Carmine Market Size, Share, Growth Report 2030

 Description

According to the report published by Zion Market Research, the global Carmine Market size was valued at USD 6,023.11 Million in 2022 and is predicted to reach USD 8,005.11 Million by the end of 2030. The market is expected to grow with a CAGR of 3.62% during the forecast period. The report analyzes the global Carmine Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Carmine Market industry.


Global Carmine Market: Overview

Carmine is also referred to as natural red 4, carmine lake,crimson lake, cochineal extract, E120, and CI 75470. It is a brightred pigment extracted from the salt of aluminum of carminic acid.However, it is a general word given particularly for deep redcolor. It is completely natural and is the only option approved bythe FDA to be used around the eyes. Also, it is the only approvedred color for food usage in the European Union and the US due tothe high restrictions on the adoption of artificial dyes in food applications. It is derived from the female cochineal insect. This insect is widely found in Cannery Island, Mexico, Bolivia, Chile,Peru, and several other semi-arid areas.

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Global Carmine Market: Growth Factors

The global carmine market is likely to witness a significant growth rate with a healthy CAGR of 6.6% percent during the forecast period. The global carmine market is likely to positively influence the natural food colorant companies, food additive businesses, andother associated spectrums. The carmine industry facilitates numerous applications in cosmetics, bakery products, alcoholic beverages, gelatin desserts, yogurt icing, candy, pharmaceutical coatings, and many others.

However, such highlights of the functionality of the carmine are likely to increase its demand overtime. The growing health concerns over using artificial food additives and colors in the food sector are highly impacting the demand for carmine globally. In addition, the need for naturally extracted carmine is also on the rise due to itscost-effectiveness. Manufacturers are continuously boosting the research and development activities for deriving morecost-effective carmine, which in turn is also likely to openseveral growth avenues in the near future. The Covid-19 out break during 2020 has significantly impacted the global carmine market.But the growth in the market is seen post-pandemic due to thegrowing consciousness of people towards maintaining good health,thereby looking for natural ingredient labels in the food.

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Global Carmine Market: Segmentation

The global carmine market can be segmented into end-user, form,application, and region.

By end-users, the market can be segmented into cosmetics, pharmaceutical sector, catering sector, beverage sector, foodp rocessing companies, and others. The cosmetic sector accounts forthe largest share in the global carmine market and is likely togrow with a CAGR of 8.4 % during the forecast period. Carmine isutilized in cosmetics to complement the intensity and colorvibrancy of makeup. Also, it is used as a natural color forpersonal care applications. The significant growth in theconsumption of personal care and cosmetic products globally islikely to thrive in the global carmine market during the forecastperiod.

By form, the market can be segmented into crystal, liquid, andpowder.

By application, the market can be segmented into meat products, bakery & confectionery, cosmetics, food & beverages, dairy & frozen products, and others. The food processing companies hold the largest share in the global carmine market owing to the increasing requirement for natural color extracts in processed foods. However,the dairy & frozen product segments are also likely to witness significant growth in the forth coming years due to the major use of carmine in products like drinks, eggnog, chocolate milk, and drinking yogurt.

Global Carmine Market: Regional analysis

North America accounts for the largest share in the global carmine market due to the growing consumption of meat products inthe region. Also, the growing consciousness among people regarding food consumption is further supporting the growth of the regional market. There is a significant rise in the adoption of natural redcolors, meat, dairy, and frozen product industry.

Asia Pacific is also likely to grow with the highest CAGR overthe forth coming years due to the rising health awareness, improving lifestyle, and increasing disposable income of the people in the region.

Global Carmine Market: Competitive Player

Some of the significant players in the global carmine market include:

  • The Hershey Company
  • Sensient Technology Corporation
  • RohaDyechem Pvt Ltd
  • Naturex
  • Gnt Group B V
  • Diana Natural
  • Ddw TheColor House
  • Colormaker, Inc.

The global Carmine Market is segmented as follows:

By End-user 

  • cosmetics
  • pharmaceutical sector 
  • catering sector 
  • beverage sector 
  • food processing companies
  • and others 

By Form 

  • crystal 
  • liquid 
  • and powder

By Application 

Global Carmine Market: Regional SegmentAnalysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms ofvolume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold inthe market.
Contact Us:
Zion Market Research
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