Anthocyanin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Anthocyanin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Anthocyanin Market is projected to register CAGR of 5.1% during the forecast period.

Anthocyanin is found in many foods, including blueberries, blackberries, raspberries, strawberries, cherries, purple grapes, beets, red cabbage, and red beans. Due to its functional properties, such as anti-allergic, anti-diabetic, anti-microbial, anti-inflammatory, and antioxidant, the market is driven by its increasing demand in the food and beverage industries. The other health benefits include reducing the risk of heart disease and respiratory disorders, which fueled the market sales.

The natural anthocyanins food colorants are responsible for colors, such as red, purple, and blue, which are found in fruits and vegetables. Berries, currants, grapes, and tropical fruits have high anthocyanin content. Also, anthocyanins are a type of flavonoid, a class of compounds with antioxidant effects. In addition to acting as antioxidants and fighting free radicals, anthocyanins may offer anti-inflammatory, anti-viral, and anti-cancer benefits. The extracted anthocyanin pigment from purple carrots is increasingly being used as an alternative natural red colorant for preparing hard candy and sweet jelly. Moreover, red carrot pigment is being used as a natural antioxidant in sunflower oil to delay rancidity of sunflower oil. Therefore, these increased application areas of anthocyanin are expected to drive the segment, hence, the players have been offering products to suit the dynamic demands of the clients, for example, NiroWell and Healthy Food Ingredients (HFI) offer their line of extracted Suntava Purple Corn ingredients powder. This extract powder has gained traction within the baking industry, as the ingredient is suitable for use as a natural color option for many clean-label applications, including snack foods and beverages.

The food and beverage industries account for the largest share of the market owing to the natural colorant with many health benefits, and the personal care sector is witnessing an increasing market growth trend. However, they are a promising alternative to synthetic food dyes as anthocyanins do not lead to side effects and toxicity if overconsumed and create no health hazards. The synthetic food dyes sector still accounts for a good share of the market owing to the lower cost and high stability compared to natural colors such as anthocyanins, chlorophyll, carotenoids, and turmeric, thus being the major factor restraining the market.

Furthermore, with the surge in the consumer market to restrict extensive usage of artificial colorants in food products, the demand for natural food colorants, including anthocyanin, is expected to grow in the forecast period. The companies are involved in product launches that include anthocyanin, thus propelling the market growth. For instance, in July 2020, Evonik launched direct-to-consumer anthocyanin supplements in Germany. The supplement is directly available to the consumers in the market and comprises of plant pigments from Scandinavian blackcurrants and bilberries. Moreover, the market studied has been witnessing increased innovation practices and product launch strategies in the market, for the natural purple-colored extracts.

Asia-Pacific has witnessed significant growth in the market owing to the shifting consumer preferences towards healthy ingredients in food, beverages, and personal care products, increasing disposable income of the middle class, and advancing investments supported by the expansions of domestic companies. China has seen considerable market growth due to evolving consumer tastes toward healthier ingredients in the cosmetics & personal care domain. For instance, According to the National Bureau of Statistics of China, China's wholesale and retail businesses sold cosmetics at retail for roughly CNY 393.6 billion in 2022. The growth of the application of anthocyanin has been on the rise and to meet the rising demand for clean-label ingredients, several ingredient companies are expanding their production capabilities and expanding into the Asia-Pacific region. Also, social media platforms are expected to be used on a large scale to increase customer base and market share, make people aware of the benefits of anthocyanin, and increase its demand in all sectors.

The anthocyanin market is highly competitive and fragmented, owing to the presence of many regional and domestic players. Emphasis is given to the companies' mergers, expansion, acquisitions, partnerships, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Some of the leading players in the market include Chr. Hansen Holding A/S, Kalsec Inc., Sensient Technologies Corporation, The Archer Daniels Midland Company, and Givaudan (DDW The Color House). For instance, Sensient Technologies Corporation acquired GlobeNatural, a Peru-based natural food and ingredient enterprise to facilitate the company's product portfolio and manufacturing capabilities, and Chr. Hansen Holding AS expanded its natural color business in North America by purchasing a manufacturing facility in Wisconsin.

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