Lake Food Colors Market

Lake Food Colors Market Outlook (2023 to 2033)

Newly-released Lake food colors market analysis report by Fact.MR reveals that global sales of Lake Food Colors Market in 2022 was held at US$ 264.9 million. With 6.5% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 531.8 million by the end of the forecast period.

Powder form of lake food colors is expected to be the significant revenue-generating type in the market, projected to grow at a CAGR of over 6.4% from 2023 to 2033.

Attributes	Details
Global Lake Food Colors Market Size (2022)	US$ 264.9 million
Global Lake Food Colors Market Size at End of Forecast (2033)	US$ 531.8 million
Global Lake Food Colors Market CAGR (2023 to 2033)	6.5%
U.S. Lake Food Colors Market CAGR (2023 to 2033)	6.3%
Key Companies Covered	Alliance Organics LLP Sensient Technologies Corporation Naturex DDW NACTAROME S.P.A. LycoRed Kalsec Inc. Horizon Specialities ltd. BIOCONCOLORS Sunfoodtech EMCO Dyestuff Vipul Organics Ltd. Chromatech Incorporated

Revenue of Lake Food Colors Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the research of the lake food colors market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 8.1% CAGR. With an absolute dollar opportunity of US$ 247.8 million, the market is projected to reach a valuation of US$ 531.8 million by 2033.

What are the Key Drivers Influencing the Market Expansion?

Lake food colors are a type of food colorant derived from water-soluble dyes that are transformed into insoluble pigments through a process known as "lake formation". These pigments are then used to add color to various food and beverage products, such as candies, confectionery, baked goods, and beverages. These are typically used to create bright and vibrant hues in food products. They are commonly available in the form of powders or granules and can be easily mixed with other food ingredients to achieve the desired color.

In 2019, the food colors sales were valued at over US$ 2.1 billion and are estimated to reach US$ 3.5 billion by 2027, registering a CAGR of 12.4% during the forecast period. There is a growing awareness among consumers about food safety and the use of natural ingredients in food products.

Many consumers are seeking food products that are free from artificial ingredients, including synthetic food colors. The growing need for food colors in the various food products influences the growth of lake food colors in the forthcoming years.

In 2020, global bakery products sales were valued at around US$ 397.9 billion, and reached about US$ 416.36 billion in 2021. There is a growing consumer demand for visually appealing bakery products, which has led to increased use of food colors in the bakery industry to create visually attractive products. Natural food colors are gaining popularity due to consumer preferences for clean labels and natural ingredients in bakery products. The growing need for natural food colors is helping the growth in demand for lake food colors.

Natural food colors are used in various types of food and beverages, including bakery and confectionery, beverages, dairy and frozen products, snacks and savory, sauces and condiments, and others. For instance, in 2020, the global natural food colors were valued at around US$ 1.3 billion, and it is expected to grow at a CAGR of around 8% during the forecast period. Increasing consumer demand for clean label and natural food products drives the growth of the natural food colors market.

Region-Wise Analysis :

Which Region is projected to Offer Significant growth in the Market?

North America is a prominent shareholder in the market with a size of US$ 74.1 million in 2022. It is projected that the region will have a market worth US$ 148.9 million by 2033.

In 2020, the natural food color sales in the United States was valued at around US$ 500 million and is projected to grow at a CAGR of around 6% during the forecast period. An increase in the consumption and production of food colors, a surge in awareness among consumers about the benefits of natural food color products, and increase in application areas drive the market growth in the region.

Country-Wise Analysis :

United States Lake Food Colors Market Analysis :

The market in the United States is expected to grow to be worth US$ 128.4 million by 2033, with an absolute dollar growth of US$ 58.5 million from 2023 to 2033. The market in the United States has grown at a CAGR of 7.9% from 2018 to 2022 and is expected to grow at a CAGR of 6.3% from the year 2023 to 2033.

According to data from the U.S. Census Bureau's Annual Retail Trade Survey, bakery product sales in the United States was valued at around US$ 56.8 billion in 2018 and US$ 102.8 billion in 2020. The growing consumer demand for bakery products has led to increased use of natural food colors in the bakery industry. The growing need for natural food colors helps for the market growth in the upcoming years.

United Kingdom Lake Food Colors Market Analysis :

The market in the United Kingdom is expected to grow to be worth US$ 19.5 million by 2033, with an absolute dollar growth of US$ 8.2 million. The market in the country has grown at a CAGR of 7% from 2018 to 2022 and is expected to grow at a CAGR of 5.6% from 2023 to 2033.

