Carmine Market

Carmine Market is expected to grow at a higher CAGR over the forthcoming years (2020-2027), due to the increasing application of carmine across the cosmetics, food & beverage, personal care, and pharmaceuticals industry.

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Key Drivers

Strict government regulations, rising demand for natural food colorants and ingredients, and expansion of the pharmaceutical and cosmetic industry are some of the major factors proliferating the growth of the global carmine market. Artificial food colors make food look more attractive and appealing. This artificial color is synthesized from petroleum products. Ingredients with synthesized food color create multiple problems, especially among children including, sleeplessness, restlessness, aggression, irritability, and others. The increasing health risk has started creating health awareness among individuals across the world. In comparison to past years, the demand for natural food colorants and ingredients is increasing rapidly. Natural food colorants are extracted from natural raw materials and do not cause any harm to physical or mental fitness. Carmine is also a natural color, which is extracted naturally. Thus, rising demand for natural food colorants and ingredients is boosting the growth of the market globally.

Growth in the food and beverage industry has augmented the use of carmine across the soft drinks, bakery and confectionery products, strawberries, and jams, is estimated to augment the market growth. In addition, the surging demand for colorants from the meat industry, ongoing technological advancements which include the advent of vegan carmine to be used in ready-to-drink-beverages, jelly gums, and hard candy, will strengthen the market size. In addition, the growing use of carmine for cosmetics and personal care products, and pharmaceutical industry, the enforcement of various government initiatives to encourage the use of cost-effective carmine extraction, and the rising product demand for the manufacturing of processed foods, are some other factors fueling the market share.

Due to the increasing health risk of synthetic color, the government of multiple countries has enforced strict regulations on the manufacturing and trading of synthetic colors. This has shifted the focus of industries toward the adoption of natural colors in food and in other products such as textile printing, handmade paper, infant toys, others, which further catalyzes the growth of the market.

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Application Segment Analysis

On the basis of application, the market is segmented into dairy & frozen products, food & beverages, cosmetics, bakery & confectionary, and meat products. Among these, dairy & frozen products would lead the market during the forecast period. This due to the high consumption of dairy products & frozen products, which include yogurt, ice-creams, flavored milk, and others. Moreover, the government has also implemented stringent rules and regulations on the usage of synthetic food colors, which boost the demand for carmine in dairy & frozen products.

Meat Products Segment is projected to witness a significant boom over the forecast period, due to the growing demand for color in processed meats and meat products like sausages and bacon. Moreover, the growing use of carmine to form a film over sausages in order to improve their aesthetic appeal and the growing demand for meat products in developed economies such as the U.S. and U.K. is likely to propel market growth.

End-User Segment Analysis

Based on end-user, the market is segmented into food processing companies, beverage industry, catering industry, cosmetics & pharmaceutical industry. Among these, the food processing industry would lead the market during the forecast period owing to the high adoption of carmine or food colors in processed foods. Carmine is used in processed meats to maintain its red color, which accelerate the growth of the segment.

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Based on the region, North America is anticipated to lead the market during the forecast period. This due to the high adoption of processed food by consumers in the region. Moreover, the high adoption of dairy products and meat products in the region is boosting the growth of the market. Furthermore, the Asia-Pacific is projected to grow at a higher CAGR during the forecast period owing to the increasing health awareness among individuals.

The key players in the market include The Hershey Company, Amerilure, Inc., DDW, Inc., Sensient Technologies Corporation, Proquimac PFC S.A., Chr. Hansen Holding A/S, NATUREX SA, colorMaker, Inc., Biocon Ltd., and Roha Inc.

The global carmine market has been segmented on the basis of form, application, end-user, and region. Based on form, the market is segmented into powder, liquid, crystal. Based on the application, the market is segmented into dairy & frozen products, food & beverages, cosmetics, bakery & confectionary, meat products. Based on the end user, the market is segmented into food processing companies, beverage industry, catering industry, cosmetics & pharmaceutical industry.

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Key questions answered in this research report:

• • At what pace is global carmine market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in global carmine market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global carmine market?
  • Which application generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What are the various end-users of global carmine market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2019)	USD Million
Market Base Year	2019
Market Forecast Period	2020-2027
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Form, By Application, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	The Hershey Company, Amerilure, Inc., DDW, Inc., Sensient Technologies Corporation, Proquimac PFC S.A., Chr. Hansen Holding A/S, NATUREX SA, colorMaker, Inc., Biocon Ltd., Roha Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Carmine Market by Form

• • Powder
  • Liquid
  • Crystal

Global Carmine Market by Application

• • Dairy & Frozen Products
  • Food & Beverages
  • Cosmetics
  • Bakery & Confectionary
  • Meat Products

Global Carmine Market by End-User

• • Food Processing Companies
  • Beverage Industry
  • Catering Industry
  • Cosmetics and Pharmaceutical Industry

Global Carmine Market by Region

• • North America Carmine Market (Option 1: As a part of the free 25% customization)
    • North America Market by Form
    • North America Market by Application
    • North America Market by End-User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Carmine Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Form
    • Europe Market by Application
    • Europe Market by End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Carmine Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Form
    • Asia-Pacific Market by Application
    • Asia-Pacific Market by End-User
    • India Market All-Up
    • China Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Carmine Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Form
    • RoW Market by Application
    • RoW Market by End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Carmine Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Hershey Company
  • Amerilure, Inc.
  • DDW, Inc.
  • Sensient Technologies Corporation
  • Proquimac PFC S.A.
  • Hansen Holding A/S
  • NATUREX SA
  • colorMaker, Inc
  • Biocon Ltd.
  • Roha Dychem Pvt. Ltd.