The Asia-Pacific food and beverages (F&B) colorants market is estimated to grow at a compound annual growth rate (CAGR) of 4.8% from 2014 to 2019, according to Research and Markets.
This market lags behind the European and North American (F&B) colorants market due to food safety scares in Asia Pacific that has made consumers more aware of synthetic colorants, as observed by various studies that state the consumption of some synthetic colorants appeared to increase hyperactivity and poor attention in children.
This awareness and knowledge of the ill-effects of synthetic colors have decreased the demand for synthetic colors and has reduced their production.
The report discussed the Asia-Pacific market on applications that include beverages, bakery, confectionery, dairy, and frozen products.
The application of food colorants in bakery and confectionery is estimated to grow at the highest CAGR from 2014 to 2019.
An in-depth analysis of the food and beverages colorants market by type such as naturals (anthocyanin, carotenoid, caramel) and synthetic (blue, green, red, yellow) has been provided in this report.
Market share by country
Australia and New Zealand are the largest food colorants market with a market share of 30.26%, followed by Japan and China.
India has the highest CAGR for the estimated period.
The availability of raw materials for food colors and increasing consumer awareness are the factors that drive the Asia-Pacific food and beverages colorants market.
FMC Corporation (US) has a major chunk in the Asia-Pacific market in terms of market share.
Other firms such as Chr. Hansen (Denmark), Naturex SA (France), and Sensient Technologies Corporation (US) compete for the growing food stabilizer colorants market in the region.
These companies are engaged in market strategies such as mergers and acquisitions, joint venture, new product development, and expansion to increase their market share in Asia-Pacific food and beverages colorants market.
