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Global Carmine Market Share, Analysis, Report, Outlook: By Form: Powder, Liquid, Crystal; By Application: Dairy and Frozen Products, Cosmetics, Meat Products, Bakery and Confectionery, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Carmine Market Outlook
The global carmine market is expected to grow at a CAGR of about 5% in the forecast period of 2024-2032 to reach a value of around USD 34.85 million by 2032.
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Growing Demand for Carmine as a Pigment to Support the Market Growth
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.
Carmine: Market Segmentation
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.
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The market can be segmented on the basis of form as:
- Powder
- Liquid
- Crystal
The market can be differentiated by application into:
- Dairy and Frozen Products
- Cosmetics
- Meat Products
- Bakery and Confectionery
- Others
The regional markets for carmine can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Demand from North America and Europe to Aid the Market Growth for Carmine
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.
Key Industry Players in the Global Carmine Market
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:
- Amerilure Inc.
- BIOCONCOLORS
- Vinayak Ingredients (India) Pvt. Ltd.
- Proquimac
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Form |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| 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. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
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
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Carmine Market Analysis
8.1 Key Industry Highlights
8.2 Global Carmine Historical Market (2018-2023)
8.3 Global Carmine Market Forecast (2024-2032)
8.4 Global Carmine Market by Form
8.4.1 Powder
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Liquid
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Crystal
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Carmine Market by Application
8.5.1 Dairy and Frozen Products
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Cosmetics
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Meat Products
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Bakery and Confectionery
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Carmine Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Carmine Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Carmine Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Carmine Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Carmine Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Carmine Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Amerilure Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 BIOCONCOLORS
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Vinayak Ingredients (India) Pvt. Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Proquimac
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operations Involved
2 Project Requirements and Cost Analysis
2.1 Land, Location, and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Materials
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investments
List of Key Figures and Tables
1. Global Carmine Market: Key Industry Highlights, 2018 and 2032
2. Global Carmine Historical Market: Breakup by Form (USD Million), 2018-2023
3. Global Carmine Market Forecast: Breakup by Form (USD Million), 2024-2032
4. Global Carmine Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Carmine Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Carmine Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Carmine Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Carmine Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Carmine Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Carmine Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Carmine Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Carmine Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Carmine Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Carmine Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Carmine Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Carmine Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Carmine Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Carmine Market Structure
Key Questions Answered in the Report
The global carmine market is projected to grow at a CAGR of 5% between 2024 and 2032.
The market is estimated to witness a robust growth in the forecast period of 2024-2032 to reach nearly USD 34.85 million by 2032.
The major market drivers include the rising demand for carmine in the meat sector and surging R&D activities by key players.
The stringent 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 market.
The major regions in the carmine market include the Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America.
Powder, liquid, and crystal are the major segments based on the form of carmine.
The various applications of the product 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.
Analyst Review
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 2024-2032, growing at a CAGR of 5% to reach an estimated value of USD 34.85 million by 2032.
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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