Growing demand within the global natural food colors and flavors market can be attributed to increasing demand from developing economies across the world. Furthermore, increasing incidence of new product launches, as well as mergers and acquisitions among the industry players is also expected to boost the growth within the global natural food colors and flavors market in near future. The key types of products offered as coloring agents by the players in the global natural food colors and flavors market include carotenoids, curcumin, annatto, lutein, spirulina, canthaxanthin, gardenia, caramel, anthocyanin, copper chlorophyllin, capsanthin, betanin, and chlorophyll. Some of the most popular flavoring agents offered by companies in the global natural food colors and flavors market are aroma extracts, micro-organisms, natural extracts, essential oils, and spices, among others.
The rising demand for clean label products from conscious consumers across the globe is one of the primary drivers for the expansion of the global natural food colors and flavors market. Clean label products are manufactured using non-GMO, minimally processed, organic, and consumer friendly materials. Apart from this, some other prominent drivers fueling growth within the market include rising demand for food and beverage products manufactured using plant-based materials, increasing demand for organic food products from growing global millennial population, and rising demand for food products infused with natural flavoring and coloring ingredients.
However, limited availability of required raw materials, as well as high cost associated with most natural ingredients may restrain growth within the global natural food colors and flavors market in coming years. Furthermore, dearth of consistency in guidelines and regulations regarding various different types of ingredients may also create challenges for the expansion of the global natural food colors and flavors market in coming years. On the other hand, increasing number of end-use applications is most likely to foster growth within the global natural food colors and flavors market in near future. Products in the global natural food colors and flavors market are slowly finding new applications in various sections of the food and beverages industry, including convenience foods, frozen and dairy based desserts, meat products, and bakery and confectionery.
Some of the incumbent manufacturers and players operational in the landscape of the global natural food colors and flavors market include Archer Daniels Midland, Kerry Group, PLC, Mane, T. Hasegawa, Robertet, Synergy Flavors, Taiyo International, Besmoke Ltd., Gulf Flavors and Food Ingredients FZCO, Takasago, DuPont, Givaudan, International Flavors & Fragrances or IFF, Sensient, Firmenich, Symrise, Amar Bio-Organics India Pvt. Ltd., The Foodie Flavors Ltd., Aromata Group, and Seluz Fragrances & Flavors Company, among others. Players working in the global natural food colors and flavors market are focusing on adopting several growth strategies, including strategic collaborations, increasing investments to enhance their product portfolio and production capabilities, and mergers and acquisitions.
South America region is most likely to emerge as the leading region in the global natural food colors and flavors market over the next few years. Some of the major drivers behind this leading industry positioning of the South America global natural food colors and flavors market include increasing regional population, growing buying capacity of regional customers, and increasing demand for functional, as well as comfort food products in the region. Furthermore, changes in eating habits amongst natives, as well as growing awareness pertaining to the benefits of consuming healthy food and beverage products is also boosting the demand within the South America natural food colors and flavors market. Apart from this, growing demand for clean label food products from regional young and millennial population is also positively affecting market growth.