According to IMARC Group latest report titled “Carmine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on Carmine Market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global carmine market reached a value of US$ 47.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 68.5 Million by 2027 exhibiting a CAGR of 6.10% during 2022-2027.
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.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
Explore full report with table of contents: https://www.imarcgroup.com/carmine-market
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Amerilure Inc.
- Clariant AG
- Colormaker Inc.
- DyStar Singapore Pte Ltd
- Imbarex S.A.
- Proquimac Pfc Sa
- Vinayak Ingredients (INDIA) Pvt. Ltd
Carmine Market Segmentation:
Our report has categorized the market based on region, form, application and end user.
Breakup by Form:
Breakup by Application:
- Dairy and Frozen Products
- Food and Beverages
- Bakery and Confectionery
- Meat Products
Breakup by End User:
- Food Processing Companies
- Beverage Industry
- Catering Industry
- Cosmetics and Pharmaceutical Industry
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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