Global Carmine Market


Posted July 12, 2021 by pallavivn

Global Carmine Market was valued US$17.73 Mn in 2019 and is estimated to reach US$XX Mn by 2026 at a CAGR of more than XX% during a forecast period.

 
Global Carmine Market was valued US$17.73 Mn in 2019 and is estimated to reach US$XX Mn by 2026 at a CAGR of more than XX% during a forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.


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The global carmine market is anticipated to witness sustained growth over the forecast period. Growing consumer demand for natural food colors to substitute synthetic colorants to reduce their adverse health impacts, is expected to complement market growth. Food companies aiming to be a part of the hygienic food future are investing in introduction of new food products with natural additives and development of improved formulations of carmine food color. Demand for female cochineal bugs is witnessing a growth as they are the only pure source of carmine.

Based on application, the carmine market is segmented into Beverages, Bakery & Confectionery, Dairy & Frozen Products, Meat and Oil & Fat. The dairy and frozen segment lead the carmine market in 2018 due to stringent regulatory measures introduced by concerned authorities against the use of synthetic food colors. As a result, usage of synthetic colors in dairy products such as flavored milk and flavored frozen yogurt has decreased significantly. Rising demand for the color in processed meats and meat products such as sausages and bacon is anticipated to drive the market over the forecast period. Growing use of carmine in forming a film over sausages to improve their aesthetic appeal coupled with rising demand for meat products in developed economies such as U.S. and U.K. is expected to boost market growth

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Geographically, the carmine market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to witness a significant CAGR of XX% in terms of revenue over the forecast period. Factors such as widening media exposure, consumer outrage over artificial products, improving regulatory framework, losses in market value and shares have also contributed to rapid adoption of carmine also with other natural additives by regional manufacturers. All other regions are following to contribute the growth in Carmine market.

The objective of the report is to present a comprehensive analysis of Global Carmine Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.

This Report Is Submitted By : Maximize Market Research Company

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Last Updated July 12, 2021