The food colors market is one of the segments of the global food additives market. Food Colors are used by the food and beverages industry to improve the color of the food which is lost while food processing. Global food colors market is projected to reach USD 3.2 billion by 2023; registering a CAGR of 4.6%. The Argentina market for food colorants is estimated to reach USD 0.06 billion by 2023 at a growing CAGR of 4.1% for the period 2018-2023.

Market Dynamics

The Argentina food colors market is driven by easily available raw materials, which includes fruits & vegetables. Growing food safety concerns in the food markets are pressurizing manufacturing to adopt clean labels. The major restraint the industry faces is the growing awareness on the ill effects of synthetic colors. This has triggered the demand for natural colors, which have high costs when compared to synthetic colors. The increasing disposable incomes, changing lifestyles in emerging countries are driving demand for processed foods. And to attract the larger target segment, companies tend to add food colorants. The stringent food standards regulations by FDA and several regulatory bodies is proving to be a constraint for manufactures, thus forcing them to look at alternatives in the form of innovations in the natural colorants.

Market Segmentation

The Argentina food colorants market is segmented based on types, which include synthetic and natural colors. Synthetic colors currently hold a major share, but natural colorants are the fastest growing segment. The major applications of food colorants in Argentina are in bakery, dairy & frozen products, beverages, meat, and poultry products, among others. In South America, beverages take up the largest share.

Key Developments

• February 2018: Sensient Technologies, announced that it has reached a definitive agreement to acquire the natural color business of GlobeNatural, a leading natural food and ingredient company based in Lima.

Competitive Landscape

Major Players: Chr Hansen holdings, D.D. Williamson & Co., Royal DSM, Sensient technologies, FMC Corp, Dohler group, Naturex SA, Fiorio Colori S.P.A., Kalsec Inc, kancor Ingredients, Univar, BASF, and Riken Vitamin, among others. To gain market share, these companies are adapting numerous market strategies like innovative product development, partnerships, mergers & acquisitions, and expansion of existing facilities.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s 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 and quantitative research incorporating the impact of economic and 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
• 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

• Value chain analysis
• Consumer behavior analysis in country level