Global Annatto Food Colors Market Growth 2023-2029

Global Annatto Food Colors Market Growth 2023-2029

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 Food Colors Industry Forecast” looks at past sales and reviews total world Annatto Food Colors sales in 2022, providing a comprehensive analysis by region and market sector of projected Annatto Food Colors sales for 2023 through 2029. With Annatto Food Colors sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Annatto Food Colors industry.

This Insight Report provides a comprehensive analysis of the global Annatto Food Colors landscape 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 Food Colors portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Annatto Food Colors market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Annatto Food Colors 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 Annatto Food Colors.

The global Annatto Food Colors market size is projected to grow from US$ 32 million in 2022 to US$ 41 million in 2029; it is expected to grow at a CAGR of 41 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 Food Colors market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Organic
Traditional

Segmentation by application
Bread
Drinks
Seasoning
Candy
Dairy Products
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
BASF SE
Hansen A/S
Aarkay Food Products
Akay Group
Sensient Technology Corporation
FMC Corporation
Plant Lipids
AVT Natural Products
Amerilure
D. Williamson & Co. Inc.
Kalsec Inc.
WILD Flavors
NATUREX Group
FoodRGB
Imbarex
MSC Co.,Ltd

Key Questions Addressed in this Report

What is the 10-year outlook for the global Annatto Food Colors market?

What factors are driving Annatto Food Colors market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Annatto Food Colors market opportunities vary by end market size?

How does Annatto Food Colors break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.