Curcumin pigments find their application in food as well as
personal care industrial products. The curcumin
food color market is expected to reach a valuation of nearly USD
323 mn by the year 2032, pacing with a CAGR of 10.3% between
2022-2032.
Sales of curcumin food color are accounted for ~5.9% of the
sales in the global natural food colors market which was valued at US$
1.6 Bn in 2021.
Due to the growing demand for the products from the
industries that manufacture alcoholic and non-alcoholic drinks, the curcumin
food color sector is anticipated to have significant expansion. Additionally,
over the course of the projection period, demand for curcumin food color is
anticipated to be supported by expanding consumer awareness in North America
and Asia Pacific, as well as growing desire for food colours obtained from non-synthetic
sources.
Augmenting consumer preference for natural and organic
personal care and food products is expected to spur demand for curcumin food
color in the forthcoming years. Rising awareness about the benefits of organic
ingredients is compelling manufacturers to use different types of natural
ingredients found in consumables, packaged, and processed foods. This is
changing the curcumin food color market outlook.
The harmful side effect to allergic people from the toxic
ingredients in synthetic food colors is compelling consumers to opt for greener
products. Furthermore, consumers are becoming more informed about the benefits
of using organic and natural ingredients like curcumin through various social
media platforms.
Due to the growing need for non-synthetic alternatives like
curcumin food color in the creation of pastries, muffins, and cupcakes, the
market for the product in the bakery application is anticipated to experience
significant rise. Additionally, it is anticipated that the adoption of curcumin
food color in frosting and icing will support market expansion and economic prosperity.
Key Takeaways from Market Study
- The
curcumin food color market is anticipated to grow at a rate of 9.2% on
American continents. The US curcumin market contributes over 37% of the
global Curcumin food colors market.
- The
European curcumin food color market is currently pegged at
approximately 525 metric tons by volume and USD
25 mn by value. The demand for curcumin food color is about to
grow at 9% CAGR between 2022 and 2032 in this region.
- The
Asia-Pacific region is poised to be the fastest-growing curcumin food
color market owing to the already huge beverage sector present in South
Asia and the augmenting demand for natural colorant food and beverage and
personal care products.
- The
beverages industry commands the highest curcumin food color market share
of 25%, followed by the bakery, snacks, and cereals segment and then the
dairy industry. It is used as a coloring agent in cakes, cookies, and
bakes and in dairy products like ice creams, butter bars, cheeses, yogurt,
etc.
- When
compared to synthetic colorants, curcumins have lesser stability and
poorer solubility which is a major restraining factor for the curcumin
food color market expansion.
- Growing
consumer preference for organic, healthy, and nutritious plant-derived
food products is the main driver for sales of curcumin food color.
- Urbanization
and government policies that encourage the use of natural food colors
across industries are expected to fuel the curcumin food color even
further.
“Curcumin food colorant manufacturers should
consistently innovate and adopt creative strategies to scale in an already
booming market dominated by numerous regional players. Manufacturers should
also strive to make plant-based food colors like curcumin more appealing to
food processing industries by enhancing their solubility and
miscibility,” says a Future Market Insights analyst.
Competitive Landscape
Curcumin food color market players are participating in the
various strategic alliances with leading food brands around the world to
increase the reach of their products.
Some of the leading curcumin food color market players are
WackerChemie AG, Chr. Hansen Holding A/S, BioMax Life Sciences, Hebei Tianxu
Biotech Co., Ltd, JIAHERB, INC., Synthite Industries Ltd, BioThrive Sciences,
Herboveda India Pvt. Ltd Kalsec Inc, Sensient Technology Corporation, Symrise
A.G., Archer Daniels Midlands Co., Naturex S.A., DDW.
Hence, the curcumin food color market is deemed to be
globally consolidated and regionally fragmented.
Read More: https://www.futuremarketinsights.com/reports/curcumin-food-color-market