Industry Background:
Achiote powder is extracted from the seeds of Bixa Orellana, commonly known as annatto. Achiote is traditionally being used for spices, food color, and medicinal purposes,s and as a commercial dye. Achiote powder is one of the used food dyes in the food and beverage industry because of its economic importance. It’s used in dairy products like cheddar, and Colby cheeses to impart color. Oil can also be extracted from achiote and used in different dishes for giving them a nice color. Apart from seeds plant leaves have medicinal properties and also used in skin disease treatment. Achiote also finds application in the cosmetics and pharmaceutical industries. It’s used in the production of skincare products especially those that involve the use of natural ingredients.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Amerilure Inc. (United States), Kalsec Inc. (United States), Sensient Technologies Corporation (United States), D.D. Williamson & Co. Inc. (United States), Givaudan SA (Switzwerland), Chr. Hansen Holding A/S Denmark), Dairy Connections Inc. (United States), Archer Daniels Midland Company (United States), Aica Color Sac (Peru) and Dohler Group (Germany) |
This growth is primarily driven by Rising Demand For Natural Colorants Products Due To Rising Regulations On Uses Of Synthetic Color Agents In Food And Other Materials By Various Governments and Growing Health Consciousness in Consumers and Rising Market Demand For Natural Products Based Cosmetics And Pharmaceutical Products.
Globally, a noticeable market trend is evident Increasing Emphasis on Ayurveda Medicines, Natural Dyes, and Natural Food Colorants The Food Products sector in the Asia Pacific, Europe, North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Amerilure Inc. (United States), Kalsec Inc. (United States), Sensient Technologies Corporation (United States), D.D. Williamson & Co. Inc. (United States), Givaudan SA (Switzwerland), Chr. Hansen Holding A/S Denmark), Dairy Connections Inc. (United States), Archer Daniels Midland Company (United States), Aica Color Sac (Peru) and Dohler Group (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The achiote powder market is more consolidated as key players in both developed and developing countries strive to strengthen their product portfolio, brand loyalty, and distribution network. Prominent players are focusing on the R&D of existing and new products to re-establish their genuineness in order to be hassle-freely commercially available. Moreover, key players are leaning on collaborations to solidify their foothold in the annatto market.
Key Developments in the Market:
In Feb 2018, Sensient Technologies Corporation had acquired the natural color business of Globe Natural, a leading natural food and ingredient company, based in Lima, Peru, owned by the Michell Group
In December 2022, Univar B.V., a subsidiary of Univar Solutions Inc., a renowned global provider of specialty ingredients and chemicals, made an exclusive agreement with Kalsec Inc., a provider of natural ingredient solutions for the food and beverage industry. Under this agreement, Univar Solutions will serve as the exclusive distributor of Kalsec's natural taste & sensory, colors, and food protection ingredient solutions for savory applications in the United Kingdom and Ireland.
Regulatory Insights:
Annatto has been recognized as a safe food coloring product and condiment by various accredited food safety authorities such as European Food Safety Authority, U.S. Food & Drug Administration, and others.
Influencing Trend:
Increasing Emphasis on Ayurveda Medicines, Natural Dyes, and Natural Food Colorants
Market Growth Drivers:
Rising Demand For Natural Colorants Products Due To Rising Regulations On Uses Of Synthetic Color Agents In Food And Other Materials By Various Governments and Growing Health Consciousness in Consumers and Rising Market Demand For Natural Products Based Cosmetics And Pharmaceutical Products
Challenges:
Highly Sensitive To Environmental Factors Such As Temperature And Light
Restraints:
High Cost and Low Stability of Achiote Powder
Opportunities:
Growth in the Natural and Plant-Based Industry to Serve Changing Consumer Preferences for Personal Care Products and Growing Research and Development in Plant Medicines Sector
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 Achiote Powder Market
- Analysis about New Entrants in Achiote Powder 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, Achiote Powder Study Sheds Light on
The Achiote Powder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Achiote Powder industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Achiote Powder 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.