The global demand for Annatto Extract Market is presumed to reach the market size of nearly USD 575.72 BN by 2030 from USD 297.12 BN in 2022 with a CAGR of 8.62% under the study period 2023 - 2030.
Annatto extract is a naturally occurring pigment used as a food colour and flavour derived from the achiote tree. Annatto extract contains antioxidants, vitamins, minerals, and other vital nutrients. The fruit has hair on its exterior and has a heart-shaped form. Consequently, the crimson seeds can be harvested once the fruit has ripened and the pod has opened. Due to annatto, many industrial items have a yellow to orange colour range. The annatto extract can be made as powder, paste, or fry in the oil. Annatto extract is one of the most popular spices and natural colourings.
Annatto extract has numerous distinct health benefits, which are driving market expansion. Annatto extract is becoming increasingly popular in cooking, which is causing the annatto extract market growth. It is a healthy alternative to processed foods, and rising consumer awareness propels the annatto extract market. Many manufacturers are also turning to annatto extract and accepting it for use due to its health benefits, fueling the annatto extract market. Furthermore, there has been a significant increase in the demand for natural and plat-based components for personal care and cosmetic goods, which may lead to the growth of the annatto extract market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of annatto extract. The growth and trends of annatto extract industry provide a holistic approach to this study.
This section of the annatto extract market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Oil-Soluble Annatto
- Water-Soluble Annatto
- Emulsified Annatto
By End User
This section covers the regional outlook, which accentuates current and future demand for the Annatto Extract market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Annatto Extract Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the annatto extract market include Fiorio Colori, Sensient Technology Corporation, D.D. Williamson & Co. Inc., Naturex S.A., Kalsec Inc., Chr. Hansen Holding A/S, FMC Corporation, and Wild Flavors, among others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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