According to IMARC Group latest report titled “Carmine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on carmine industry size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global carmine market size reached US$ 50.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.5 Million by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Carmine, or cochineal extract, refers to a coloring extract that is obtained from the shell of the female cochineal insect. It is generally used as a food color to enhance the flavor and color of the ingredient. Carmine is prepared by precipitation and adding aluminum and calcium ions to the cochineal extract. It is utilized in cake icings, fillings, yogurt, gelatin, alcoholic beverages, gelatin desserts, meat, processed foods, candies, ice creams, etc. Carmine is commonly available in powder, crystal, and liquid forms. It is also used in makeup products, including nail polish, to improve the color vibrancy and shade intensity.
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Market Trends:
The escalating demand for colorants in the meat industry is among the key factors stimulating the carmine market. Besides this, the expanding food and beverage (F&B) sector across countries is positively influencing the global market. Furthermore, the widespread adoption of carmine in bakery and confectionery products, soft drinks, strawberries, jams, etc., is acting as another significant growth-inducing factor. Apart from this, numerous product innovations, including the introduction of vegan carmine that is used in ready-to-drink beverages, jelly gums, hard candy, etc., are propelling the market growth. Moreover, the rising requirement for personal care items is further catalyzing the global market. In line with this, the increasing popularity of carmine across the pharmaceuticals industry and the launch of favorable policies by government bodies for cost-effective carmine extraction processes are also bolstering the market growth. Additionally, easy product availability via online and offline distribution channels is anticipated to fuel the carmine market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Amerilure Inc.
- BioconColors
- Clariant AG
- Colormaker Inc.
- DyStar Singapore Pte Ltd
- Imbarex S.A.
- Proquimac Pfc Sa
- Vinayak Ingredients (INDIA) Pvt. Ltd
Carmine Market Segmentation:
Our report has categorized the market based on region, form, application and end user.
Breakup by Form:
- Powder
- Liquid
- Crystal
Breakup by Application:
- Dairy and Frozen Products
- Food and Beverages
- Cosmetics
- Bakery and Confectionery
- Meat Products
Breakup by End User:
- Food Processing Companies
- Beverage Industry
- Catering Industry
- Cosmetics and Pharmaceutical Industry
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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