Dublin — Changing consumer lifestyles and millennials’ interest in natural foods are driving demand for natural colors, according to Researchandmarkets.com, which anticipates sector sales to grow more than 7 percent by 2022.
In addition to being more likely to purchase products because of natural colors, millennials also demonstrate a willingness to pay a premium for such items, the research company reports.
In conjunction with growing interest in natural products, shoppers are also showing inclination toward environment-friendly items, which is benefiting the natural colors market.
While natural colors are seeing demand grow, the market is not without challenges. Primary among them are the high costs associated with large quantities of raw materials required to produce natural colors, according to Researchandmarkets.com. Additional costs to manufacturers include crop-management and cultivation expenses.