DENMARK – Chr. Hansen Natural Colors, a provider of natural colors to the food industry, has announced that it is changing its name to Oterra, effective immediately.
The rebrand follows the business’ acquisition by investment firm EQT earlier this year and the subsequent establishment as a standalone company.
Oterra, the new name for the former Chr. Hansen division is said to be inspired by the Latin word for earth.
The company says that the rebranding reflects its commitment to provide the world with colours from natural sources and to “contribute to food that is natural, authentic, safe and sustainable”.
“We have been producing natural colors for more than 145 years now – our new name and brand identity are rooted in this proud heritage and reflect our belief that nature provides the best ingredients,” said Oterra CEO, Odd Erik Hansen.
“We help our customers meet the increasing global consumer demand for natural products by utilising the power of nature’s true colours and our unrivalled expertise in colours for food, beverage and pet food.”
Natural food colors expected to grow at high-single digits
Oterra’s name change comes at a time when the natural food colors market is expected to reach US$3.2 billion by 2027, at a CAGR of 8.4% during the forecast period of 2019 to 2027, according to projection by Meticulous Research.
According to the market research, the demand for natural food colors over synthetic food colors is increasing due to the growing consumer awareness for organic products, health hazards associated with synthetic colors, and health benefits of natural food colors.
Asia-Pacific region is expected to grow at the highest CAGR during the forecast period mainly due to the increasing consumer preference for natural ingredients.
Rising consumer awareness regarding the negative effects of synthetic colorants coupled with the growth in the spending abilities of the consumers, and strong growth in the F&B industry are also the main drivers for growth in this region.
Also, rising government regulations on the restricted use of synthetic colors is expected to support the growth of the natural food colors market in the region.
Cees de Jong, Oterra board chairman, added: “The board is very excited about the relaunch as Oterra – a name and identity that encapsulates our purpose and sustainable value proposition.
“We see great growth ahead for Oterra and are confident the company will accelerate its development under its new brand.”
Last month, the company announced its acquisition of food and beverage colours provider, Secna Natural Ingredients Group.
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