Asia-Pacific Food Colorants Market - Growth, Trends, and Forecast (2018 - 2023)
The Asia-Pacific food colorants market is estimated to record a CAGR of 5% during 2018 - 2023. The China market for food colorants is expected to witness a CAGR of 4.5%. The China food colorants market is a key segment of the food additives market and is of two types: natural and synthetic edible pigment. The market is driven by the aesthetic appearance of food colorants.
Easy Availability of Raw Materials
The Asia-Pacific food colorant market is driven by the ease of availability of raw materials, such as fruits and vegetables. Growing food safety concerns, in the global food markets, are compelling manufacturers to adopt clean labels. A major restraint that the industry faces is the growing awareness of the ill-effects of synthetic colors. This has triggered the demand for natural colors, which are expensive when compared to synthetic colors. Increasing disposable incomes and changing lifestyles in the emerging countries are driving the demand for processed foods. In order to attract the target segment, companies tend to add food colorants to their processed food products.
Stringent food-standard regulations imposed by several regulatory bodies are driving manufacturers to pursue alternatives to natural colorants.
Synthetic Colors Hold the Highest Market Share
The market is segmented based on the type of colors added to food: synthetic and natural. Synthetic colors, currently, hold the major share, but natural colorants are the fastest growing segment in the Asia-pacific food colorant market. Natural edible pigment is extracted mainly from a variety of plants and plant tissues, animals, and micro-organisms. In China, food colorants, such as the brown pigment is obtained from hazelnut shells, yellow pigment from yellow maize, and green pigment from the low baddish fanning of Hangzhou green tea.
Increasing awareness of the harmful effects of synthetic colors and chemicals has led to the abrupt increase in the demand for natural food colors in the international food markets. As Japan and all the European countries have banned the trade of synthetic colored food products, the Asia-Pacific food colorant market is also expected to shift toward natural food colors.
China Holds a Prominent Market in the Asia-Pacific Food Colorant Market
The Asia-Pacific food colorant market is estimated to see high growth rate, mainly attributed to the rising economies and increasing consumption of processed foods. The Asia-Pacific food & beverage colorants market is dominated by Australia & New Zealand, followed by Japan and China. The regulatory body of China plans to ban 17 synthetic food colorants, on the notion that, artificial food colorants affect the health of individuals, especially children. This can restrain the market growth.
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