Carmine Market:
Growth opportunities in the carmine market look promising over the next six years. This is mainly due to the expansion of the pharmaceutical and cosmetic industry, rising health awareness among individuals worldwide, strict government regulations, and increasing demand for natural food colorants and ingredients.
Carmine Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The drivers stimulating the growth of the global carmine market include the growing demand for natural ingredients and colorants, stringent government norms, and the boost in the cosmetic and pharmaceutical companies. The artificial food color extracted from petroleum products makes food look more appealing and attractive but results in numerous health issues like restlessness, irritability, aggression, and sleeplessness. The increasing health awareness led by the surging health risk has stimulated the demand for natural food colorants and ingredients among consumers throughout the world. Carmine is a natural color synthesized from raw materials and does not cause any harm to mental or physical health, thereby augmenting its demand in the market.
Government throughout the world has imposed strict norms on manufacturing and trading of synthetic chemicals owing to the health risk associated with them. This has resulted in shifting the focus of industries towards natural colors in food and products like infant toys, textile printing, and handmade paper, which further boosts the market growth.
End-User Segment Drivers
Based on end-user, the market is segmented into the cosmetics & pharmaceutical industry, catering industry, food processing companies, and beverage industry. The food processing industry is predicted to lead the market over the forecast period due to the prominent adoption of carmine or food colors in processed foods. Carmine is also used in processed meats to maintain its red color, which boosts the growth of the segment.
Regional Drivers
Based on the regional coverage, North America is projected to dominate the market during the forecast period owing to the adoption of processed food by consumers. Also, the choice of dairy and meat products contributes to the growth of the market. On the other hand, Asia-Pacific is expected to expand at a higher CAGR over the forecast period attributing to the growing health awareness among individuals.
Carmine Market’s leading Manufacturers:
- Roha Inc.
- colorMaker, Inc.
- Hansen Holding A/S
- Sensient Technologies Corporation
- Amerilure, Inc.
- Biocon Ltd.
- Proquimac PFC S.A.
- NATUREX SA
- DDW, Inc.
- The Hershey Company
Carmine Market Segmentation:
Segmentation by Form:
- Powder
- Liquid
- Crystal
Segmentation by Application:
- Dairy & Frozen Products
- Food & Beverages
- Cosmetics
- Bakery & Confectionary
- Meat Products
Segmentation by End-User:
- Food Processing Companies
- Beverage Industry
- Catering Industry
- Cosmetics and Pharmaceutical Industry
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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