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The carmine market size is forecast to increase by USD 26.1 million, at a CAGR of 4.85% between 2024 and 2028. Natural carmine, derived from the cochineal insect, is gaining popularity in various industries due to increasing consumer preference for natural and organic products. This natural colorant is extensively used in the food industry as a replacement for synthetic food dyes. The cosmetics sector is another significant market for carmine, as it offers a more natural alternative to synthetic colors with fewer side effects. The use of natural carmine is not only beneficial for health-conscious consumers but also caters to the growing demand for clean label products. Furthermore, its production process is environmentally sustainable, making it an attractive option for businesses aiming to reduce their carbon footprint. In summary, the rising demand for natural food and cosmetics, coupled with the lesser side effects and eco-friendly production, make natural carmine a key offering in numerous industries.
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Cochineal insects are a natural source of carminic acid, used as a natural food colorant in various products. Polish cochineal, processed from these insects, provides a vibrant red color to beverages, dairy, and frozen desserts. The cosmetic industry also utilizes this ingredient, though it faces ethical concerns regarding sustainable sourcing practices. As consumer perception shifts towards clean-label products, there's increased demand for natural food colorants over synthetic dyes. This aligns with growing health consciousness and the preference for vegetarian and vegan products. Additionally, biotechnology and microbial fermentation offer alternatives to traditional colorants. In paint and historic restorations, the use of cochineal reflects its versatility beyond food. Middle class consumers increasingly favor products that adhere to ethical concerns, making sustainable sourcing a priority. Companies like Monterey Mushrooms are part of this shift towards ethical practices and health-conscious consumer trends.
The increasing consumer demand for natural food carmine is one of the key drivers supporting the carmine market growth. The increasing consumer awareness of the environmental impact caused by artificial chemicals in processed foods is leading to the increase in the adoption of naturally derived food carmine, which has very little impact on the environment. The changing consumer behavior toward artificial food carmine has led many companies in the global food and beverage industry to quit using artificial additives such as synthetic food carmine in their food products. A few major food companies have made commitments to reduce their use of artificial food carmine. For instance, General Mills has removed artificial colors and flavors from all its cereals, including its Trix cereal and Lucky Charms. Such initiatives will drive the carmine market growth during the forecast period.
Increasing demand from the food and beverage industry is one of the key carmine market trends fueling market growth. Carmine is widely used in bakery and confectionery products, soft drinks, strawberries, and jams. In line with this, the increasing demand for carmine from the meat industry is favoring the market growth. Various product innovations, such as the launch of vegan carmine which is widely used in ready-to-drink-beverages, jelly gums, and hard candy, are providing a considerable boost to the market growth. Factors such as the growing demand for carmine across the pharmaceutical industry, the implementation of various government initiatives among nations for cost-effective carmine extraction, and the rising product demand for the manufacturing of processed foods, are creating a positive outlook for the market in focus. These supporting factors will propel the carmine market growth during the forecast period.
The threat of substitutes is one of the key factors challenging the carmine market growth. Artificial or synthetic carmine is the direct substitute for carmine as it provides influencing appeal as well as improve the taste of food products. Artificial carmine help to maintain the quality and increase the shelf life of the product. Artificial food carmine protects vitamin quality and flavors that can be affected by UV rays. As compared to a natural colorant such as carmine, artificial food carmine is highly effective and imparts intense and uniform color in food and beverage products.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amerilure Inc.: The company offers carmines of different types such as high tint, gold type, blue shade, purple shade, pink shade, and yellow shade which has additional capability to adjust hues and pH values according to client specifications, thus widely used in cosmetic formulations.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The powder segment is estimated to witness significant growth during the forecast period. Carmine is available in powder form. Carmine powder is a natural colorant derived from the shell of the female cochineal insect and widely used in by manufacturers in the cosmetic industry for cosmetic formulations, yielding a spectrum of concentrated as well as brilliant colors ranging from light pink to crimson red.
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The powder segments accounted for USD 39.70 million in 2023 and showed a gradual increase during the forecast period. Also, the carmine powder is completely natural and is approved by the FDA for use around the eye. It is the only red colorant approved for use in food in the United States and the European Union. Therefore, it is widely used by the cosmetic industry, personal care industry, and food and beverage industry, which is expected to continue during the forecast period, and thereby, expected to increase the demand for carmine powder during the forecast period. Owing to such factors, the market in focus is expected to grow during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The regional carmine market is expected to grow during the forecast period owing to technological advancements in the food industry, continuous research, and development to derive cost-effective carmine by private organizations as well as the governments of countries in APAC. In addition, major use of dairy products such as drinking yogurt, chocolate milk, eggnog, and whey-based drinks is increasing the demand for carmine from food and beverage manufacturers in the region. Moreover, carmine is widely used in cosmetic products to add color vibrancy as well as shade intensity to makeup. Therefore, growth in the cosmetic industry owing to growth in consciousness about external beauty and the rise in the use of cosmetics among men in their daily routine is expected to increase the demand for carmine by the manufacturers in the cosmetic industry during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Alum is widely utilized in various industries, including bakery and pastry, where it enhances heat and light stability in products. In the cosmetic industry, alum is found in lip products, blush and rouge, eye makeup, and nail polish, benefiting from its stability and functionality. It's also used in topical preparations and medications, though it can cause allergic reactions in some individuals. Beyond cosmetics, alum is used in food processing companies for dairy and frozen products and processed meats, contributing to meat processing. The catering industry relies on alum for its applications in food processing and meat products. Additionally, alum's role extends to paints, enhancing their performance. Regulatory support ensures its safe use across these diverse applications, providing benefits while addressing potential safety concerns in various sectors.
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Market Scope |
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Report Coverage |
Details |
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Page number |
135 |
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Base year |
2023 |
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Historic period |
2028-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.85% |
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Market growth 2024-2028 |
USD 26.1 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.41 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 46% |
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Key countries |
China, US, Japan, Germany, India, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amerilure Inc., BioconColors, Chr Hansen Holding AS, Clariant International Ltd., Colormaker Inc., Danone SA, DDW Inc., DyStar Singapore Pte. Ltd., GNT GROUP, IMBAREX, PROQUIMAC PFC SA, Sensient Technologies Corp., The Hershey Co., Union Colours BV, and Vinayak Ingredients Pvt. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Formulation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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