According to data from the Food and Drink Federation (FDF), in 2020, the UK food and drink manufacturing industry, produced 47.7 billion kilograms of food and drink products, with an estimated turnover of US$ 113.9 billion. The retail sales value of bakery products in the United Kingdom was estimated at around US$ 13.1 billion in 2020. The food and drink industry is continuously expanding, driven by changing consumer preferences, increased urbanization, and a growing population. This influences the market growth in the upcoming years.

China Lake Food Colors Market Analysis :

In China, the market is expected to grow to be worth US$ 66.4 million with an absolute dollar growth of US$ 28.9 million. The market in China has grown at a CAGR of 7.5% from 2018 to 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2033.

China is one of the largest and fastest-growing markets for food and beverages in the world, with a large population and rising disposable incomes driving consumer demand. For instance, in 2020, food and beverage sales in China were valued at around US$ 1.8 trillion. Due to the expansion of the food and beverage industry, the demand for food colors including lake food colors in various applications such as bakery & confectionery, dairy, meat products, seafood, beverages, and cosmetics, is also expected to rise.

Japan Lake Food Colors Market Analysis :

In Japan, the market is expected to grow to be worth US$ 54.2 million with an absolute dollar growth of US$ 21 million. The market in Japan has grown at a CAGR of 6.5% from 2018 to 2022 and is expected to grow at a CAGR of 5% from 2023 to 2033.

According to data from the Japan Ministry of Finance, in 2020, the total value of food colors imported to Japan was around 745 million. The top importing countries of food colors to Japan were China, the United States, Thailand, and Indonesia. Many consumers are looking for healthy and natural food products. The growing need for food colors in various applications is expected to influence the growth of lake food colors in the upcoming years.

India Lake Food Colors Market Analysis :

The market in India is expected to grow to be worth US$ 33.2 million by 2033, with an absolute dollar growth of US$ 12.2 million. The market in India has grown at a CAGR of 6% from 2018 to 2022 and is expected to grow at a CAGR of 4.7% from 2023 to 2033.

According to the Ministry of Agriculture and Farmer's Welfare, Government of India, in 2021, the total milk production in India was around 211 million metric tons and the dairy product sales in India were valued at around US$ 83 billion. It is expected to grow at a CAGR of around 15% during the forecast period. Lake food colors are often used in dairy products to enhance their visual appeal, improve product presentation, and create an attractive appearance. The growing consumption and production of dairy products and the surging need for natural colors has been driving the market growth in India.

Category-Wise Insights

Which Form of Lake Food Colors is projected to Witness Significant Growth?

Powder form of lake food colors is projected to witness significant growth at a CAGR of 8% from 2018 to 2022 and is expected to grow at a CAGR of 6.4% from 2023 to 2033.

The powder form of lake food colors is expected to witness significant growth due to its ease of use, longer shelf life, cost-effectiveness, versatility, and increasing demand for natural and clean label food products.

Which is the top Application of Lake Food Colors?

Beverages are projected to witness the fastest growth with a CAGR of 7.8% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

Consumers are increasingly seeking visually appealing beverages with attractive colors and aesthetically pleasing. Lake food colors can be used to enhance the color of beverages, making them more attractive and appealing to consumers.

The beverage industry is projected to witness significant growth in the market, driven by increasing demand for visually appealing beverages, growing demand for natural and clean label products, innovation and product differentiation, diverse range of beverage applications, and technological advancements in food coloring techniques.

Competitive Analysis :

Key players in the market are Alliance Organics LLP, Sensient Technologies Corporation, Naturex, DDW, NACTAROME S.P.A., LycoRed, Kalsec Inc., Horizon Specialities ltd., BIOCONCOLORS, Sunfoodtech, EMCO Dyestuff, Vipul Organics Ltd., and Chromatech Incorporated.

A few of the recent developments in the Lake Food Colors Market are :

• In April 2021, a new ingredient called "Red radish food colouring" was introduced by San-Ei Gen F.F.I., Inc. to eliminate the off flavor using its unique purifying process. Both liquid and powder versions of this new colouring would be available, and it may give a yellowish-red color at low PH.
• In July 2021, the official launch of two EXBERRY coloring meals derived from spirulina and turmeric was announced by GNT Group. The introduction of these new goods will enable the company to meet the rising global demand for affordable green colors that support clean label claims.

Segmentation of the Lake Food Colors Market :

• By Color Type :

  • Red Color
  • Yellow Color
  • Tartrazine Color
  • Other Color Types

• By Form :

  • Powder
  • Liquid Form

• By Application :

  • Beverages
  • Bakery Products
  • Dairy Products
  • Desserts
  • Seasonings
  • Pet Foods
  • Other Applications

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa