LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Synthetic Food Colors Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of synthetic food colors and acts as an all-inclusive guide for making smart purchasing decisions.
“The growth of the pharmaceutical industry due to increasing affordability of consumers, primarily in emerging markets, is anticipated to drive the global demand for synthetic food colors,” says SpendEdge procurement analyst Tridib Bora. “To meet the growing demand the suppliers of synthetic food colors are increasingly upgrading their scale of manufacturing and operations,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Synthetic Food Colors Market:
- Increasing consumer preference for clean-label products in food and beverage industry
- Rising adoption of multi-color concoctions in processed foods
- Growing demand for food traceability among buyers
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Increasing consumer preference for clean-label products in food and beverage industry:
Several food and beverage products are increasingly being subjected to evolving customer health concerns and lifestyle changes. The customer’s preference for clean-label products has also increased, and they are now demanding detailed information on the sourcing, processing, and application of synthetic food colors in food and beverage products before making purchase decisions. Clean label can be defined as the formulation of a product to remove artificial additives, preservatives, stabilizers, and thickeners. Moreover, the growing popularity of this trend has resulted in a decline in the use of synthetic food colors and increase in the adoption of natural colors.
Rising adoption of multi-color concoctions in processed foods:
In the processed foods sector, there is a rise in the adoption of multi-color concoctions. Innovations in synthetic food colors in the food industry have resulted in colorful concoctions such as rainbow bagels and unicorn lattes in food products. Moreover, the increasing use of imagery in social media platforms such as Instagram has fuelled the consumer’s demand for foods that look attractive. Also, this has increased the supplier’s focus on offering such products.
Growing demand for food traceability among buyers:
There is a rise in the global trading of food items, which, in turn, has resulted in an increase in the number of mandatory regulations on traceability throughout the supply chain. The growing demand for food traceability helps the buyers in better understanding the production processes leading to high-quality food products. Moreover, such mandatory regulations on traceability mainly focus on preventing foodborne illnesses.
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