Mexico Food Colorants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.44 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Food Colorants Market Analysis
The Mexico food colorants market is anticipated to witness a CAGR of 3.44% during the forecast period (2020 - 2025).
- The market is driven by the easy availability of raw materials which include fruits & vegetables from which the natural colorants are extracted. The market of natural colorants is likely to foresee a good growth in the near future due to the increasing demand for natural ingredients in processed foods across the region.
- The country is well involved in trading of its products and agricultural commodities and thus an inflating global demand for food colors is an opportunity for the Mexican manufacturers to strengthen their trade, especially when the country's agriculture industry is evolving.
- With a direct influence from the United States, the country has a large number of consumers inclining towards processed foods and beverages, thus inflating the demand. The factor is also driving the market to an extent and the manufacturers have a chance to increase the production to satiate the consumer demand.
- However, an increasing awareness against the use of synthetic colors is anticipated to strain the market growth to an extent.
Mexico Food Colorants Market Trends
This section covers the major market trends shaping the Mexico Food Colorants Market according to our research experts:
Increasing Demand of Clean-label Foods is Likely to Fuel the Natural Color Market
Clean label foods have become an important part of consumer habits. The country is much more emphasizing on the use of clean-label products due to the transforming lifestyles of the local people. The health-conscious consumers in Mexico are increasingly opting for food and beverage products that claim to be free from artificial ingredients and clean-label. Thus, increasing awareness regarding the significance of clean-label will, in turn, boost the demand for natural coloring solutions in processed foods, driving the market in the near future.
Bakery is a Largest Application Segment for Food Colorants in the Country
The sales value of bakery products in the country is more than any other segment of the food industry. This is primarily due to the fondness of baked products among the locals. According to the National Institute of Statistics and Geography, Mexico, the annual value of processed food exported from Mexico in 2016 was recorded to be USD 8.44 million, which is even more than double the value in the last decade. The same organization also talks about the rise in the number of establishments involved in the preparation of bakery products and tortillas in Mexico from 119530 in 2007 to 129650 in 2017. Thus, the transforming bakery sector in the country is likely to provide growth opportunities to many food colorant manufacturers, driving the market to a considerable extent.
Mexico Food Colorants Industry Overview
The market giants have been expanding their presence in the country by signing distribution and supplying contracts with the local distributors and suppliers of the market. Such expansion is the most preferred growth strategy followed by new product developments due to the rapid industrialization in the country, which is paving a way for the big companies to grab the potential market. The major players have an upper hand in the market due to their esteemed reputations in the global market.
Mexico Food Colorants Market Leaders
Chr. Hansen Holding A/S
Sensient Colors LLC
Givaudan
Kalsec Inc.
Koninklijke DSM N.V
*Disclaimer: Major Players sorted in no particular order
Mexico Food Colorants Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables and Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Synthetic
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5.1.2 Natural
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5.2 By Application
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5.2.1 Meat and Poultry
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5.2.2 Bakery
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5.2.3 Dairy
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5.2.4 Beverages
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5.2.5 Confectionery
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5.2.6 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Position Analysis
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6.3 Company Profiles
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6.3.1 Chr. Hansen Holding A/S
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6.3.2 Koninklijke DSM N.V
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6.3.3 Sensient Colors LLC
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6.3.4 GNT Group B.V.
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6.3.5 Archer Daniels Midland Company
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6.3.6 Givaudan
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6.3.7 JJT Group
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6.3.8 Kalsec Inc.
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico Food Colorants Industry Segmentation
The Mexico food colorants market is segmented by type into synthetic and natural food colorants. The market is also diversified based on the application in meat & poultry, bakery, dairy, beverages, confectionery, and others.
| By Type | |
| Synthetic | |
| Natural |
| By Application | |
| Meat and Poultry | |
| Bakery | |
| Dairy | |
| Beverages | |
| Confectionery | |
| Others |
Mexico Food Colorants Market Research FAQs
What is the current Mexico Food Colorants Market size?
The Mexico Food Colorants Market is projected to register a CAGR of 3.44% during the forecast period (2024-2029)
Who are the key players in Mexico Food Colorants Market?
Chr. Hansen Holding A/S, Sensient Colors LLC, Givaudan, Kalsec Inc. and Koninklijke DSM N.V are the major companies operating in the Mexico Food Colorants Market.
What years does this Mexico Food Colorants Market cover?
The report covers the Mexico Food Colorants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Food Colorants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Food Colorants Industry Report
Statistics for the 2024 Mexico Food Colorants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Food Colorants analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
