Russia Food Colorants Market-Growth, Trends and Forecast (2020-2025)

Russia food colorants market is projected to grow at a CAGR of 3.62% during the forecast period (2020-2025).

• The Russian food sector is growing after the earlier crises in the country which made it highly dependent on food imports from other countries. However, in 2014, the regulatory body of the country banned food import, from the countries that applied economic sanctions against Russia such as the United States, with an aim to stabilize the economy of the country.
• Additionally, the ban extended through the end of 2020. The food ban is inclusive of food colorants, therefore, it ultimately hampers the market growth.
• On the other hand, the Russian food colorants market is driven by easily available raw materials which include fruits & vegetables. Growing food safety concerns in the global food markets are pressurizing manufacturing to adopt clean labels.

Key Market Trends

High Import of Food Colorants

Russia restricted the food imports from countries such as United States, Canada, Australia, and others, that applied economic sanctions against the country. Therefore, it initiated the import of food ingredients including food colorants from the neighboring countries, thus catering the market growth. Peru, Denmark, and the United Kingdom are some of the prominent exporters of natural food colorants to the Russian market. Natural colorants make up the highest part of Russian imports. Russia also imports fresh cut flowers, and food dyes from the neighboring European countries including Poland, and France to produce colorants for the application in various food and beverage products.

Beverage Application Dominates the Market

The application of food colorants is widely experienced in the beverage segment. The manufacturers are inclining towards natural colorants to be used for the production of beverage, especially in fruit juices owing to the highest concentration of health-conscious consumers in the country. Natural colorants have varied applications in functional beverages, and in order to tap into the market opportunity, the leading players such as Chr Hansen and Sensient® Colors are launching natural colors. Moreover, the market is likely to be driven by the demand for clean-label drinks, leading to the higher consumption of natural colorants thus, driving the beverage segment of the market studied.

Competitive Landscape

The Russia food colorants market is highly fragmented with the presence of numerous regional and global players. Major companies are majorly focusing on product innovation, trying to gain their position in the market. Moreover, other companies have also incorporated strategies, such as new agreements and partnerships to increase their footprint in the country and release new products according to the consumers’ changing preferences.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.