Market Size of Mexico Food Colorants Industry
| 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.
