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Coloring Foodstuffs Market to Garner US$ 922.3 Mn by 2031 at 4.2% CAGR, Says FMI
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The coloring foodstuffs market is set to reach $922.3 Mn by 2031, driven by the demand for natural, plant-based ingredients and the rise of veganism.
global coloring foodstuffs market is estimated to reach US$ 613.5 Mn in 2021. Increasing demand for convenience and ready-to-eat food products with a traditional and exotic taste is augmenting the growth in the market.
Growing trend of veganism is being witnessed across the U.S., Australia, the U.K., India, and others. Citing this trend, customers are increasingly adopting clean-label food products made using plant-based ingredients. In response to this, the coloring foodstuffs market is projected to surpass US$ 922.3 Bn by the end of 2031.
As coloring foodstuffs are derived from fruits, vegetables, and herbs, they are gaining immense popularity in the production of beverages, confectioneries, dressings, and others. On account of this, sales in the market are projected to rise at 4.2% CAGR through 2031.
With growing prevalence of lifestyle-related disorders and rising health concerns across the globe, consumers are limiting the consumption of food products that contain artificial ingredients, synthetic additives, and chemicals.
They are shifting their preference on consuming natural and organic food products to maintain a healthy lifestyle. This is expected to surge the demand for coloring foodstuffs at a rapid pace.
In terms of extract type, the fruits and vegetable segment is anticipated to cumulatively account for the largest share in the market between 2021 and 2031. Attributes driving the growth in segments are high content of antioxidants, vitamins, and other beneficial nutrients present in coloring foodstuffs sourced from fruits & vegetables.
“Key manufacturers are emphasizing on developing more attractive flavors and extracts to address the surging demand for high-quality natural ingredients from artisan bakeries. This is expected to bode well for the growth in the market,” says a FMI analyst.
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Competitive Landscape
Key players in the global coloring ṇfoodstuffs market are focusing on launching novel product to expand their product portfolio and gain competitive edge. Some of the companies are adopting strategies such as new facility development, agreements, merges, and acquisitions to increase their production capacity. For instance,.
Some of the key players operating in the market profiled by FMI are:
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More Valuable Insights on Coloring Foodstuffs Market
The latest report by FMI provides a detailed analysis of the global coloring foodstuffs market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in coloring foodstuffs market with detailed segmentation:
By Form:
By Extract Type:
By End Use:
By Region:
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growth of the coloring foodstuffs market, projected to reach $922.3 Mn by 2031.
How is veganism influencing the market? The rise of veganism is driving demand for plant-based, clean-label products.
What are key market drivers? Increasing health concerns and demand for natural ingredients are key drivers.
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