The global food colours market size is expected to reach US$2.97 billion by 2025, according to a new report by Grand View Research. The growing demand for the product cuts across various industries such as beverages, bakery & confectionery, and dairy products, and such increasing need would likely have a positive impact on the utilization of food colours in the foreseeable future.
The demand for food colours for the production of canned products is also estimated to drive the industry growth.
Growing consumer demand for low-fat food is another factor, which is expected to supplement the market growth in near future.
Meanwhile, the rising adoption of processed food by consumers across the globe is estimated to translate into the growth in demand of the food colouring products. In addition, increasing demand for alcoholic and non-alcoholic beverages is likely to drive the market growth over the forecast period.
Higher disposable incomes and changing lifestyles due to rapid urbanization are likely to have a positive influence on the market over the forecast period, says the research firm. Ongoing product innovation, consumer preference for high-quality products, and solidification of government regulations will also likely to propel the growth in the next few years.