Annatto Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Annatto Market segmented by Type (Oil-soluble, Water-soluble, and Emulsified), By Application (Food & Beverage, Natural Fabric Industry, and Cosmetic Industry), and Geography.

Market Snapshot

market sum
Study Period: 2016 - 2026
Base Year: 2018
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
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of MEA

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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.

trend 1

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.

trend 2

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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Oil-soluble

      2. 5.1.2 Water-soluble

      3. 5.1.3 Emulsified

    2. 5.2 By Application

      1. 5.2.1 Food & Beverage

      2. 5.2.2 Natural Fabric industry

      3. 5.2.3 Cosmetic industry

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of MEA

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Aarkay Food Products

      2. 6.4.2 AICACOLOR

      3. 6.4.3 Amerilure, Inc.

      4. 6.4.4 Biocon Del Peru

      5. 6.4.5 DDW

      6. 6.4.6 FMC

      7. 6.4.7 Hansen

      8. 6.4.8 Frutarom Natural Solutions BU

      9. 6.4.9 Kalsec

      10. 6.4.10 WILD Flavors

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Annatto Market market is studied from 2016 - 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2018.

AICACOLOR, Hansen, Biocon Del Peru, AICACOLOR, DDW are the major companies operating in Annatto Market.

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