Carmine’s market size was USD 45.788 million in 2022. It is expected to reach USD 79 Million by 2030. The market will grow at a CAGR of 5.99% between 2022 and 2030.
Organic food products are in high demand. This will drive organic carmine market sales to increase at 9.1% CAGR during the assessment period. Natural food colors are used in confectionery, dairy, and bakery products to make them more visually appealing. Carmine colors are also being sold more because of the growing demand for organic ingredients.
Driving Factors and Restraining Factors:
foods including bakery, confectionery, meat, dairy, and beverages are red food color in some regions. Moreover, the increasing demand for natural coloring agents is expanding the demand for carmine. Carmine is extracted from insects without the use of chemical additives. effects of chemical food additives on health are pushing the demand for natural food additives. Furthermore, the growing price of carmine is a barrier to its widespread adoption in the pharmaceutical and cosmetic industries. Carmine production is a major factor in limiting the growth of the market. a time-consuming and labor-intensive process that requires a lot of capital. Nevertheless, developing a cost-effective production process will offer lucrative opportunities to the major players in the Carmine Market.
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Market Key Trends:
- Carmine Market: Industry to Industry holds the largest share
- This report examines micro-markets regarding their growth trends and development patterns, future prospects, their contribution to the overall market, and Increased Competition and Continuous Innovations.
- The Growth is driven by regional and geographical demand
- Carmine Growth is seeing a rising adoption of market segments
- Over the Forecast Period, Europe and North America are expected to experience a higher growth rate.
Recent development:
The European Union announced on 10 April 2022 that it would vote on the “Rouge Tree Food Pigment Use Regulations.” This regulation fine-tunes many food categories of carmine and creates new labels. This regulation could affect European catering companies and exporters to Europe if approved. Ke Hansen, a Danish bioscience company, stated that new regulations could open up new opportunities for the application.
Scope of the Report
Attribute | Details |
Market Size in 2022 | USD 45.788 million |
Growth Rate | 5.99% |
Historical Years | 2016-2020 |
Base Year | 2021 |
Quantitative Units | USD In Mn |
No. of Pages in Report | 200+ Pages |
No. of Tables & Figures | 150+ |
Format | PDF/Excel |
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Key Companies:
- Amerilure
- Danone
- Gnt
- Hershey
- DDW Color House
- Sensient Colors
- Proquimac
Type
- Color-Based
- High Tint
- Carminic Acid
- Solution
- Carminic Blend
Application
- Bakery & Confectionery
- Beverages
- Cosmetics
- Dairy & Frozen Products
- Meat Products
- Drugs
- Textile Dyes
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
- What are the most important players in Carmine?
- What are the main drivers and restraining factors in the global carmine market? What impact will drivers and restraints have on the market in the future?
- What Regions Are Included in this Report?
- What is the expected market size and growth rate for the Carmine Market in the future?
- What is the projected growth rate for the global carmine market between 2022 and 2031?
- Which segments are likely to grow faster and why?
- What is the market value of carmine colors?
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