Annatto refers to a spice that is used as a natural coloring agent and can be obtained from seeds of the achiote tree. Annatto is primarily applied as a condiment and food coloring in the food industry. It is also used in the cosmetic and textile industries. Depending upon the form of usage, annatto imparts red or orange color to the food products. Annatto also acts as a natural alternative to some synthetic food coloring compounds.
MARKET DYNAMICS
Annatto possesses excellent heat stability and solubility in oil and water, which drives the growth of the annatto market. Besides this, the increased application of annatto as a natural colorant in the food industry also stimulates the growth of the annatto market. However, the health issues such as an allergic reaction and irritable bowel syndrome restrict the growth of the annatto market. The use of annatto in the form of an oil in the cosmetic industry is expected to boost the demand for annatto market in the years to come.
MARKET SCOPE
The "Global Annatto Market Analysis to 2028" is a specialized and in-depth study of the Food and Beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the annatto market with detailed market segmentation by form, application and geography. The global annatto market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading annatto market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global annatto market is segmented on the basis of form and application. On the basis of form, the annatto market is segmented into powder and liquid. The annatto market on the basis of application is broken into food and beverage, cosmetic, textile and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global annatto market based on various segments. It also provides market size and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The annatto market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the annatto market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the annatto market in these regions.
MARKET PLAYERS
The reports cover key developments in the annatto market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from annatto market are anticipated to lucrative growth opportunities in the future with the rising demand for annatto market in the global market. Below mentioned is the list of few companies engaged in the annatto market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the food binders. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Aarkay Food Products Ltd.
- Aica Color Sac
- Amerilure, Inc.
- Biocon Colors
- Chr. Hansen Holding A/S
- Green Earth Products Pvt. Ltd
- Monterey Bay Spice Co.
- The Archer Daniels Midland Company
- Vinayak Ingredients Pvt. Ltd.
- Wild Flavors
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.