Paprika Color Market Poised to surpass US$ 76.92 Mn as Consumer Focus on Healthy Eating Reaches All-time High - Future Market Insights
The paprika color market study by Future Market insights (FMI) is intended to offer exclusive insights for market players, helping them identify growth opportunities and navigate through unforeseen challenges. It covers growth drivers and restrains influencing paprika color demand worldwide. The study also highlights growth prospects existing in key segments including nature, application and region
DUBAI, U.A.E, Oct. 7, 2021 /PRNewswire/ -- ESOMAR-certified market research firm Future Market Insights (FMI) in its latest study forecasts that the paprika color market will reach a valuation of around US$ 76.92 Mn in 2021. With increasing demand from food industries, the overall market is expected to grow at 7.0% CAGR between 2021 and 2031, surpassing a valuation of around US$ 151.5 Mn by the end of 2031.
Paprika is widely used as natural food color and flavoring agent in beverages, processed food, and tomato applications. The colorant is heat, water, and pH stable. The rising demand for natural food colors across food and beverage industry is expected to boost the sales of paprika color.
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Growing awareness among people regarding the benefits of natural food colors as well as the harmful consequences of synthetic colors has created opportunities for the expansion of the paprika color market.
Artificial food colors can cause various health problems such as allergy, chronic ailments, and other behavioral changes. As a result, consumers have developed a keen interest for food products containing natural ingredients such as paprika color.
Steered by this, paprika color has replaced their artificial counterparts in various cuisines. Besides this, application in processed meat products is expected to rise, especially across developing countries such as India.
Replacing synthetic colors with that derived from paprika not only improves the aesthetic appeal of a food item but increases its nutritional value. It is rich in antioxidants like beta carotene and zeaxanthin, vitamins, minerals and other nutrients.
Considering this, application in poultry, personal care and food & beverage industries will continue to increasing through the forecast period. According to the report, the meat, poultry, fish & eggs segment accounts for the largest share in paprika color market and is anticipated to top US$ 7.19 Mn by the end of 2021.
EMEAI (Europe Middle East and India) is expected to account for around 39.3% of the global sales in 2021. Increasing number of health-conscious people, rising use of paprika products in pet food, and expanding food and beverage industry are some of the factors driving the market in EMEAI.
"Introduction of paprika color in personal care and pharmaceuticals will accelerate growth in the market. To capitalize on existing opportunities, manufacturers are likely to focus on research initiatives and product launches," says the FMI analyst.
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Key Takeaways from Paprika Color Market Survey
- The U.S. will continue to dominate the North America market, accounting for around 85% of paprika color sales in 2021.
- With heavy intake to confectionary products, Germany is expected to account for around 18.5% of paprika color sales in EMEAI through 2031.
- Driven by the growing number of health-conscious people, the Japan paprika color market is poised to exhibit a CAGR of 5.4% between 2021 and 2031.
- In terms of nature, the conventional segment leads the paprika color market. The segment is expected to account for around 80.6% of sales in 2021.
- Based on application, the meat, poultry, fish & eggs segment accounted for 23.8% of the global paprika color market in 2021.
Key Drivers
- Soaring demand for natural food colors across food and beverage industry is driving the paprika color market.
- Increasing use of paprika color in meat processing, baby food products, pharmaceuticals, personal care products and bakery & confectionary will aid expansion of the market.
- Strict regulations imposed by various organization against the use of artificial colors will create lucrative opportunities for the growth of paprika color market
Key Restraints
- Availability of other low-cost natural colors is restraining the growth of the market.
Competitive Landscape
Key players operating in the paprika color market are focusing on expanding their product portfolio. They have adopted various organic and inorganic growth strategies such as mergers and acquisitions, new product launches, partnerships and collaborations to strengthen their global footprint.
- In April 2019, Archer Daniels Midland's (ADM) Wild Flavors and Specialty Ingredients Business Unit (WFSI) launched micronized color powders made from coloring foodstuffs and paprika extract for particularly shades of orange. The new micronized color powders are made up of particles that are much smaller than conventional color pigments.
- In May 2020, GNT Group launched two new EXBERRY coloring foods that deliver bright orange shades in powder and oil-dispersible formats. The new brilliant orange products are made from paprika and carrot and provide solutions for wide range of applications.
- In 2018, DDW "The Color House" launched an EmulsiTech cloudy paprika to its portfolio of liquid color emulsions intended specifically for beverage applications.
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Some of the prominent players operating in the paprika color market profiled by FMI are:
- Chr. Hansen Holding A/S
- Synthite Industries Ltd.
- Plant Lipids
- Ungerer & Company Unilever Food Solution
- Blue Lily Organics,
- Natural Solution,
- ColorMaker Inc.
- Bioconcolors
- Ingredients Naturales Seleccionados,
- Kalsec Natural Ingredients,
- Kancor Ingredients Limited,
- Naturex.
- Adani Pharmachem Private Limited,
- Givaudan,
- Ozone Naturals,
- Universal Oleoresins
- DDW color
More Insights on the Global Paprika Color Sales Outlook
FMI provides an unbiased analysis of paprika color market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for paprika color with a detailed segmentation on the basis of:
Nature:
- Organic
- Conventional
Application:
- Beverage
- Milk Drinks & Milk Alternatives
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Sports Drinks
- Coffee & Cocoa
- Tea
- Energy Drink
- Juice Based Drinks
- Flavored water
- Enhanced Water
- Sparkling Waters
- Bakery, Snacks, & Cereal
- Breakfast Cereal
- Bread
- Cakes & Pastries
- Cookies
- Biscuits & Cones
- Frosting / Icing
- Crackers & Savoury Snacks
- Candy / Confectionery
- Panned Candy
- Chocolate & Compound Coating
- Gummies
- Chewing Gum
- Jellies & Licorice
- Sprinkles & Sugar
- Hard Candies / Boiled Sweets
- Dairy
- Cheese
- Ice Cream
- Milk Drinks & Milk Alternatives
- Pudding / Custard
- Dips & Spreads
- Yogurt
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Casings
- Egg & Egg Substitute
- Fish / Seafood
- Jerky
- Meat Substitute
- Processed Meat & Poultry
- Potatoes, Pasta, & Rice
- Pasta
- Potato Chips / Crisps
- Processed Potatoes
- Rice
- Sauces, Soups, & Dressings
- Asian Sauces
- Barbecue & Steak Sauce
- Condiments
- Gravy / Dry Sauce Mix
- Marinade
- Oils & Dressings
- Seasonings
- Batter
- Breading and Coating
- Bouillon / Soup Base / Stock
- Liquid Smoke
- Spice Blends / Dry Seasonings
- Pet Food
- Extruded / Dry Pet Food
- Snacks / Treats
- Wet Food
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Region:
- North America
- Latin America
- EMEAI
- Asia Pacific
Key Questions Covered in the Paprika Color Sales Outlook Report
- The report offers insight into paprika color demand outlook for 2021-2031
- The market study also highlights projected sales growth for paprika color market between 2021 and 2031
- Paprika color market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Paprika color market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centres in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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