The South America food colorants market is likely to register a CAGR of 3.9%, during the forecast period, 2018-2023. South America is expected to grow at a steady pace in food colorants market owing to its evolving processed food industry.
Growing Demand for Convenience Food
South American countries are witnessing growing urbanization and changing lifestyles due to globalization and this, in turn, is driving the demand for convenience and packaged foods. Millennial prefers convenient foods along with naturally derived ingredients, which is expected to fuel the expansion of the food colorants market in South America in the years to come. Ease of governmental regulations for food colorants will further fuel the development of the market. The derived benefits from consumption of natural ingredients are likely to drive the growth of the market. Even though synthetic food colorants are still extensively used but with recent health trends it is expected that natural food colorants would likely gain traction during the forecast period.
Growing Application in Bakery Sector
The South America food colorant market is segmented by type and application. Rise in demand of clean label products have led to the rise in the usage of natural colors in food processing industry. The type of colorants considered in this segment, namely natural colors, synthetic colors, and coloring foodstuff. Bakery products are expected to grow at a considerable pace owing to growing usage of food colorants. By application, the market has been segmented into beverages, dairy & frozen products, bakery, meat, products & seafood, confectionery, oils & fats, and others.
Brazil to dominate the market
South America has an emerging market for food colorants due to rise in usage of food colorants from countries, such as Brazil, Chile, and Argentina. An economic environment in countries, such as Brazil and Venezuela has slowed down the demand for natural colors in the market. Rise in purchasing power of consumers is one of the key factors, which is driving the growth of the food colorants market in South America. Rise in food processing sector in Brazil is expected to boost up the food colorants market. Argentinian consumers are increasingly demanding health and wellness packaged food, despite the economic crisis, which, in turn, is expected to benefit natural food colorants market in South America.
The company uses strategies, like forming new agreements and partnerships with local players to increase their foot print in the foreign country and release new products according consumers changing preferences. Certain players have been expanding their geographical presence by acquiring or merging with the manufacturers in the foreign markets.
- March 2017 - DelvoGuard additive was introduced by Royal DSM specifically target producers who are looking for clean label solutions, to reduce dairy losses, and to increase the shelf life of their products.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Key Deliverables of the study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Market Dynamics
3.4 Porters Five Forces Analyses
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Natural Colors
4.1.2 Synthetic Colors
4.1.3 Coloring Foodstuff
4.2 By Application
4.2.2 Dairy & Frozen Products
4.2.4 Meat, Poultry & Seafood
4.2.6 Oils & Fats
4.3 By Geography
4.3.3 Rest of South America
5. Competitive Landscape
5.1 Most Adopted Strategies
5.2 Most Active Companies
5.3 Market Share Analysis
6. Company Profiles
6.1 BASF SE
6.2 Chr Hansen Holdings
6.3 Dohler Group
6.4 Fiorio Colors
6.5 FMC Corporation
6.6 Kalsec Inc.
6.7 Kancor Ingredients
6.8 Naturex SA
6.9 Riken Vitamin
6.10 Royal DSM
6.11 Sensient Technologies