Report Code: A12098 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Annatto Market
Request Now !Achiote seed extracts, also known as annatto, are one of the oldest natural dyes known to humans and are widely used in the food industry as a natural food colorant. The market's future development possibilities are projected to come from expanding applications in both the food and non-food industries. Various regional food safety authorities, including the U.S. Food and Drug Administration (FDA), the European Food Safety Authority (EFSA), and others, have recognized the product as a safe condiment and food coloring product.
COVID-19 Impact analysis
Top Impacting Factors
Market Trends
Natural Colorants' Favorable Consumption Patterns to Aid Market Growth
Food makers are putting a lot of emphasis on natural alternatives to artificial colorings and synthetic dyes, which is driving the global market. Given ingredients manufacturers' efforts to capitalize on streamlined, convenient, and customizable products that are highly fit for certain food applications, the product's future growth trajectory looks optimistic. The gradual decrease in the use of artificial colors in new product launches is evidence of favorable consumption pattern of natural colorants.
Increasing the need for natural colorants in the cosmetics industry to spur growth
Buyers' interest in natural ingredients for personal care and cosmetic goods has increased as the natural and plant-based sector has grown. Furthermore, as people are becoming more aware about the different benefits of natural beauty, the demand for natural cosmetics is increasing. As a result, cosmetic manufacturers are beginning to use natural colorants. The growing popularity of chemical-free and natural cosmetics is expected to encourage the use of natural components in the creation of various industry cosmetics, potentially increasing sales.
High costs and a lack of stability are impeding the market's expansion.
When compared to synthetic colorants like Azorubine, Allura Red, and others, annatto has a lesser stability, which is a major limiting factor for market expansion. Another problem impeding the market's rapid expansion is the product's higher cost when compared to its competitors. Furthermore, the product's hypersensitivity to environmental elements such as temperature and light, which causes color degradation, may hamper market expansion throughout the forecast period.
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Questions answered in the Report
Annatto Market Report Highlights
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Key Market Players | Hansen, Frutarom Natural Solutions BU, Kalsec, WILD Flavors, DDW, Aarkay Food Products, AICA-COLOR, Amerilure Inc, FMC, Biocon del Peru |
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