Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
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Market Overview
Global Annatto Market is projected to register a CAGR of 3.72% during the forecast period 2019-2024.
- Increasing demand and consumer preference for minimally processed foods and health-promoting properties of natural colorants are expected to drive the annatto market across the globe.
- Wide varieties and applications of annatto in the food and beverage industry is making it one of the most required substances for the enhancement of food products. In addition, increasing uptake of functional foods is also expected to driving its market in the developing countries like India and China.
Scope of the Report
Global Annatto Market segmented by type and application. On the basis of by type, the market is segmented into oil-soluble, water-soluble, and emulsified. On the basis of application, the market is segmented into food & beverage, natural fabric industry, and cosmetic industry. By geography, the study provides an analysis of the annatto market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| By Type | |
| Oil-soluble | |
| Water-soluble | |
| Emulsified |
| By Application | |
| Food & Beverage | |
| Natural Fabric industry | |
| Cosmetic industry |
| Geography | |||||||||
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Key Market Trends
Growing use of Natural Food Colorants in Processed Food Industry
The growing demand for natural food colorants in the market as awareness of health and environmental issues have increased significantly over the years. As the market for natural colorants is expected to grow in the forecast period, owing to which the use of annatto will also increase, as it gives an extraordinary red/orange color, naturally. Annatto is a natural colorant responsible for the yellow color of butter, margarine, and cheese, without which all of these would be a pale creamy color. It is also used in many commercial products, such as processed meats, smoked fish, beverages, and a variety of packaged foods.
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North America Dominants the Annatto Market
North America holds the largest market share in annatto market, globally. Furthermore, United States is one of the largest markets for annatto. It sources over 60% of the supplies from Peru and the remainder from the Caribbean region. The increasing government support for the adoption of natural food colors in various food & beverage applications is expected to boost the growth of the annatto market in North America. Western Europe and Asia-Pacific countries are expected to create robust demand for annatto in the years to come. Morerover, Latin America is a regional hotspot of annatto production in the world.
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Competitive Landscape
Some of the major key nplayers in the annatto market, globally includes Aarkay Food Products, AICA-COLOR, Amerilure, Inc., Biocon del Peru, DDW, FMC, Hansen, Frutarom Natural Solutions BU, Kalsec, and WILD Flavors, among others.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Oil-soluble
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5.1.2 Water-soluble
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5.1.3 Emulsified
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5.2 By Application
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5.2.1 Food & Beverage
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5.2.2 Natural Fabric industry
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5.2.3 Cosmetic industry
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.1.4 Rest of North America
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5.3.2 Europe
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5.3.2.1 United Kingdom
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5.3.2.2 Germany
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5.3.2.3 France
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5.3.2.4 Russia
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5.3.2.5 Italy
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5.3.2.6 Spain
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5.3.2.7 Rest of Europe
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5.3.3 Asia Pacific
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5.3.3.1 India
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5.3.3.2 China
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5.3.3.3 Japan
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5.3.3.4 Australia
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5.3.3.5 Rest of Asia-Pacific
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 South Africa
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5.3.5.2 Saudi Arabia
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5.3.5.3 Rest of MEA
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Aarkay Food Products
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6.4.2 AICACOLOR
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6.4.3 Amerilure, Inc.
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6.4.4 Biocon Del Peru
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6.4.5 DDW
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6.4.6 FMC
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6.4.7 Hansen
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6.4.8 Frutarom Natural Solutions BU
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6.4.9 Kalsec
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6.4.10 WILD Flavors
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Annatto Market market is studied from 2016 - 2026.
Which region has highest growth rate in Annatto Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Annatto Market?
North America holds highest share in 2018.
Who are the key players in Annatto Market?
AICACOLOR, Hansen, Biocon Del Peru, AICACOLOR, DDW are the major companies operating in Annatto Market.
