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(MoneyNewsWire.Net, April 04, 2018 ) The Latin America Food Colors Market was worth $310.7 million in 2016 and estimated to be growing at a CAGR of 8.77%, to reach $473 million by 2021.
Food colors are used to improve the visual observation of the eatables by giving them tempting shade and make it striking for the customers. A varied range of food colors are accessible for the consumers to use. Natural and synthetic food colors are used to retain the faded color of the product during the processing.
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Rising consumption for packed, ready-to-eat meals, confectionery and baked goods, particularly in the developing countries of Latin America is driving the use of food colors. Varying consumer preferences, increasing disposable income and high demand for easy-to-cook meals are the key drivers fuelling the growth of food color market. Better awareness towards the side-effects of synthetic colors usage has instigated a surge towards natural food colors that are observed as safe for consumption. Availability of coloring pigments is less in this region which is hampering the market growth.
Latin America Food Colors market is segmented by type into Natural colors, synthetic colors and nature-identical. Natural colors are sub-segmented into Anthocyanins, Carotenoids and Caramel. Synthetic colors are also sub divided into Red, Yellow, Blue and Green. Based on application the market is bifurcated into Beverages, Bakery and Confectionery, Dairy and Meat. On the basis of form food colors market is segregated into Liquid, Liquid Gel, Gel Paste and Powder. The market id divided among Dyes and Lakes based on solubility. The dyes segment is likely to be the biggest and fastest growing segment during the forecast period.
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Geographically the market is segmented into Mexico, Argentina and Brazil. Mexico is dominating the Latin America region market for food colors with highest number of shares.
Various companies are contributing for this market such as LycoRed, DD Williamson, Archer Daniels Midland Company (U.S.), Sethness Products, Fiorio Colori, Chr. Hansen S/A (Denmark), Roha Dyechem, Sensient Technology Corporation (U.S.), Koninklijke DSM N.V. (Netherlands), San-Ei Gen F.F.I. Inc., WILD, DSM, Naturex, Phytone, GNT Group and FMC Corporation (U.S.).
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