With a robust compound annual growth rate (CAGR) of 9.3% between 2022 and 2032, the global cochineal extract market is projected to reach US$ 90,905.8 million by 2032, representing a year-over-year (YoY) rise of 6.9%.
The cochineal bug, a member of the Dactylopius coccus family, provides the natural food colour for the dyecarminis. The eggs, the female insect, and the dried insect have all been coloured. To produce colour, this extract is combined with calcium or aluminium salts. Carmine is typically used to colour food and lipstick. The industries of food, textiles, pharmaceuticals, and personal care goods all employ cochineal extract in various ways. For thousands of years, it has been used as a natural colourant. Red-colored insects are raised using cochineal insect farming. According to popular belief, the cochineal bug originated in Mexico and Peru.
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Cochineal Extract Market Segmentation:
The cochineal extract market is segmented on the basis of its form, application, and region. On the basis of forms, the cochineal extract market is segmented into powders and liquid forms. The cochineal extract is available in both water-soluble as well as oil-soluble. The cochineal extract market is segmented on the basis of its applications in food and beverages, textile/fabric, cosmetics & personal care, pharmaceuticals, and others, etc.
Cochineal extract market demand is considerably high in the food and beverage market segment as it is considered as natural color option where synthetic color is prohibited, and hence demanded as a colorant in various food products such as bakery and confectionary, beverages, dairy products, etc. Thus, the food and beverages market segment is dominant market for cochineal extract. In the cosmetics & personal care market segment cochineal extract is mainly used as colorant in skin care products, lipsticks, face powders, rouges, and blushes etc. Applications of cochineal extract in fabric/ textile segment is comparatively lesser as numerous new and synthetic color dye options are being invented, however in few of the markets it’s still popular. In pharmaceutical market segment cochineal extract is basically used for color pills and ointments, however this segment comprises very small share of total market. Others market segment includes cochineal extract uses in the manufacturing of artificial flowers, paints and crimson ink.
Cochineal extract market is further segmented on the basis of regions as North America, Latin America, Asia Pacific Excluding Japan, Japan, Europe, and Middle East and Africa. Latin America is major export market of cochineal extracts, Mexico and Peru being major regional producers. In European markets France is the major importer for cochineal extract. Due to various government bans on the uses of synthetic food colorant in Japan , Japan is also a becoming major importer for cochineal extract in coming years.
Cochineal Extract Market Drivers:
Cochineal extract is in high demand in several application sectors across the world. Principle factors driving market demand are continuous rising demand natural colorants. As synthetic colorant had proven allergic and hazardous for health, natural color market demand is high. Also rising market demand for natural products based cosmetics and skin care products is becoming another market driver for cochineal extract. Various government such as Japan has banned synthetic color uses in food and beverage products, this is driving natural colorant market demands such as cochineal extracts.
Cochineal Extract Market Restrains:
Cochineal extract has no known health risks, number of people have been found to experience occupational asthma, foodand cosmetic allergies due to use of product containing cochineal extracts. Increasing vegan food culture and adoption of 100% plant food concept, many consumers are not ready to accept animal products and not preferring product labeled with cochineal extract or carmine as an ingredients. These are the main restraints for cochineal extract market.
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Cochineal Extract Market Key Players:
Maximum amount of cochineal extract is produced in Mexico and Peru and get exported into global markets. Key players operating in cochineal extract market are DDW The Color House, Gentle world, Xian LiSheng-Tech Co., Ltd, Chr. Hansen Holding A/S, Colores Naturales EIRL, Lake Foods, and many of the local Mexican and Peru market players extract the cochineal product like Earthue, Biocon del Peru.
The report covers exhaustive analysis on:
- Cochineal Extract Market Segments
- Cochineal Extract Market Dynamics
- Historical Actual Market Size, 2015 – 2016
- Cochineal Extract Market Size & Forecast 2016 to 2026
- Cochineal Extract Market Supply & Demand Value Chain
- Cochineal Extract Market Current Trends/Issues/Challenges
- Cochineal Extract Players Competition & Companies involved
- Cochineal Extract Market Technology
- Cochineal Extract Market Value Chain
- Cochineal Extract Market Drivers and Restraints
Regional analysis for Cochineal Extract Market includes
- North America
- US & Canada
- Latin America
- Brazil, Argentina & Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Russia
- Poland
- Asia Pacific
- Australia and New Zealand (ANZ)
- China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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