DUBLIN, Aug. 21, 2019 /PRNewswire/ -- The "Carmine Market by Form, Application, and End-user: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
- This study provides an in-depth analysis of the carmine industry with current and future trends to elucidate the imminent investment pockets in the market.
- It presents information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- Porter's five forces model analysis of the industry illustrates the potency of the buyers and suppliers.
- Market player positioning in the report provides a clear understanding of the position of the leading companies.
The global carmine market size was valued at $33.9 million in 2017 and is expected to grow at a CAGR of 6.7% to reach $57.5 million by 2025.
Growth in health awareness over artificial food additives and the colors used in manufacturing, rise in need for naturally extracted carmine, and technological advancements are expected to drive the growth of the market globally. Also, continuous R&D for low-cost carmine extraction by government and private companies fuel the market growth.
However, slow adoption of carmine in developing nations, lack of awareness in undeveloped nations, and high cost associated with extraction of carmine hinder the growth of the carmine market.
In 2017, the dairy & frozen products segment dominated the global carmine market, accounting for12.49 million, and is expected to grow at a notable CAGR of 7.5% during the forecast period. This is attributed due to major use in dairy products such as drinking yogurt, chocolate milk, eggnog, and whey-based drinks. The segment is also estimated to witness a healthy growth rate in the future.
The cosmetics segment is estimated to be the fastest growing segment in the application segment during the forecast period. Carmine in cosmetics is mostly used to add color vibrancy and shade intensity to makeup. In cosmetics, it is used as natural color for personal care application, makeup application, and coloring cosmetic formulas. The increase in consumption of cosmetics and personal care products by majority of women worldwide is anticipated to drive the global carmine market in future.
In 2017, by end users, the food processing companies acquired the maximum market share of 34.1owing to rise in need for natural carmine extracts for processed food and surge in health consciousness among the people globally.
The cosmetics and pharmaceutical industry is anticipated to grow with the highest CAGR of 8.4% during the forecast period (2018-2025).
By form, the powder segment dominated the overall market with 61.2% share and is expected to grow at a CAGR of 7.1% during the forecast period.
Based on region, Asia-Pacific is expected to witness the highest growth rate of 8.1% during the forecast period, owing to improvement in lifestyle, rise in health awareness, and development in regulatory framework.
Key Findings of the Carmine Market:
- Based on region, Asia-Pacific is anticipated to lead the carmine market in 2025, growing at a CAGR of 8.1%, in terms of value.
- In 2017, based on form, the powder segment occupied nearly 61% of the carmine market share.
- In 2017, based on application, the dairy & frozen products segment dominated the global market and is expected to grow at a CAGR of 7.5% during the forecast period.
- In 2017, based on end user, the food processing companies segment occupied around 34.1% of the carmine market size.
The major players profiled in the report are as follows:
- The Hershey Company
- DDW The Color House
- Sensient Colors LLC
- Chr. Hansen Holding A/S
- colorMaker, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/iejj8o
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