10 January 2019 –
The Global
Annatto Market is expected to grow at a significant CAGR in the
upcoming years as the scope and its applications are increasing across the
globe. Annatto is the seed or extract of the achiote tree (Bixaorellana), which
is a tropical tree. It is a naturally intense dye and ranges in colour from
bright yellow to deep orange. The colour of annatto originate from several
carotenoid pigments.
It is widely used as a medicine, commercial dye, culinary
spice and ingredient in various foods. In addition, they are also used in body
paint, fabric dye, cosmetics, insect repellent, etc. The factors that propel
the growth of the Annatto Market include increasing demand, rapid urbanization
& industrialization and technological innovations.
In addition, some of the other factors such as growing
awareness regarding the harmful health effects of synthetic color agents and
ban on trading of products made from artificial products. On the other hand,
there are also factors that may hamper the growth of the market such as high
cost and color degradation due to several external factors such as light,
temperature, etc. Also, factors such as allergic nature and low stability of
annatto as compared to synthetic agents.
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Annatto Market is classified on the basis of form, product
type, pigment, applications, distribution channel and geography. Annatto Market
is classified by form as powder and liquid. Annatto Market is segmented by
product type as emulsified annatto, oil-soluble annatto, water-soluble annatto,
and others. Annatto Market is categorized by pigment as carotenoids, bixin,
norbixin and others.
Annatto Market is classified on applications as cosmetic
industry, food industry, natural fabric industry, and others. Annatto Market is
segmented by distribution channel as online stores, specialty stores and
others. Annatto Market is classified on the basis of geography as North
America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and
Middle East and Africa.
The North American region consists of the U.S., and Canada.
Latin America region consists of Mexico and Brazil. The Western European region
consists of Germany, Italy, France, England and Spain. The Eastern European
region consists of Poland and Russia. Asia Pacific region consists of China,
India, ASEAN, Australia & New Zealand. The Middle East and African region
consists of GCC, South Africa and North Africa. By geography, North America is
projected to hold a significant share of the Annatto Market.
Some of the key players that fuel the growth of the Annatto
Market include Aarkay Food Products, AICACOLOR, Biocon del Peru, DDW, Guangzhou
Qianyi, Hansen, FMC, Kalsec, Vinayak Ingredients, WILD Flavors, Zhongda
Biological, and others. The key players are focusing on inorganic growth to
sustain themselves amidst fierce competition. As such, mergers, acquisitions,
and joint ventures are the need of the hour.
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Market Segment:
Key Applications
•
Food Industry
•
Natural Fabric Industry
•
Cosmetic Industry
Key Regions
·
North America
·
Europe
·
Asia Pacific
·
Middle East and Africa
·
South America
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