Annatto is an orange-red condiment and food coloring derived from the seeds of the achiote tree. It is often used to impart a yellow or orange color to foods, but sometimes also for its flavor and aroma. The color of annatto comes from various carotenoid pigments, mainly bixin and norbixin, found in the reddish waxy coating of the seeds.
Annatto and its extracts are now widely used in an artisanal or industrial scale as a coloring agent in many processed food products, such as cheeses, dairy spreads, butter and margarine, custards, cakes and other baked goods, potatoes, snack foods, breakfast cereals, smoked fish, sausages, and more. In these uses, annatto is a natural alternative to synthetic food coloring compounds, but it has been linked to cases of food-related allergies.
LPI (LP Information)' newest research report, the “Annatto Industry Forecast” looks at past sales and reviews total world Annatto sales in 2022, providing a comprehensive analysis by region and market sector of projected Annatto sales for 2023 through 2029. With Annatto sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Annatto industry.
This Insight Report provides a comprehensive analysis of the global Annatto lands cape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Annatto portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Annatto market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Annatto and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Electronic Grade Phosphoric Acid.
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The global Annatto market size is projected to grow from US$ 48 million in 2022 to US$ 61 million in 2029; it is expected to grow at a CAGR of 61 from 2023 to 2029.
Global Annatto key players include DDW, Hansen, FMC, AICACOLOR, Biocon del Peru, etc. Global top five manufacturers hold a share over 30%.
Asia-Pacific is the largest market, with a share about 40%, followed by Europe, and North America, both have a share about 45 percent.
In terms of product, Water-Soluble Annatto is the largest segment, with a share over 90%. And in terms of application, the largest application is Food Industrial, followed by Natural Fabric Industrial, Cosmetic Industrial, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Annatto market by product type, application, key manufacturers and key regions and countries.
Top Manufactures in Global Annatto Includes:
DDW
Hansen
FMC
WILD Flavors
Kalsec
Vinayak Ingredients
Aarkay Food Products
AICACOLOR
Biocon del Peru
Zhongda Biological
Guangzhou Qianyi
Market Segment by Type, covers:
Oil-Soluble Annatto
Water-Soluble Annatto
Emulsified Annatto
Market Segment by Applications, can be divided into:
Food Industrial
Cosmetic Industrial
Natural Fabric Industrial
Pharmaceutical Industrial
Others
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
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