Annatto seeds and extracts have been in use for over a century in Europe and North America to impart a yellow-to-red color to foods, especially dairy products such as cheddar and Colby cheeses. The worldwide annatto market is valued at USD 227.53 Million in the year 2022. Further, this market is anticipated to rise to USD 370.62 Million by end of 2032. The market is expected to grow with a CAGR of 5% in the forecast duration (2022-2032).
Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Annatto market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting market growth.
Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Annatto market.
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Key Companies Profiled
- BioconColors,
- Amerilure Inc.,
- Kalsec Inc.,
- Sensient Technologies Corporation,
- D.D. Williamson & Co. Inc.
- ADM (Wild Flavors)
Key findings of the Annatto market study:
- Regional breakdown of the Annatto market based on predefined taxonomy.
- Innovative manufacturing processes implemented by Annatto vendors in detail.
- Region-wise and country-wise fragmentation of the Annatto market to grasp the revenue, and growth outlook in these areas.
- Changing preferences among consumers across various regions and countries.
- Factors (Positive and Negative) impacting the growth of the global Annatto market.
Competitive landscape
The key companies in the annatto market are increasing their portfolio and distribution network to lead in the market. The research and development of present and novel products are regulated by the food regulation authorities. The key market players in the industry are opting for collaborations due to an increase in market strength and prominence.
Mergers and strategic acquisitions are commonly opted by industry players to increase their market penetration. The company Givaudan SA had an acquisition with Activ international in 2017 which was intended to increase the product range of flavors and organic colorants. Companies focusing on product innovation and pricing policies are likely to gain a dominant share in the annatto market in the forecast period.
Recent developments
- In 2018, FMC Corporation and Hansen, announced a five-year extension of their collaboration to develop and commercialize natural solutions for the agricultural industry.
- In Feb 2018, Sentient Technologies Corporation announced that it has reached a definitive agreement to acquire the natural color business of GlobeNatural, a leading natural food and ingredient company, based in Lima, Peru, owned by the Michell Group.
Global Annatto Market: Segmentation
- By Nature
- Organic
- Conventional
- By Form
- Raw
- Processed
- Liquid
- Powder
- Extract
- By Product Type
- Annatto – Bixin
- Annatto – Norbixin
- By End Users
- Food Industry
- Cosmetic
- Retail
- By Distribution Channel
- Direct
- Indirect
- Supermarket/Hypermarket
- Convenience Store
- Specialty Store
- E-Retailers
- By Region
- North America
- Latin America
- Europe
- CIS & Russia
- Japan
- APEX
- Middle East & Africa
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Queries addressed in the Annatto market report:
- Why are the Annatto market players targeting region for increased product sales?
- What patented technologies are the players utilizing in the global Annatto market?
- Which regions are displaying the fastest growth in the Annatto market?
- What are the underlying micro-macroeconomic factors affecting the global Annatto market?
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