The global food colorants market is estimated to grow at a CAGR of nearly 5.6% during the forecast period. The major factors contributing to the growth of the market include a significant rise in the food and beverage industry and the rising demand for natural food colorants. As per the FoodDrinkEurope, the turnover of the EU food and drink industry was nearly $1431 billion in 2017, which represented a 6.7% rise from 2016. The number of companies engaged in the manufacturing of food and beverage in the EU was 294,000 in 2017. Nearly 47.5% of food and drink turnover was generated from small and medium-sized companies.
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