Colorants Market To Witness Phenomenal Growth by 2023 Colorants Market To Witness Phenomenal Growth | Page 2

Introductionof
Colorants Market
The global colorant market was valued at $41 billion in 2016, and is projected to reach
at $64 billion by 2023, registering a CAGR of 6.5% from 2017 to 2023.
Rise in the plastic, paints & coatings, and cosmetics industry in the emerging
economies such as, India, Brazil, UAE, Saudi Arabia, and Africa. Moreover, the
increased consumer spending on packaged food boost the market growth. In addition,
the ever-growing technological advancements and easy availability of dyes from plants
and animals support the growth. However, the market growth for colorant is restricted
by the ban on the usage of artificial colorants. Technological advancements offer food
colorant manufacturers numerous growth opportunity.
Ingredients or combination of ingredients used to offer the required appearance to
any products, such as clothes, paper, and beverages are termed as colorants. The most
widely used colorants are dyes and pigments.