Global Carmine Market Projected to Reach $80.11 Million by 2032, as Demand for Natural Colorants Soars
Dublin, April 24, 2024 (GLOBE NEWSWIRE) -- The "Global Carmine Market, Size, Forecast 2024-2032, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to * ResearchAndMarkets.com's* offering.
The carmine market is set to witness substantial growth, with an anticipated worth of approximately US$ 80.11 Million by the year 2032. A compound annual growth rate (CAGR) of 6.44% is expected between the years 2024 and 2032. This is attributed to the widespread utilization of carmine across several industries, including food and beverage, textiles, cosmetics, and pharmaceuticals.
The primary catalyst for this expansion is the surge in demand within the food and beverage sector, notably in the meat industry, where carmine is extensively used as a colorant. With the rise in consumer preference for natural and organic products, carmine's role as a natural colorant in food processing has been particularly highlighted, avoiding artificial alternatives and aligning with strict regulatory standards. *Innovations and Regional Growth*
Innovations, such as vegan carmine, are also fostering growth and creating economic significance within the beverage, confectionery, and gum industries. The European market dominates the carmine industry, indicating a robust demand that is projected to continue. With the Asia Pacific region expected to witness rapid growth, countries like China, India, Japan, and South Korea are becoming key players in the global carmine market.
*Industry Application Insights*
The oil and fat sector stands out as a significant application area for carmine, owing to its stability and solubility attributes. Likewise, the food processing industry is anticipated to see a remarkable surge, further driven by the growing adoption of carmine as a natural colorant.
*Key Industry Players*
The global carmine market comprises influential companies that are making strides in production and innovation. These market participants are contributing to the growth and expansion of the carmine market through strategic developments and investment in research and product enhancements. Their efforts are pivotal to the continued adoption of carmine across various end-use industries.
This market analysis presents an in-depth overview of the current landscape and future projections, offering valuable insights into the evolving consumer preferences and the move towards more sustainable and ethical product choices. The comprehensive breakdown by application, form, end-users, and country provide a detailed understanding of carmine's integral role in the global market.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 210
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $45.68 Million
Forecasted Market Value (USD) by 2032 $80.11 Million
Compound Annual Growth Rate 6.4%
Regions Covered Global
*Companies Featured*
· Clariant AG
· Chr. Hansen Holding A/S
· Naturex (Givaudan)
· Sensient Technologies Corporation
· The Hershey Company
· Biocon
· Amerilure
· DDW Color House
For more information about this report visit https://www.researchandmarkets.com/r/ultz05
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*Attachment*
· Global Carmine Market
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