The global cochineal extract market achieved a valuation of approximately USD 39.78 billion in 2023, with a year-on-year growth rate of 9.3%. It is anticipated to expand at a CAGR of 9.3% from 2023 to 2033, reaching USD 90.91 billion by 2033.
This growth is largely driven by the increasing use of cochineal extract across industries like food and beverages, pharmaceuticals, cosmetics and personal care, pet food, and textiles. Within these sectors, the cosmetics segment is expected to experience a notable revenue increase of 10.3% during the forecast period.
Derived from the Dactylopius coccus insect, cochineal extract is a natural dye long used across multiple industries. The dye, commonly known as carmine, is produced from the dried female insects and their eggs. Cochineal farming is concentrated in Peru and Mexico, where the insects are cultivated on cacti. As consumer demand for natural alternatives to synthetic dyes grows, the cochineal extract market is projected to benefit from heightened awareness about health and sustainability.
Competitive Landscape
Leading players are actively implementing growth strategies, including new product launches, partnerships, mergers, and acquisitions, to gain a competitive advantage in the global cochineal extract market.
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 Developments
- In June 2022, Fermentalg and DDW Color House initiated pre- commercialization of Innovative Acid Stable Blue Natural Color.
- In January 2023, ColorMaker Industries passed the milestone of having saved 500 tonnes of greenhouse gases using alternative sources of energy generation like solar energy.
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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
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