2 Pet Foods
7.3 Seasonings
7.4 Desserts
7.5 Dairy Products
7.6 Bakery Products
7.7 Beverages
7.8 Other Applications
8 Global Lake Food Colors Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Alliance Organics LLP
10.2 EMCO Dyestuff
10.3 Horizon Specialities ltd.
10.4 Kalsec Inc.
10.5 LycoRed
10.6 NACTAROME S.P.A.
10.7 Sensient Technologies Corporation
10.8 Sunfoodtech
10.9 Vipul Organics Ltd
List of Tables
1 Global Lake Food Colors Market Outlook, By Region (2021-2030) ($MN)
2 Global Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
3 Global Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
4 Global Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
5 Global Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
6 Global Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
7 Global Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
8 Global Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
9 Global Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
10 Global Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
11 Global Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
12 Global Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
13 Global Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
14 Global Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
15 Global Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
16 Global Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
17 Global Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
18 North America Lake Food Colors Market Outlook, By Country (2021-2030) ($MN)
19 North America Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
20 North America Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
21 North America Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
22 North America Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
23 North America Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
24 North America Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
25 North America Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
26 North America Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
27 North America Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
28 North America Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
29 North America Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
30 North America Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
31 North America Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
32 North America Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
33 North America Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
34 North America Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
35 Europe Lake Food Colors Market Outlook, By Country (2021-2030) ($MN)
36 Europe Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
37 Europe Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
38 Europe Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
39 Europe Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
40 Europe Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
41 Europe Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
42 Europe Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
43 Europe Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
44 Europe Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
45 Europe Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
46 Europe Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
47 Europe Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
48 Europe Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
49 Europe Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
50 Europe Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
51 Europe Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
52 Asia Pacific Lake Food Colors Market Outlook, By Country (2021-2030) ($MN)
53 Asia Pacific Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
54 Asia Pacific Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
55 Asia Pacific Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
56 Asia Pacific Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
57 Asia Pacific Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
58 Asia Pacific Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
59 Asia Pacific Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
60 Asia Pacific Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
61 Asia Pacific Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
62 Asia Pacific Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
63 Asia Pacific Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
64 Asia Pacific Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
65 Asia Pacific Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
66 Asia Pacific Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
67 Asia Pacific Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
68 Asia Pacific Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
69 South America Lake Food Colors Market Outlook, By Country (2021-2030) ($MN)
70 South America Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
71 South America Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
72 South America Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
73 South America Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
74 South America Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
75 South America Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
76 South America Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
77 South America Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
78 South America Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
79 South America Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
80 South America Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
81 South America Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
82 South America Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
83 South America Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
84 South America Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
85 South America Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
86 Middle East & Africa Lake Food Colors Market Outlook, By Country (2021-2030) ($MN)
87 Middle East & Africa Lake Food Colors Market Outlook, By Color Type (2021-2030) ($MN)
88 Middle East & Africa Lake Food Colors Market Outlook, By Yellow Color (2021-2030) ($MN)
89 Middle East & Africa Lake Food Colors Market Outlook, By Tartrazine Color (2021-2030) ($MN)
90 Middle East & Africa Lake Food Colors Market Outlook, By Red Color (2021-2030) ($MN)
91 Middle East & Africa Lake Food Colors Market Outlook, By Other Color Types (2021-2030) ($MN)
92 Middle East & Africa Lake Food Colors Market Outlook, By Form (2021-2030) ($MN)
93 Middle East & Africa Lake Food Colors Market Outlook, By Liquid (2021-2030) ($MN)
94 Middle East & Africa Lake Food Colors Market Outlook, By Powder (2021-2030) ($MN)
95 Middle East & Africa Lake Food Colors Market Outlook, By Application (2021-2030) ($MN)
96 Middle East & Africa Lake Food Colors Market Outlook, By Pet Foods (2021-2030) ($MN)
97 Middle East & Africa Lake Food Colors Market Outlook, By Seasonings (2021-2030) ($MN)
98 Middle East & Africa Lake Food Colors Market Outlook, By Desserts (2021-2030) ($MN)
99 Middle East & Africa Lake Food Colors Market Outlook, By Dairy Products (2021-2030) ($MN)
100 Middle East & Africa Lake Food Colors Market Outlook, By Bakery Products (2021-2030) ($MN)
101 Middle East & Africa Lake Food Colors Market Outlook, By Beverages (2021-2030) ($MN)
102 Middle East & Africa Lake Food Colors Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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