Carmine Market: Introduction
Carmine market can be defined as a natural color additive extracted from the bug coccus cacti that gives food a deep, dark red color which is slightly purple. Carmine is also known as Cochineal Extract. The dye processed from the cochineal bug is collected, killed by immersion, and then dried. The shade of red color that results depends on whether it is dried using the sun, steam, or an oven. Basically, carmine is a red dye that comes from the crushed shell of female beetles. Carmine is a coloring agent which is obtained from the dried bodies and shells of a cochineal which is the aluminum lake of the coloring principle. Cochineal bug is also named “true bug”. This acid is processed further to produce the carmine, which used by several known food industries to color their food in red.
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Carmine Market: Dynamics
The global carmine market is expected to witness sustained growth over the forecast period. The growth of carmine market is driven by its wide application in the food and beverage industry is the key factor to drive the carmine market globally.
Moreover, rising application of carmine in cosmetic and pharmaceutical is anticipated to boost the carmine market in future. Other factors attributable to the high growth includes increasing health concerns, growing awareness and to reduce the usage of artificial colorants in food and beverages contributes significantly to its volume growth over the foreseeable period.
Carmine Market: Segmentation
Carmine market can be segmented on the basis of end-use industries, forms, and by regions. Based on applications, carmine is segmented into food & beverages, bakery & confectionary, cosmetics, dairy & frozen products, textile dyes, meat products, cake icing, hard candy, pharmaceuticals coating, personal care and others. Others include niche industries like crayons, floor waxes & paint manufacturers.
Dairy & frozen products are the foremost segment of carmine market due to its major use in dairy products like chocolate milk, drinking yogurt, whey-based drinks, eggnog, etc. Bakery & confectionary is the second is the second major global market after dairy & frozen products followed by cosmetic products.
Carmine is found in various cosmetics products like nail polish, eye shadow, shampoos, lipsticks, rouges, and blushes. Cosmetics segment is expected to expand at relatively high CAGR owing to the wide use of carmine in cosmetics products. Based upon forms, carmine market is segmented into powder and liquid form.
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Carmine Market: Regional Outlook
On the basis of the geographical market segment, it is segmented into seven different regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia-Pacific region, Japan and the Middle East and Africa. In regional segments, Europe is expected to hold relatively high share in terms of volume over the forecast period due to stringent regulations as the European government banned the usage of synthetic colors. North America & Asia Pacific region is expected to witness relatively high growth in the carmine market over the forecast period as increasing demand for natural colorants in food & beverage industry.
Carmine Market: Key Players
Some of the players operating in the carmine market include Amerilure, Inc., The Hershey Company, DDW Color House, Sensient Colors Europe GmbH and Proquimac, MIGUZ International, PROQUIMAC COLOR S.L. and few other regional players.
In order to meet the increasing demand of carmine, companies all over the world are expanding the product portfolio and increase the sales strategies. The companies are also focusing on different strategies in order to maintain the market share in the global carmine market.
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