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Colours under pressure while naturals forge ahead
The global market for colours is currently worth $1.7bn but despite increased demand for natural colours, the market as a whole offers limited growth opportunities according to the latest research from RTS.
Consumer awareness of, and desire for, natural ingredients is driving down demand for synthetic colours and this, coupled with the shift towards colouring foodstuffs as manufacturers seek to reformulate their products, means that the colours market is will grow only slightly, forecast to reach $1.8bn by 2014.
Source : RTS Resource. Note : Excludes caramel. Industrial food ingredients only.
Opportunities
So where are the opportunities? While the market for synthetics still grow, mainly due to increased industrial food production, growth will come from natural colours with the global market forecast to reach $773m by 2014.
For more information about how demand for natural colours is affecting your market and to see how RTS can help identify growth opportunities visit www.rts-resource.com and click on contact us.