The scope of our recent study, titled "Natural Food Colors Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Carmine, Anthocyanins, Caramel, Curcumin, Annatto, Carotenoids, Chlorophyll, and Others), Form (Liquid & Gel and Powder), Application (Bakery and Confectionery, Dairy and Frozen Desserts, Beverages, Sauces; Dressings; and Condiments, RTC and RTE Products, Meat; Poultry; and Seafood, and Others), and Geography," consists of the factors fueling the natural food colors market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The natural food colors market is projected to reach US$ 3.17 billion by 2028 from US$ 2.10 billion in 2022. It is expected to grow at a CAGR of 7.1% during 2022-2028.

The market is witnessing high demand due to increasing consumer awareness about the harmful side effects of synthetic food colors. As people have started adopting healthy eating habits, the demand for natural food colors is surging. Natural food colors are healthy and safe to consume, and they contain antioxidants that are highly beneficial for the human body; these factors are boosting the market growth.

Natural food color manufacturers are constantly innovating to meet endlessly evolving consumer tastes and preferences. They are launching products with enhanced colors and quality to attract many consumers. For instance, in September 2020, Chr. Hansen launched two new natural food colorings-a turmeric-based yellow and spirulina-based blue. Such products are gaining immense popularity among consumers.

Hectic schedules of people and dual working households have directed a shift toward takeaways and dine-outs. As a result, restaurateurs are striving to enhance the look of meat products to attract more diners, and for this, they use natural food colors. The busy lifestyle of people has also surged the consumption of RTE and RTC products, which is positively affecting the natural food colors market.

Based on type, the global natural food color market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. In 2021, the carotenoids segment accounted for the largest revenue share, and the anthocyanins segment is expected to account for the highest growth rate over the forecast period.

The global natural food colors market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Europe accounted for the largest share of the market. Countries in APAC, such as China and India, have the world's fastest-growing populations. The market is growing rapidly in the region, partly due to the rise in the middle-class population and increased purchasing power. Moreover, the region witnessed a rapid expansion of numerous big retail chains, which is bolstering the natural food colors market growth. The market in Asia Pacific is expected to grow at the highest CAGR over the forecast period.

Impact of COVID-19 Pandemic on Natural Food Colors Market

During the COVID-19 outbreak, the shutdown of manufacturing units and the distribution facilities, such as supermarkets and hypermarkets and convenience and specialty stores, declined the demand for bakery products, confectionery, and beverages, which, in turn, restrained the natural food colors market growth. During the initial stages of the COVID-19 pandemic, natural food colors manufacturers were forced to scale back or halt production temporarily. However, businesses gained ground as the governments of various countries eased out the previously imposed restrictions.

Moreover, many sections of the food & beverages industry, especially packaged food products, witnessed a growth in demand worldwide post-recovery. As RTE and RTC production regained pre-pandemic figures and is growing continuously, the market is expected to expand significantly during the forecast period.

The report includes the segmentation of the global natural food colors market as follows:

Based on type, the global natural food colors market is segmented into carmine, anthocyanins, caramel, curcumin, annatto, carotenoids, chlorophyll, and others. Based on form, the global natural food colors market is segmented into liquid & gel and powder. Based on application, the global natural food colors market is segmented into bakery and confectionery, dairy and frozen desserts, beverages, sauces; dressings; and condiments, RTC and RTE products, meat; poultry; and seafood, and others.

By geography, the natural food colors market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The market in Europe is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa (MEA) is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America.

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