Carmine Market Segments, Demand, Opportunity, Growth and Forecast 2022-2027

Home » Carmine Market Segments, Demand, Opportunity, Growth and Forecast 2022-2027

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 report. 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 is a bright red or purplish-red pigment that is extracted from the shell of the female cochineal insect, then precipitated and mixed with aluminum and calcium ions. In order to obtain carmine, the insects are harvested, sun-dried, crushed, then put in an acidic solution to produce carmine acid, which creates a very bright red dye. Modified with borax or other solutions, the resulting product is used as a natural dye for a variety of purposes. In makeup products, it is commonly used to add long-lasting color vibrancy and tone intensity, especially for purples, reds, and pinks in cooler tones. Additionally, it is added in food and beverages, and pharmaceuticals to enhance their flavor and color.

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The COVID-19 pandemic has had an adverse effect on the market. As a result of a halt in production, disruptions in supply chains, and decreased demand, the cosmetics industry experienced a slowdown. During the pandemic, however, the growing consciousness about health and the inclusion of natural ingredients in food and personal care products have created a positive outlook to the market. With a continual decrease in COVID-19 cases, the gradual removal of the restrictions, and the resumption of industrial operations, the market is expected to grow steadily.

Market Trends:

The market is primarily driven by the escalating demand for food colorants in the food and beverages (F&B) industry. This can be attributed to the rapid product utilization in a wide range of food products, such as bakery and confectionery, soft drinks, jams, and processed meats including sausages and artificial crab meat. In addition to this, the growing adoption of naturally derived carmine, along with concerns regarding the usage of artificial food additives and colors used in the production of processed foods, is also providing an impetus to the market. Moreover, a considerable growth in the beauty industry is also acting as a significant growth-inducing factor for the market. Apart from this, extensive research and development (R&D) activities focusing on deriving vegan and cost-effective carmine by government and private organizations are further creating a positive outlook for the market. Some of the other factors contributing to the market growth include continual technological advancements in food processing, rapid urbanization and industrialization, and continuous innovations in carmine products.

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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.
  • BioconColors
  • 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:

  • Powder
  • Liquid
  • Crystal

Breakup by Application:

  • Dairy and Frozen Products
  • Food and Beverages
  • Cosmetics
  • 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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