According to a new report published by Allied Market Research, titled, Colorants Market by Type and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global colorant market was valued at $41 billion in 2016, and is projected to reach at $64 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023.
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Ingredients or
combination of ingredients used to offer the required appearance to any
products, such as clothes, paper, and beverages are termed as colorants. The
most widely used colorants are dyes and pigments. Dyes are water soluble and
are available naturally or are processed synthetically. Natural dyes are
obtained from flora, fauna, and minerals. These are used in packaging, building
& construction, automotive, textiles, paper & printing, and others.
Rise in the plastic,
paints & coatings, and cosmetics industry in the emerging economies such
as, India, Brazil, UAE, Saudi Arabia, and Africa. Moreover, the increased
consumer spending on packaged food boost the market growth. In addition, the
ever-growing technological advancements and easy availability of dyes from
plants and animals support the growth. However, the market growth for colorant
is restricted by the ban on the usage of artificial colorants. Technological
advancements offer food colorant manufacturers numerous growth opportunity.
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In 2016, the packaging
segment accounted for the highest share, and is expected to maintain its
dominance during the forecast period, owing to the increased consumption of
packaged food & beverages in almost all the regions.
Key Findings of the
Colorants Market:
- Asia-Pacific
was the leading region in the global colorants market in 2016, followed by
Europe
- The
pigment segment generated the highest revenue in 2016, and is projected to
grow at a CAGR of 7.2% during the forecast period
- The
packaging segment dominated the global market accounting for approximately
one-third share in 2016
- The
Asia-Pacific food colors market is anticipated to register the highest
CAGR of 7.2%, followed by LAMEA
- North
America accounted for approximately one-fifth share in the global market,
and is expected to grow at a CAGR of 5.9%.
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Asia-Pacific and
Europe collectively contributed about 5% share of the global market in 2016
owing to the increased consumption of colorant from packaging, textile, and
paper & printing industry. The key players operating in the global food
colors market are BASF SE, Sun Chemical Corporation, Clariant AG, Polyone
Corporation, E. I. Du Pont De Nemours and Company, Lanxess, Huntsman
Corporation, Dystar, DIC Corporation, and Cabot Corporation.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service
market research and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market Research provides global enterprises as well as
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Reports" and "Business Intelligence Solutions." AMR has a
targeted view to provide business insights and consulting to assist its clients
to make strategic business decisions and achieve sustainable growth in their
respective market domains. AMR offers its services across 11 industry verticals
including Life Sciences, Consumer Goods, Materials & Chemicals,
Construction & Manufacturing, Food & Beverages, Energy & Power,
Semiconductor & Electronics, Automotive & Transportation, ICT &
Media, Aerospace & Defense, and BFSI.
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various companies and this helps us in digging out market data that helps us
generate accurate research data tables and confirms utmost accuracy in our
market forecasting. Each and every data presented in the reports published by
us is extracted through primary interviews with top officials from leading
companies of domain concerned. Our secondary data procurement methodology
includes deep online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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