Lucintel's latest market report analyzed that synthetic food colorant provides attractive opportunities in the dairy food, non-dairy food, CSD & non-alcoholic beverage, and alcoholic beverage markets. The synthetic food colorant market is expected to reach $1.0 billion by 2028 with a CAGR of 7%. In this market, liquid is the largest segment by form, whereas Carbonated soft drinks and non-alcoholic beverages is largest by application.

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Based on form, the synthetic food colorant market is segmented into liquid, powder and gel. The liquid segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its wider application in the food and beverage industry as it helps in improving viscosity, texture, product stability, shelf life, taste, and better visual aspect as compared to other forms.

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The Synthetic Food Colorant Market is marked by the presence of several big and small players. Some of the prominent players offering synthetic food colorant include Archer-Daniels-Midland, AromataGroup, BASF, Cargill Incorporated, Döhler, Vinayak Ingredients, Kalsec, Koninklijke DSM, LycoRed, San-Ei Gen F.F.I., and Symrise AG.

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