Annatto Market Share, Size, Trends, Industry Analysis Report, By Type (Oil-soluble Annatto, Water-soluble Annatto, Emulsified, and Solvent-extracted Annatto); By Application; By Region; Segment Forecast, 2023-2032

Annatto Market Share, Size, Trends, Industry Analysis Report, By Type (Oil-soluble Annatto, Water-soluble Annatto, Emulsified, and Solvent-extracted Annatto); By Application; By Region; Segment Forecast, 2023-2032

The global annattmarket size is expected treach USD 340.94 million by 2032, according ta new study by Polaris Market Research. The report “AnnattMarketShare, Size, Trends, Industry Analysis Report, By Type (Oil-soluble Annatto, Water-soluble Annatto, Emulsified, and Solvent-extracted Annatto); By Application; By Region; Segment Forecast, 2023-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

Expansion of the market is anticipated tbenefit from the rising demand from the food industry. Annattextracts are frequently used in quick service restaurants (QSR) timprove the flavor & appearance. Extracts are used in various foods, including butter, processed cheese, desserts, fillings, toppings, & pasta. These extracts can alsbe used in confectionery, ice cream, and other products. Additionally, the growing customer preference for natural food additives due trising public health concerns fuels the market expansion for annattextracts.

Furthermore, dairy product demand has increased due tthe rising global population and increased health awareness. According tthe Food and Agriculture Organization (FAO), global milk production rose 1.4% from 2018 t852 million tonnes in 2019, fueling market growth even more. The growing acceptance of lactose-free dairy products, particularly in western regions, drives market expansion.

Also, the rising demand for aging benefits drives the product's demand. For instance, in September 2019, Annatto-GGTM 150, a ground-breaking substance that promotes healthy aging, specifically muscle protein synthesis, bone health, and cellular energy production, was introduced by Designs for Health (DFH). Therefore, the demand for annattis rising as dietary supplements are demanded among the population.

Additionally, as opposed ta boost in output per person, this growth is primarily the result of an increase in the number of producing animals. Poor-quality feed sources, illnesses, restricted access tmarkets & services, and the low potential for the milk production of dairy cows are all factors that limit dairy output in many developing nations. Unlike wealthy countries, many emerging nations have hot, humid conditions unsuitable for dairy farming.

AnnattMarket Report Highlights

The oil-soluble annattsegment is expected tgrow at considerable CAGR over the forecast period. The segment is expected trise as a result of some factors, consumers are switching tnatural color additives.

The market in the North American region is anticipated texpand rapidly due tgovernments increasingly promoting the use of natural food colors in a variety of food and beverage applications.

The global players include Aarkay Food, Aicacolor, Amerilure, Biocon Del Peru, Hansen Holding, DDW, Inc., Frutarom Natural, Kalsec, Inc., Sensient Technologies, & Wild Flavors.

Polaris Market Research has segmented the AnnattMarket report based on type, application, and region:

AnnattMarket, Type Outlook (Revenue - USD Million, 2019 - 2032)

Oil-soluble Annatto

Water-soluble Annatto

Emulsified and Solvent-extracted Annatt

AnnattMarket, Application Outlook (Revenue - USD Million, 2019 - 2032)

Food Industry

Fabric Industry

Cosmetic Industry

Others

AnnattMarket, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa