Technavio, a tech-focused market research firm, has published a new report on the global natural colorant and flavor market, which is expected to experience an impressive growth of a CAGR of almost 7% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global natural colorant and flavor market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global natural colorant and flavor market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global natural colorant and flavor market for 2015 (market share %)
|
Europe |
34% |
|
North America |
31% |
|
APAC |
24% |
|
ROW |
11% |
Source: Technavio
Natural colorant and flavor market in Europe
In 2015, Europe accounted for the largest contribution to the global natural colorant and flavor market, with a share of around 34%. The key contributors in this region are Italy, France, Germany, and the UK. The main reasons for the growth of the natural colorant and flavor market in Europe are the developed economy and availability of disposable income. These factors have led to an increase in demand and habit of consumption of packaged food in Europe.
According to Ajay Adhikari, a lead analyst at Technavio, specializing in research on bio-chemicals and bio-materials, “Strict regulations and guidelines by several food authorities are contributing to the growth of the natural colorant and flavor market in Europe. In addition, increasing new applications of natural colorants and flavors in the food and beverage industry is also supporting the growth of natural colorants and flavor market in Europe. Europe is the hub for major food manufacturing companies leading to an intense competition which has compelled the food vendors to come up with new food products with a different texture, flavors, and colors.”
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Natural colorant and flavor market in North America
North America was the second largest contributor to the global natural colorant and flavor market in 2015. Countries like Canada, the US, and Mexico are the major contributors to the market in this region for the consumption of natural colorants and flavors, with the US contributing a maximum of around 82% of the market in 2015. The food and beverage industry are developed and advanced in this region due to strong demand for packaged food products. The awareness among consumers about the harmful effects of synthetic colors and flavors is positively influencing the natural colorant and flavor market in this region. Stringent regulations and detailed guidelines are also supporting the growth and consumption of natural colorants and flavors in North America.
Natural colorant and flavor market in APAC
The key contributors to the natural colorant and flavor market in APAC are India, New Zealand, Japan, China, and Australia. The growth of market in this region is strongly affected by the economic growth in developing countries. The increase in disposable income has augmented the purchasing power of consumers, driving a sense of health consciousness among them which is fueling the growth of natural colorant and flavor market. The population is becoming more conscious about the consumption of natural ingredient food products over synthetic and artificial products. The number of packaged food products launched in the market and the increasing the amount of food manufacturing vendors are also supporting the growth of the natural colorant and flavor market in APAC. The market is at a growing stage in the APAC region and has a lot of potential and opportunities to grow during the forecast period.
Natural colorant and flavor market in ROW
Middle East, Latin America, and South Africa are the major contributors to the market in ROW. The increasing demand for packaged food product is the key factor in the growth of natural colorant and flavor market in ROW. Besides this, factors like economic development and an increase in disposable income of consumers in the region are also supporting the market to grow. Consumers are becoming more health and hygiene conscious; hence they prefer food products made with natural colorant and flavor. ROW is an emerging market for the food and beverage industry and has immense opportunities to grow, leading to an expectation of a considerable growth during the forecast period.
The top leading vendors operating in the global natural colorant and flavor market are:
- Sensient Technologies Corporation
- Chr. Hansen
- Symrise AG
- International Flavors & Fragrances
- Kerry Group Plc.
Other prominent vendors in the market include Archer Daniels Midland Company, FMC Corporation, and Givaudan.
A more detailed analysis is available in the Technavio report tilted, ‘Global Natural Colorant and Flavor Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Food Additives Market in the US 2016-2020
- Global Natural Food Colors Market 2015-2019
- Global Natural and Synthetic Food Colors Market 2015-2019
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