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The global carmine market is expected to grow at a CAGR of about 5% in the forecast period of 2022-2027 to reach a value of around USD 26 million by 2026.
The growing demand for carmine as pigments in the meat industry is expected to support the growth of the market in regions like North America. Since carmine is made using cochineal extract, which is obtained from female cochineal insects growing in specific climates, Latin American countries like Peru, Chile, Mexico, and others are expected to be lucrative supply markets. In the coming years, the Asia Pacific is expected to emerge as a major regional market for carmine supported by the robust growth of the food processing industry in the region.
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Carmine is a colouring extract obtained from the female cochineal insects, which thrive on Coccus cacti, growing in semi-arid climates. The pigment is magenta or pinkish red in colour, which makes it a valuable colouring agent for meat and confectioneries. Carmine is also used in pharmaceutical and cosmetic applications.
The market can be segmented on the basis of form as:
The market can be differentiated by application into:
The regional markets for carmine can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Since there is a high demand from the meat industry for colourants to make the meat look more natural, carmine is being increasingly imported into the United States of America and Europe, thus, propelling the market growth. As greater R&D takes place in this sector, there is a possibility that these colouring agents can be used with different formulations without adverse effects, which is further projected to propel the growth of the market. The market is further projected to be catalysed by the growing awareness among consumers about natural products.
Europe and North America have a high demand for colourants for food products but there are food regulations that make the import or use of synthetic colouring additives difficult. Such regulations make carmine a valued import commodity and are expected to bolster its demand in the coming years. While the endemic nature of the insects can constrain the market growth, efforts are being made to replicate conducive growth conditions in other countries for carmine production.
The report gives a detailed analysis of the following key players in the global carmine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Form, Application, Region|
|Breakup by Form||Powder, Liquid, Crystal|
|Breakup by Application||Dairy and Frozen Products, Cosmetics, Meat Products, Bakery and Confectionery, Others|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Amerilure Inc., BIOCONCOLORS, Vinayak Ingredients (India) Pvt. Ltd., Proquimac, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Carmine Market Analysis
8.1 Key Industry Highlights
8.2 Global Carmine Historical Market (2017-2021)
8.3 Global Carmine Market Forecast (2022-2027)
8.4 Global Carmine Market by Form
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.5 Global Carmine Market by Application
8.5.1 Dairy and Frozen Products
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.5.3 Meat Products
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.5.4 Bakery and Confectionery
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.6 Global Carmine Market by Region
8.6.1 Market Share
22.214.171.124 North America
126.96.36.199 Asia Pacific
188.8.131.52 Latin America
184.108.40.206 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
220.127.116.11 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
18.104.22.168 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
22.214.171.124 Saudi Arabia
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Amerilure Inc.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.3 Vinayak Ingredients (India) Pvt. Ltd.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
13 Industry Events and Developments
Additional Customisations Available
1 Manufacturing Process
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.9 Other Capital Investments
List of Figures and Tables
1. Global Carmine Market: Key Industry Highlights, 2016 and 2026
2. Global Carmine Historical Market: Breakup by Form (USD Million), 2017-2021
3. Global Carmine Market Forecast: Breakup by Form (USD Million), 2022-2027
4. Global Carmine Historical Market: Breakup by Application (USD Million), 2017-2021
5. Global Carmine Market Forecast: Breakup by Application (USD Million), 2022-2027
6. Global Carmine Historical Market: Breakup by Region (USD Million), 2017-2021
7. Global Carmine Market Forecast: Breakup by Region (USD Million), 2022-2027
8. North America Carmine Historical Market: Breakup by Country (USD Million), 2017-2021
9. North America Carmine Market Forecast: Breakup by Country (USD Million), 2022-2027
10. Europe Carmine Historical Market: Breakup by Country (USD Million), 2017-2021
11. Europe Carmine Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Asia Pacific Carmine Historical Market: Breakup by Country (USD Million), 2017-2021
13. Asia Pacific Carmine Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Latin America Carmine Historical Market: Breakup by Country (USD Million), 2017-2021
15. Latin America Carmine Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Middle East and Africa Carmine Historical Market: Breakup by Country (USD Million), 2017-2021
17. Middle East and Africa Carmine Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Global Carmine Market Structure
The global carmine market is projected to grow at a CAGR of 5% between 2021 and 2026.
The market is estimated to witness a robust growth in the forecast period of 2022-2027 to reach nearly USD 26 million by 2026.
The major drivers of the industry include the growing demand from the meat industry, increasing governmental regulations about synthetic food additives and colourants, and the rising R&D activities.
The stricter governmental regulations on synthetic food colourants and the growing demand for natural products are expected to be the key trends guiding the growth of the carmine industry.
The major forms of carmine in the market are powder, liquid, and crystal.
The leading application segments of carmine in the industry are dairy and frozen products, cosmetics, meat products, and bakery and confectionery, among others.
The leading players in this market are Amerilure Inc., BIOCONCOLORS, Vinayak Ingredients (India) Pvt. Ltd., and Proquimac, among others.
The global carmine market is primarily driven by the growing demand from the meat industry. Aided by the growing demand for natural ingredients, the industry is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 5% to reach an estimated value of USD 26 million by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on form, the market can be segmented into dairy and frozen products, cosmetics, meat products, and bakery and confectionery, among others. The major regional markets of carmine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Amerilure Inc., BIOCONCOLORS, Vinayak Ingredients (India) Pvt. Ltd., and Proquimac, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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