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The Carmine Market Report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global carmine market report has been segmented on the basis of application and region.
Carmine Market Overview:
Global Carmine Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
Carmine also known as cochineal extract, is a natural color extracted from bug coccus cacti that gives food dark red color. Carmine has been used for cosmetics, pharmaceutical coatings, cake icings, fillings, dry mixes, and hard candy.
In the liquid form, it is used in applications such as coloring bakery products, yogurt, ice cream, milk-based and alcoholic beverages, candy, fruit syrups, gelatin desserts, pet foods, jams, meat products, hair and skincare products, and personal care products.
Carmine Market Dynamics:
Rising consumption of carmine in dairy & frozen products, meat products, processed foods, and beverages across the globe is expected to drive revenue growth of the carmine market over the forecast period.
Adoption of natural colors over synthetic colors owing to stringent government regulations and growing awareness among consumers regarding the adverse health impacts of synthetic colors is expected to support revenue growth of the target market.
Furthermore, rising demand for hygienic food and beverages in developing economies is expected to drive revenue growth in the target market over the forecast period.
However, the high cost of carmine as compared to synthetic colors is expected to restrain revenue growth of the carmine market over the forecast period.
Carmine Market Application Insights:
Among applications, the dairy and frozen products segment is expected to account major revenue share in the global market and is expected to maintain its dominance over the forecast period. Stringent government regulations regarding the use of synthetic food colors in dairy products, which is expected to boost demand for natural colors.
Growing demand for dairy products such as flavored milk, frozen yogurt, and yogurt drinks are expected to drive revenue growth in this segment over the forecast period.
Carmine Market Regional Insights:
The north American market is expected to account major revenue share in the global carmine market and is expected to maintain its dominance over the forecast period. Increasing demand for meat and frozen products in the countries such as the US and Canada is expected drive revenue growth in the North American carmine market over the forecast period.
Moreover, the rising demand for dairy products in the region owing to the increasing disposable income of consumers is expected to support revenue growth of the carmine market in the region. North America accounts for the major revenue share of the global carmine market, followed by markets in the Asia Pacific, Europe, Latin America, and the Middle East & Africa respectively.
The Europe carmine market is expected to grow at a steady rate over the forecast period. Stringent government regulations limiting the adoption of artificial colors in food & beverages is expected to boost demand for natural products such as carmine, curcumin, carotenoids, anthocyanin, etc.
Market Segmentation and Key Players Operating in the Global Carmine Market:
- Food & Beverages
- Bakery & Confectionery
- Dairy & Frozen Products
- Meat Products
- Personal Care
- Oil & Fat
- Others (textile dyes, fruits & vegetables, cosmetics, floor waxes & paint, crayons, etc.)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Amerilure, Inc.
- Hansen Holding A/S
- Sensient Technologies Corporation
- The Hershey Company
- Roha Dyechem Pvt. Ltd.
- DDW Color House
- Diana Naturals
- ColorMaker, Inc.
- Naturex S.A.
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