In 2019, FSSAI has given a green signal to various colors as safe to be used in foods, but they have to fulfil specific criteria to be used as a food additive

According to the report, Development of New Products Using the Natural Ingredients is one of the primary growth factors for the market. Spreading Awareness of Harmful Effects of Artificial Food Colors is increasing the Demand of Natural Colors is also expected to contribute significantly to the Annatto color market. Overall, Food industry applications of Annatto color, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Pigment fraction, such as Emulsified annatto, is boosting the Annatto color market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Distribution, such as Online, is boosting the Annatto color market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Pigments, such as Bixin, is boosting the Annatto color market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Annatto color market identified that the demand is rising in many different parts of the world as "Rising Disposable Income in Developing Countries ". Furthermore, some recent industry insights like "In December 2021, Givaudan acquired DDW, The Color House, A US-based natural color company. DDW is a leading privately-held company in the natural color industry, with 12 manufacturing facilities worldwide and 315 associates. This acquisition helped company to expand its presence in Annatto color market" which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Annatto color market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Annatto color market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Annatto color market size is calculated using market estimation process, the Annatto color market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Annatto color market size has been validated using both top-down and bottom-up approaches.