Zion Market Research, the market research group announced the analysis report ‘Annatto Extract Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts, 2016–2024
Global Annatto Extract Market: Overview
Annatto is a spice which is used as a natural coloring agent and is obtained from achiote shrub. The wide application of the annatto as a food color and dye and also helps in enhancing the flavor of the food. Annatto is heart shaped and is completely covered with hairs. When the fruit ripens it opens up its pods and the red colored seeds are obtained. The yellow to the orange color range can be obtained from the annatto extract which is utilized in several commercial products. Annatto extract also has various medicinal properties.
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Global Annatto Extract Market: Segmentation
The global annatto extract market is segmented into pigments, pigments fraction, application. Based on the pigments, the global market is segregated into bixin, carotenoids, and norbixin. On the basis of pigment fraction, the market is categorized into emulsified annatto, oil-soluble annatto, and water-soluble annatto. Depending on the various application areas, the global market is divided into the food industry, cosmetic industry, and natural fabric industry.
Global Annatto Extract Market: Growth Factors
The consumers are becoming aware of the harmful health effects of using the synthetic coloring agents thus increasing the demand of the natural food color sector which in turn is increasing the demand of the annatto extract market in the coming years. Other factors that are contributing to the market growth are ban on the trading of the products that are made from artificial colors and its manufacturing in various markets, the utilization of the products that are made using natural food colors such as infant products, handmade papers, and many more are increasing, developing new products consisting of different natural ingredients and flavors in food products and beverages anticipate to foster the natural food color market which favors the growth of the annatto extract market. The factors that restrain the growth of annatto extract market are less stable as compared to synthetic agents; high cost; color degradation owing to different external factors such as light, temperature, and others; extracts that are highly concentrated affects the flavor of the food. Another major reason that hampers the growth of the market is allergic nature or the hypersensitivity to the archive.
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Global Annatto Extract Market: Regional Analysis
The geographical segmentation of the annatto extract market includes North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, and the Middle East and Africa. The annatto market is globally dominated by the North American region. The region dominates the market in terms of revenue owing to the growing demand for the ingredients that gives color naturally to the food products. Thus there is an increased requirement for the coloring agents that are obtained naturally thus forcing the manufacturers to make use of this seed which helps in giving natural color. Other regions are too contributing a significant market share in the global annatto extract market.
Global Annatto Extract Market: Competitive Players
The market players that are involved in the annatto extract market are Fiorio Colori, Sensient Technology Corporation, D.D. Williamson & Co. Inc., Naturex S.A., Kalsec Inc., Chr. Hansen Holding A/S, FMC Corporation, Wild Flavors, and others.
Global Annatto Extract Market: Regional Segment Analysis: North America(US), Europe(Germany, France, UK), Asia Pacific(China, Japan, India)Latin America(Brazil, Middle East, Africa).
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