According to Future Market Insights (FMI) sales of paprika color will increase consistently to surpass US$76.92 Mn in 2021. Demand for paprika color is expected to grow at a 7.0% CAGR over the assessment period, from 2021 to 2031.
Paprika color application is poised to surge in the food industry, especially in meat products, salad dressings, confectionery, vegetable oils, soups, seasoning, sauces, bakery products, canned foods, and snacks.
The rising demand for natural food colors will positive impact sales of paprika color worldwide. Paprika color is either conventional or organic in terms of nature. As per the report, conventional paprika is expected to dominate the global market in 2021 with a market share of 80.6%.
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Key Takeaways from the Paprika Color Study:
- The EMEAI (Europe Middle East Africa and India) is key in market in terms of size and is expected to account for 39.3 % of the global paprika color market in 2021.
- On the basis of application meat, poultry, fish, & eggs section is expected to hold for 23.8% of the global paprika color market in 2021 and expected to grow at compound annual growth of 12.2%, followed by Potatoes, Pasta, & Rice.
- The U.S. is expected to account for over 85% of paprika color sales in North America in 2021. Irrespective of United States’ dominance, demand in Mexico and Canada is expected to rise at a higher pace.
- Germany is expected to account for 18.5% of paprika color sales in EMEAI through 2031.
- China will continue dominating sales in APAC, however, demand for paprika color is expected to increase at a higher pace in South Korea.
“Increasing use of paprika color in meat processing and a plethora of beverages such as juices and drinks are likely to boost sales of paprika color. Besides this, the market is expected to gain from increasing use of paprika color in hair care and personal,” Said a lead analyst at FMI
Various End Uses in Food Processing to Boost Market
The paprika color market is flourishing on account of increasing application in the food processing industry, rising awareness about health advantages of natural coloring agents over the substitute one, and growing demand within the specialty foodstuff and prepared to eat dishes.
Paprika color market is additionally gaining on account of nutritional profile of paprika that includes impressive anti-bacterial, anti-fungal, and anti-oxidant properties. This has fuelled its application in food, pharmaceutical and cosmetic industries. Within skincare and cosmetics industry, paprika color is used in a slew of hair care and skin care merchandise.
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Who is Winning?
Some of the leading companies offering paprika color are Blue Lily Organics, Natural Solution, ColorMaker Inc., Bioconcolors, Chr. Hansen Holding A/S, Synthite Industries Ltd., Plant Lipids, Ungerer & Company Unilever Food Solution, Chr. Hansen A/S, Sensient Technologies Corporation, Ingredients Naturales Seleccionados, Kalsec Natural Ingredients, Kancor Ingredients Limited, Naturex, Adani Pharmachem Private Limited, Givaudan, Ozone Naturals, Universal Oleoresins and others.
Paprika Color Market by Category
- Milk Drinks & Milk Alternatives
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Sports Drinks
- Coffee & Cocoa
- Energy Drink
- Juice Based Drinks
- Flavored water
- Enhanced Water
- Sparkling Waters
- Bakery, Snacks, & Cereal
- Breakfast Cereal
- Cakes & Pastries
- Biscuits & Cones
- Frosting / Icing
- Crackers & Savoury Snacks
- Candy / Confectionery
- Panned Candy
- Chocolate & Compound Coating
- Chewing Gum
- Jellies & Licorice
- Sprinkles & Sugar
- Hard Candies / Boiled Sweets
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- Ice Cream
- Milk Drinks & Milk Alternatives
- Pudding / Custard
- Dips & Spreads
- Fruit Preparations / Fillings
- Meat, Poultry, Fish, & Eggs
- Egg & Egg Substitute
- Fish / Seafood
- Meat Substitute
- Processed Meat & Poultry
- Potatoes, Pasta, & Rice
- Potato Chips / Crisps
- Processed Potatoes
- Sauces, Soups, & Dressings
- Asian Sauces
- Barbecue & Steak Sauce
- Gravy / Dry Sauce Mix
- Oils & Dressings
- Breading and Coating
- Bouillon / Soup Base / Stock
- Liquid Smoke
- Spice Blends / Dry Seasonings
- Pet Food
- Extruded / Dry Pet Food
- Snacks / Treats
- Wet Food
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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