The global amaranth color market is projected to attain a total of US$ 55.5 million by 2023. In 2033, revenue is set to reach at a sum of US$ 109.4 million. Sales are likely to exhibit a 5.3% CAGR during the forecast period 2023 to 2033.
Demand for amaranth color is increasing primarily due to its natural origin and clean label appeal. Consumers are increasingly seeking food products that are free from synthetic additives, and amaranth color provides a natural alternative.
Amaranth color is commonly used as a natural food coloring agent in various food & beverage products. As consumers increasingly seek natural and plant-based alternatives to artificial colors, demand for amaranth color in the food sector has been rising.
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The global trend toward healthy and more sustainable lifestyles has further driven demand for natural and organic products, including natural colorants such as amaranth color. This demand has been particularly strong in the food, cosmetics, and personal care sectors.
Amaranth color is derived from amaranth plants, which contain bioactive compounds such as betalains and anthocyanins. These compounds have been associated with potential health benefits. A few of these include antioxidant and anti-inflammatory properties, which have further boosted its popularity.
Visual appeal of food products plays a crucial role in consumer purchasing decisions. Amaranth color might enhance the aesthetic appearance of various food items such as baked goods, cereals, snacks, and beverages.
Vibrant red hue provided by amaranth color adds visual excitement and attractiveness to these products on store shelves. There is a rising consciousness among consumers about the potential health risks associated with artificial colors.
There is an increasing preference for naturally derived coloring options such as amaranth that offer similar visual impact without compromising safety. Versatility of amaranth color allows it to be used in a wide range of applications across different segments of the food sector.
Such a flexibility might make it appropriate for manufacturers who pursue one solution that can be used in multiple product categories. These include cereals, baked goods, snacks, and beverages.
Key Takeaways from the Amaranth Color Market Report:
- The global amaranth color industry propelled at 2% CAGR during the historical period from 2018 to 2022.
- Demand for amaranth color in bakery, snacks, & cereal application is expected to achieve a CAGR of 5% in the assessment period.
- Powder form is expected to reach a valuation of US$ 60.2 million by the end of the forecast period.
- Amaranth color industry in Germany is expected to showcase a 3% CAGR and attain a market size of US$ 7.6 million in the review period.
- Amaranth industry in Canada is expected to exhibit a CAGR of 3% and reach a value of US$ 5.1 million through 2033.
“Amaranth color industry might present lucrative opportunities driven by shifting preferences for natural ingredients. Ability of manufacturers to navigate regulatory complexities while offering high-quality solutions might be crucial for their success in this competitive landscape.” – Says a lead analyst at Future Market Insights (FMI).
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Who is Winning?
Key manufacturers are developing innovative amaranth color products that are stable. They have improved shelf life, and met the growing demand for natural and clean-label alternatives. This involves developing high quality and customizable color solutions.
Key companies are also seeking natural and sustainable products. They are emphasizing the use of natural source of amaranth color extraction. This approach might align with the clean-label trend and cater to eco-conscious customers.
For instance,
- In February 2023, TRI-K Industries, Inc. introduced an innovative multi-benefit protein that provides hair protection, moisturization, and mirror-like shine. Thanks to natural proteins derived from recycled rice and baobab, along with sustainably sourced amaranth, this vegan treatment protects hair against pollution. It can also restore hair from damage caused by sunlight and oxidative stress.
Get More Valuable Insights into Amaranth Color Market Study
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global amaranth color market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the amaranth color industry based on application (into beverage, bakery, snacks, and cereals, candy/confectionery, dairy, fruit preparations/fillings, meat, poultry, fish, and eggs, potatoes, pasta, and rice, sauces, soups, and dressings, seasonings, and pet food) and form (liquid, powder and gel) across various regions.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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