Europe Food Colorants Market - Growth, Trends, and Forecast (2018 - 2023)
The Europe food colorants market is likely to register a CAGR of 3.8%, during the forecast period, 2018-2023. Regulatory support for coloring food products in EU is likely to boost the growth of the market in the years to come.
Inclination towards Clean Label Products
Consumers demand clean labels on products to know what exactly they consume and at what levels. Their interest in identifying the ingredients present in products has triggered the clean label products market. It has been seen that majority of the consumers are ready to pay more for a premium product containing naturally sourced ingredients. Growing application of food colorants in beverages industry has been one of the crucial factors that is expected to drive the market in this region. High cost of natural colorants may refrain the growth of the market in the years to come. Even though synthetic colors still account for a large share of the food colorant market in Europe, companies have been investing highly in R&D for innovation in natural colorants due to the growing global demand for clean label food products.
Natural Food Colorants to Dominate the Market
Increasing demand and consumer preference for minimally processed foods and health-promoting properties of natural colorants is expected to drive the natural color sales in the years to come. The food colorant market report is segmented by type and application. The type of colorants considered in this segment, namely natural colors, synthetic colors, and coloring foodstuff. Beverages are likely to grow at a rapid pace owing to extensive uses of food colorants. By application, the Europe food colorants market has been segmented into beverages, dairy & frozen products, bakery, meat products & seafood, confectionery, oils & fats, and others.
U.K. to grab the majority share
Europe to dominate the food colorants market by the end of forecast period (2018-2023). In the EU, food colors are regulated as food additives under a comprehensive set of regulations for food improvement agents. In UK, the rising food safety concerns are pressurizing manufacturing to adopt clean labels, which is triggering the demand for natural food colorants in Europe. Germans are becoming more sophisticated and demanding in terms of variety and quality of foods. There has been a rise in popularity of organic food products among young population especially fruits and vegetable, followed by eggs, potatoes dairy products, and bread. Majority of raw material and ingredients is imported in Russia, which is creating opportunities for key players.
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