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Carmine Market
The Carmine Market is estimated to expand at a significant CAGR during the forecast period (2020-2027).
The factors driving the growth of Carmine Market includes increasing application of carmines in bakery products and cosmetic items, growing demand for natural food colorants and ingredients and rapid growth in the pharmaceutical industry. According to the report published by Statista, the Global Cosmetic Market was calculated around USD 537.7 billion in 2019 and is predicted to reach USD 758.4 billion by the end of 2025, which is expected to boost the Carmine Market size in the approaching years. Moreover, strict regulations imposed by Governments on the manufacturing of synthetic colors, rising awareness amongst consumers about the health benefits of carmines and technological innovations in the food industry, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes, growing population growth rates and rapid urbanization, are further contributing towards the market growth.
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However, the growth of Carmine Market is hindered due to high price of manufacturing natural color formulations.
The leading players operating in the market are NATUREX SA, colorMaker, Inc., Biocon Ltd., The Hershey Company, Amerilure, Inc., DDW, Inc., Roha Inc., Sensient Technologies Corporation, Proquimac PFC S.A. and Chr. Hansen Holding A/S, among others.
Based on Application, the Dairy & Frozen Products segment is predicted to capture the largest market share during the forecast period
Rise in the consumption of frozen food products such as ice creams and flavored milk and strict regulations imposed by Governments regarding the manufacturing of synthetic colors, are some of the factors responsible for the segment’s growth.
Based on End-User, Food Processing Companies segment is projected to dominate the market over the forecast period
Increasing use of carmines in processed and packaged food products for maintaining the color, is propelling the growth of the segment.
Based on Region, the North American region is expected to hold the highest market share during the forecast period
As per the Carmine Market Trends, increasing consumption of dairy and meat products, rapid growth in the cosmetic industry, rising awareness amongst consumers about the benefits of carmines, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Market Segmentation
Global Carmine Market by Form
Powder
Liquid
Crystal
Global Carmine Market by Application
Dairy & Frozen Products
Food & Beverages
Cosmetics
Bakery & Confectionary
Meat Products
Global Carmine Market by End-User
Food Processing Companies
Beverage Industry
Catering Industry
Cosmetics and Pharmaceutical Industry
Global Carmine Market by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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