Global Annatto Market Insights, Trends, Driving Factors, Focus Points, Potential Markets, Developments, Company Share Analysis, And Forecast 2019 – 2028

  • TBI351992
  • May 28, 2022
  • Global
  • 200 pages
  • IFF Market Research

Global Annatto Market 2021: By Form (Powder, Liquid), By Application (Food & Beverage, Textile, Cosmetic)

Global Annatto Market Growth Rate, Trends, Market Analysis, Applications, Growth Forecast till 2028” is a forthcoming report produced by the research analyst team of Trusted Business Insights. The report includes factors driving and hindering market growth, as well as trends and possible opportunities for existing as well as new entrants in the market. Details of major companies is also provided in the report, along with revenue, business categories, regional presence, etc. The target market is projected to be valued at US$ X Mn in 2028 and register substantial CAGR of X % over the 10-year period. The global annatto market report has been bifurcated on the basis of form, application, and region/ country.Request Covid - 19 Impact The Global Annatto market size was valued at USD $193.48 Million in 2020, USD $202.97 Million in 2021, forecasted to reach USD $212.91 Million in 2022, and is projected to reach USD $312.17 Million by 2030, and is anticipated to expand at a CAGR of 4.9% over the forecast period from 2020 to 2030.

Annatto: Product Overview

Annatto is a dried seed derived from achiote tree (Bixa Orellana L) that is mainly cultivated in South and Central America. The seed and leaf of Bixa Orellana L tree are used to make medicines. It is used as a food coloring agent and condiment in food industry and has applications in cosmetic and textile industries. Various health benefits offered by annatto are that it helps prevent cataract, helps in digestion, reduces stomach issues, and provides essential nutrients to body for strong bones.

Global Annatto Market: Driving Factors and Limiting Factors

Increasing popularity for natural food products and growing awareness among consumers regarding esthetic appeal and looks are prominent factors that are anticipated to drive global market growth. In addition, stringent rules and regulations on use of chemicals and artificial coloring, especially in food industry, is in turn estimated to result in increased demand for natural food coloring agents including annatto. This is another factor that is expected to fuel target market growth. Furthermore, increasing demand for annatto in food industry owing to its therapeutic properties such as treating gonorrhea, controlling congenital disabilities, dermal healing, and others is among some of the other factors anticipated to support revenue target market growth. Moreover, rapid industrialization, coupled with growing cosmetic and textile industries, changing lifestyles, and increasing spending capacity are factors expected to boost global market growth in the near future. However, possibilities of irritable bowel syndrome by overconsumption and allergic reactions in some individuals allergic to certain content of annatto is a major factor that could hamper the global market growth. Segment Analysis: Global Annatto Market

By Form:

Among the two segments based on form, the powder form segment is projected to register major revenue share of the global market in the next 10-year period. This is attributed to increasing usage of annatto in personal care & cosmetic products such as soaps, lotions, skincare, blush powders, etc.

By Application:

Among the three major applications, the food & beverage segment is anticipated to register highest growth rate in the target market. Increasing consumption of bakery products, culinary, beverages, dairy products include cheese, butter, etc. is a factor expected to propel segment growth in the target market.

Region Analysis for Global Annatto Market

The North America annatto market is estimated to record highest share in terms of value and is projected to continue to dominate in the next coming years. This is due to high consumption of annatto in the US and Canada countries in the region. Additionally, rising demand for natural coloring in cosmetics and textile industries is a factor expected to drive market growth of annatto in the region. The annatto market in Asia Pacific is projected to register fastest CAGR in the market owing to increasing food & beverage industry. The Latin America market is expected to register substantial growth rate, due to presence of major producer of annatto in Brazil and Peru in the region.

Below are the leading companies profiled in this Annatto Market Report:

  • Aarkay Food Products Ltd. (Gujrat, India)
  • Amerilure, Inc.
  • Archer Daniels Midland Company (Illinois, United States)
  • Biocon Colors (Bengaluru, India)
  • Biocon Del Peru
  • Chr. Hansen Holding A/S (United States)
  • Dairy Connection, Inc. (Madison, Wisconsin)
  • DDW The Colour House
  • Dohler Group (Darmstadt, Germany)
  • FMC Corporation
  • Givaudan SA (Vernier, Switzerland)
  • Guangzhou Qianyi
  • Hansen Holding A/S
  • IFC Solutions (United States)
  • Kalsec Inc. (Michigan, United States)
  • Monterey Bay Spice Co.
  • Sensient Technologies Corporation (Wisconsin, United States)
  • Vinayak Ingredients (India) Pvt. Ltd.
  • Wild Flavors
  • Zhongda Biological

Global Annatto Market Segmentation:

Segmentation by Form
  • Powder
  • Liquid
Segmentation by Application
  • Food & Beverage
  • Textile
  • Cosmetic

This research comprehensively answers the following 9 important questions:

  • Q.1. What are some of the most promising growth trends in the Annatto market worldwide?
  • Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
  • Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
  • Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Annatto market?
  • Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Annatto market?
  • Q.6.What are the emerging trends post COVID-19 reshuffle in this Annatto market and the what are reasons behind these trends and do they translate in global exploration?
  • Q.7. Who are the major global and regional players in the Annatto market? Which are the strategic initiatives key players are pursuing for business growth?
  • Q.8.Which are the competing products in Annatto market and how big of a threat do they pose for loss of market share by material or product substitution?
  • Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Annatto industry?

Chapter 1 Methodology and Scope
  • 1.1 Market definitions
  • 1.2 Base estimation & working
  • 1.2.1 North America
  • 1.2.2 Europe
  • 1.2.3 APAC
  • 1.2.4 LATAM
  • 1.2.5 MEA
  • 1.3 Forecast calculation
    • 1.3.1 COVID-19 impact calculations on industry forecast
  • 1.4 Data sources
    • 1.4.1 Primary
    • 1.4.2 Secondary
    • Paid sources
    • Public sources
  • Chapter 2 Executive Summary
  • 2.1 Annatto industry 360° synopsis, 2017 - 2028
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