According to the latest report by IMARC Group, titled " Carmine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global carmine market reached a value of US$ 47.2 Million in 2021. Carmine refers to a red food color produced by utilizing cochineal extract, which is usually derived from the shell of the female cochineal insect. It is prepared by boiling the insect and mixing the extract with calcium and aluminum ions for producing the red pigment. It is commonly available in different forms that aid in enhancing the shade intensity and color vibrancy of the end product. Due to the shifting preference toward the usage of organic food colorants in the preparation of various foods and beverages, this is providing a boost to the market growth across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Carmine Market Trends:
The global market is primarily driven by significant growth in the food and beverages industry. In line with this, rising investments by leading players for producing natural and vegan food colors due to the increasing health-consciousness among the masses is creating a positive outlook for the market. Moreover, the rising utilization of carmine in the manufacturing of tinted lip gloss, lipsticks and eye shadows across the cosmetic industry is further propelling the market growth. Along with this, the increasing product application in the production of tablets in the pharmaceutical sector is providing an impetus to the market growth. Other factors, including continuous product innovations, the rising adoption of innovative marketing strategies by manufacturers and sellers, the easy product availability via online and offline distribution channels and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 68.5 Million by 2027, exhibiting a CAGR of 6.10% during 2022-2027.
- On the basis of the form, the market has been segmented into powder, liquid and crystal.
- Based on the application, the market has been segregated into dairy and frozen products, food and beverages, cosmetics, bakery and confectionery, and meat products.
- On the basis of the end-user, the market has been classified into food processing companies, beverage industry, catering industry, and cosmetics and pharmaceutical industry.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of the key players are Amerilure Inc., BioconColors, Clariant AG, Colormaker Inc., DyStar Singapore Pte Ltd, Imbarex S.A., Proquimac Pfc Sa and Vinayak Ingredients (INDIA) Pvt. Ltd.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal