Any substance that can make a substance show the color required by design is called a colorant. A colorant or color additive is a substance added to change the color of a material or surface. Colorants are used for many purposes, including printing, painting, and coloring many types of materials, such as food and plastic. The colorant acts by absorbing different amounts of light at different wavelengths (or frequencies) of the spectrum, transmitting (if translucent), or reflecting the remaining light in a straight line or a scattered manner. It can be organic or inorganic, natural or synthetic.
The global colorant market size value was USD 58.73 billion in 2019 and likely to reach USD 85.54 billion by 2027 at a CAGR of 4.69% over the forecast period, 2020-2027. The growth of the market is driven by the surge in demand for colorants in various end-use industries, including packaging, building & construction, automotive, plastics, paints, and coatings. Further, growing population, swelling disposable income, consumer spending on packaged food products, and fashionable garments are projected to drive the colorants’ market growth. Additionally, the rising demand for high-performance pigments and growing inclination toward environment-friendly products will spur the global colorants industry in the upcoming periods. Also, the edible color to increase the texture and appearance of the food products likely to augment the market expansion in future periods.
Moreover, the increasing urbanization and growing demand for innovative and appealing shades and formats in packaged products and items are likely to witness remarkable growth of the market. Also, the upsurge in awareness of environment-friendly features and health benefits of natural colorants, along with favorable government regulations towards eco-friendly initiatives, is positively impacting the demand. Furthermore, the high adoption of food colorant in epicure dishes and the upsurge in ready-to-eat (RTE) food products is expected to expand the colorant industry’s growth in the coming years. Additionally, the shifting preference towards colored products due to flavor perception will fuel the colorant industry’s growth in the analysis timeframe. The surge in the Millennials, Generation Z, and Boomers towards the products providing a clean label, high protein, and low sugar will trigger the robust expansion of the global colorants market in the forthcoming period.
The colorant market has experienced rapid growth and is expected to continue to grow in the next coming years due to increased demand for colorants in various end-use industries such as packaging, construction and construction, and automobiles, as well as increased applications in plastics, paints, and coatings. The increasing demand for plastics in various industries is also the driving force behind the growth of the colorant market. The Asia-Pacific region is currently the world’s largest market for colorants. These factors are mainly due to the rapid rise of some emerging developing countries in the region, such as China and India. The global colorant market trend is also affected by factors such as consumption levels, consumer preferences, and people’s lifestyles.
Based on type, the global colorants market classified into Dyes, Pigments, Masterbatches, and color concentrates. The pigments will witness significant growth in the forecast period. It is due to the surge in demand for the pigment in the paints & coatings application in the automotive and building & construction industries.
Dyes are anticipated to witness substantial growth in the estimated period due to the relatively poor heat resistance, light resistance, and solvent-resistance of dyes. They are rarely used in plastic coloring and are mainly used for dyeing various textile fibers.
Based on the product, the global colorants market bifurcates into natural color and synthetic color. The natural color held a lucrative share in 2019 and projected to dominate the global colorants market by 2027. It is due to natural colorants derived from plant tissues and used in chlorophyll, curcumin, carotene, red yeast, sugar color, etc. Based on people’s concern for health, natural pigments are increasingly valued.
The synthetic color is estimated to hold the largest share of the colorants market segment in the forecast period. It is due to synthetic color having physical properties such as absorption, solubility, viscosity, migration, non-abrasive, and relatively less toxic.
Based on the end-user industry, the global colorants market segregated into packaging, food & beverage, building & construction, automotive, textiles, paper & printing, and others. The packaging segment estimated to lead the market by 2027. Due to the surge in demand for colorants for coloring plastics used for lightweight packaging and color packaging materials such as paper, plastics, metal, fabric, etc.
The textiles segment will grow at a significant rate during the forecast period due to the rise in consumer spending on clothing and garment. The increasing demand for eco-friendly products is enhancing the use of dyes in the textile industry.
Based on geography, the global colorants market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific captured the largest market share in global Colorants 2019 and projected to dominate the market by 2027. It is due to the growing demand for colorants in packaging medical, pharmaceutical, and food & beverage products. Additionally, India is the top supplier of pigments, intermediates, and dyes in the world and the swelling demand for the food & beverage industry in India, Taiwan, and South Korea.
Europe occupied a prominent share of the Colorants market in 2019. Due to the favorable regulatory scenario, growing preference for naturally derived color additives, and the surge in demand for colorant demand in food, personal care, and textile segment.
Companies such as Chr. Hansen Holding, Sethness Products Company, Sensient Technologies Corporation, Jagson Colorchem Limited, PolyOne, Penn Color, Clariant International, Lanxess AG, GNT Group, Symrise AG, San-Ei Gen F.F.I., Inc., DD Williamson, T.H. Glennon, Pylam Products, Teknor Apex Company, and ROHA JTT Group are the key players in the global colorants market.
By End-User Industry