Industry Background:
Annatto colour is a food colouring which is extracted from Achiote tree. This tree is found in tropical regions of Brazil and Mexico. Sometimes it is also used for flavour and aroma. This colorant is being used for dairy products for more than 150 years. It is prepared from carotenoid pigments found in waxy coating of seeds which contains Bixin and Norbixin that gives orange and red color. The stringent regulations are available to prevent the use of artificial colorings due to which the demand of natural colors is increasing.
Attributes | Details |
---|
Study Period | 2018-202 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Givaudan (Switzerland), Chr. Hansen Holding A/S (Denmark), FMC (United States), WILD Flavors (Germany), Kalsec (United States), Vinayak Ingredients (India), Aarkay Food Products (India), AICACOLOR (United States), Biocon del Peru (United States) and Fiorio Colori (Italy) |
This growth is primarily driven by Spreading Awareness of Harmful Effects of Artificial Food Colors is increasing the Demand of Natural Colors and Health Awareness and Benefits of Annatto.
Globally, a noticeable market trend is evident Development of New Products Using the Natural Ingredients Major Vendors, such as Givaudan (Switzerland), Chr. Hansen Holding A/S (Denmark), FMC (United States), WILD Flavors (Germany), Kalsec (United States), Vinayak Ingredients (India), Aarkay Food Products (India), AICACOLOR (United States), Biocon del Peru (United States) and Fiorio Colori (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Annatto color market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In 2019, DDW the Color House, has acquired the Natural Colors business from DuPont’s Nutrition & Biosciences division.
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
Regulatory Insights:
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
Influencing Trend:
Development of New Products Using the Natural Ingredients
Market Growth Drivers:
Spreading Awareness of Harmful Effects of Artificial Food Colors is increasing the Demand of Natural Colors and Health Awareness and Benefits of Annatto
Challenges:
Consumption of Natural Colors may Cause Allergy and Compared to Synthetic Agents, Natural Colors has Less Stability
Restraints:
High Costs Associated with the Natural Colors and External Factors Such as Light and Temperature may Cause Degradation of Color
Opportunities:
Rising Disposable Income in Developing Countries and Growing E-Commerce Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Annatto color Market
- Analysis about New Entrants in Annatto color Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Annatto color Study Sheds Light on
The Annatto color Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Annatto color industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Annatto color industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.