The global cochineal extracts market is valued at USD 39,779.0 million as of 2023. The cochineal extracts market is expected to grow at a healthy CAGR of 9.3% during the forecast period and is anticipated to reach a valuation of USD 90,905.8 million by 2033. In 2022, the global cochineal extracts market had a valuation of USD 36,461.0 million.
Cochineal insects of the Dactylopius coccus species are used to extract the cochineal extract which is a substitute natural dye widely used in the food and beverages industry and cosmetics industry. Rising health concerns, coupled with regular research and innovation in the cochineal extract market, along with some other reasons lead to the surge in demand of the Cochineal Extract Market.
Explore Industry Trends and Developments in Cochineal Extracts Market Request Your Sample Report
Natural food colors are gaining momentum due to consumer demands of seeking clean-label alternatives to synthetic food coloring. This has eventually provided growth opportunities to several manufacturers to develop a diversified range of products and increase the demand for cochineal extract.
Moreover, extensive research supports potential health benefits of cochineal extract for consumers. It is leading to consumers’ increased preference in this ingredient and the manufacturers utilize this as a growth opportunity.
While using cochineal extract has many potential growth prospects, on the flip side, it also has restraints such as increased cost in the extraction and manufacturing of cochineal extract products, limited availability of the cochineal insects for extracting the ingredient, and lack of awareness about alternatives to synthetics in the market among consumers. Cochineal extract players face immense competition from other plant-based and synthetic color additives. This is expected to hinder the growth of the cochineal extract market.
Key Takeaways
- The United States market currently holds a global share of 25.6% in the cochineal extracts market.
- India is expected to continue having a steady growth at the rate of 4.6% in the forecast period.
- The cochineal extracts market in Germany experienced a healthy growth share with a value of 6.2% in 2022.
- The United Kingdom cochineal extracts market is likely to grow at a CAGR of 3.9% during the projected period.
- In 2022, Japan held 4.8% of shares in the global cochineal extracts market.
- The revenue generation in the market is expected to increase from US$ 36,461.0 million in 2022 to about US$ 90,905.8 million by the end of the forecast period in 2033.
- Australia’s cochineal extracts market was estimated to have a global share of about 2.3% in 2022.
Competitive Landscape
With an increasing need for flavor appeal in healthy and organic dyes for food products, important manufacturers are attempting to introduce the best versions of cochineal extracts in order to make the highest quality food colors.
The market is becoming highly competitive as more cochineal extracts manufacturers, both developed and emerging, incorporate this ingredient into their diversified product line.
Key Companies Profiled
BioconColors; Sensient Technologies Corporation; Gentle world; Naturex; DDW The Color House; Lake Foods; Chr Hansen Holding A/S; Naturales EIRL; ColorMaker; Xian LiSheng-Tech Co; Colores; Roha Dyechem Pvt. Ltd
Recent Development
- Lake Foods, a food processing company started in 2014, specializes in high efficiency deboning, breast portioning and customer processing.
- BioconColors, one of the leading food processing companies, in August 2023, presented a report stating that Carmine has reigned over the red zones of the color spectrum in the food and beverages sectors. Moreover, 64% of Europe’s food and beverages use carmine as the red coloring agent.
Gain Exclusive Access to Growth Strategies in Cochineal Extract Market Grab Your Essential Report
Market Segments Covered in Cochineal Extract Analysis
By Grade:
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
By Application:
- Food & Beverage Processing
- Bakery, Snacks, & Cereal
- Candy/Confectionery
- Dairy
- Fruit Preparations/Fillings
- Meat, Poultry, Fish, & Eggs
- Potatoes, Pasta, & Rice
- Sauces, Soups, & Dressings
- Seasonings
- Pet Food
- Beverages
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Tea, Coffee, & Cocoa
- Energy Drinks
- Flavored Water
- Cosmetics & Personal Care
- Lip Care
- Eye Care
- Blushes/Facial Cosmetics
- Nail Care
- Hair Care
- Textiles
- Pharmaceuticals
- Dietary Supplements
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
