The global carmine market size reached US$ 54.1 Million in 2023. Looking forward, the market is projected to reach US$ 88.9 Million by 2032, exhibiting a growth rate (CAGR) of 5.67% during 2023-2032.
Carmine or cochineal extract, a red or purplish-red pigment, is a coloring extract obtained from the shell of the female cochineal insect. It is commonly used as a food color to enhance the flavor and color of the ingredient. It is prepared by precipitation and adding aluminum and calcium ions to the cochineal extract. Carmine is widely used in cake icings, fillings, yogurt, gelatin, alcoholic beverages, gelatin desserts, meat, processed foods, candies, and ice-creams. It is commonly available in powder, crystal, and liquid forms. It is also used in makeup products, such as nail polish, to enhance the color vibrancy and shade intensity. As a result, carmine finds extensive application across various industries, such as pharmaceuticals, cosmetics and personal care, and food and beverage.
In addition to this, the rising demand for cosmetics and personal care products is positively impacting the market growth. Other factors, such as the growing demand for carmine across the pharmaceutical industry, the implementation of various government initiatives across nations for cost-effective carmine extraction, and the rising product demand for the manufacturing of processed foods, are creating a positive outlook for the market.
2. What is the expected growth rate of the global carmine market during 2024-2032?
3. What are the key factors driving the global carmine market?
4. What has been the impact of COVID-19 on the global carmine market?
5. What is the breakup of the global carmine market based on the form?
6. What is the breakup of the global carmine market based on the application?
7. What are the key regions in the global carmine market?
8. Who are the key players/companies in the global carmine market?
Carmine or cochineal extract, a red or purplish-red pigment, is a coloring extract obtained from the shell of the female cochineal insect. It is commonly used as a food color to enhance the flavor and color of the ingredient. It is prepared by precipitation and adding aluminum and calcium ions to the cochineal extract. Carmine is widely used in cake icings, fillings, yogurt, gelatin, alcoholic beverages, gelatin desserts, meat, processed foods, candies, and ice-creams. It is commonly available in powder, crystal, and liquid forms. It is also used in makeup products, such as nail polish, to enhance the color vibrancy and shade intensity. As a result, carmine finds extensive application across various industries, such as pharmaceuticals, cosmetics and personal care, and food and beverage.
Carmine Market Trends
Significant expansion in the food and beverage industry across the globe is one of the key factors driving the market growth. Carmine is widely used in bakery and confectionery products, soft drinks, strawberries, and jams. In line with this, the increasing demand for colorants from the meat industry is favoring the market growth. Moreover, various product innovations, such as the launch of vegan carmine that is widely used in ready-to-drink-beverages, jelly gums, and hard candy, are providing a considerable boost to the market growth.In addition to this, the rising demand for cosmetics and personal care products is positively impacting the market growth. Other factors, such as the growing demand for carmine across the pharmaceutical industry, the implementation of various government initiatives across nations for cost-effective carmine extraction, and the rising product demand for the manufacturing of processed foods, are creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global carmine market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on form, application and end user.Breakup by Form:
- Powder
- Liquid
- Crystal
Breakup by Application:
- Dairy and Frozen Products
- Food and Beverages
- Cosmetics
- Bakery and Confectionery
- Meat Products
Breakup by End User:
- Food Processing Companies
- Beverage Industry
- Catering Industry
- Cosmetics and Pharmaceutical Industry
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amerilure Inc., BioconColors, Clariant AG, Colormaker Inc., DyStar Singapore Pte Ltd, Imbarex S.A., Proquimac Pfc Sa and Vinayak Ingredients (INDIA) Pvt. Ltd.Key Questions Answered in This Report
1. What was the size of the global carmine market in 2023?2. What is the expected growth rate of the global carmine market during 2024-2032?
3. What are the key factors driving the global carmine market?
4. What has been the impact of COVID-19 on the global carmine market?
5. What is the breakup of the global carmine market based on the form?
6. What is the breakup of the global carmine market based on the application?
7. What are the key regions in the global carmine market?
8. Who are the key players/companies in the global carmine market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Carmine Market
6 Market Breakup by Form
7 Market Breakup by Application
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amerilure Inc.
- BioconColors
- Clariant AG
- Colormaker Inc.
- DyStar Singapore Pte Ltd
- Imbarex S.A.
- Proquimac Pfc Sa
- Vinayak Ingredients (INDIA) Pvt. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 54.1 Million |
| Forecasted Market Value ( USD | $ 88.9 Million |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
