According to a recent report by Emergen Research, the size of the worldwide carmine market is anticipated to reach USD 78.5 billion in 2030, growing at a consistent revenue CAGR of 6.7%. The consistent market revenue growth of carmine might be linked to the rise in demand for natural food components and colourants. The benefits of using natural food components and colourants are numerous.
Carmine is one of just a few colourants whose usage around the eye has been permitted by the FDA, and it is entirely natural. Due to governmental limits on artificial dyes in foods, it is the only red that is permitted for use in meals in the United States and the European Union. In the cosmetics, pharmaceutical coatings, cake icings, fillings, hard candy, icings, yoghurt, gelatin dessert, alcoholic drinks, bakery items, and cosmetics industries, carmine is used in a wide variety of products. The rise of the carmine market is anticipated to benefit businesses that provide natural food colouring, food additives, and other related spheres. This demonstrates how versatile carmine is. But throughout the projection period, there should be plenty of profitable prospects in the cosmetics segment’s carmine market.
Concerns over the health effects of artificial food additives and the colours used to make them are among the reasons driving the rise of the global carmine market. Additionally, there is a growing demand for naturally extracted carmine for processed foods as well as natural colours due to their cost-effectiveness and health benefits. Although there are a number of obstacles preventing the market from expanding, some of them include the slow adoption of carmine in emerging countries, a lack of awareness in underdeveloped countries, and the high cost of carmine extraction due to biotech methods. However, it is anticipated that future technical developments in the food industry and ongoing government and commercial R&D efforts to provide affordable carmine will open up new growth opportunities.
Some Key Highlights From the Report :
The growing demand for carmine from the cosmetics industry is a major driver of the market growth.
In the personal care sector, carmine is frequently used in lip gloss, eye makeup, and lipstick. It can be used as a base to obtain cooler pinks and purples without the use of artificial dyes, as well as to produce a strong red colour and boost the wearability or shading intensity of cosmetics. Even while carmine is perfectly natural, there has been controversy over the lack of transparency regarding its widespread use in the cosmetics industry.
Over the projection period, demand for dairy and frozen products is anticipated to increase. This is due to the strict regulatory restrictions against the use of artificial food colours that concerned authorities have put in place. As a result, artificial colouring is now used far less frequently in dairy products like flavoured milk and frozen yoghurt
Over the course of the projected period, the powder segment is anticipated to experience substantial revenue growth. This is a result of more people using carmine powder. Due to its widespread use in the food industry to give colour to goods that require a tone ranging from pink to deep red, such as sausages, syrups, sweets, jams, gums, industrial cakes, vegetable preserves, ice creams, and dairy products, such as red fruits and strawberry yoghurt or a few energy drinks and sausages, cochineal’s carmine powder is known as the best natural colouring. Products containing cochineal’s powder include meat, dairy, sweets, alcoholic beverages, pharmaceuticals, textiles, historical artworks, high-end industrial paints (for buildings with luxury design or historical), as well as high-end cosmetics (lip tints, nail polish).
Some major companies in the global market report include com, Biocon, Chr. Hansen Holding A/S, Colormaker, Inc., DDW The Color House, Naturex, Proquimac, Roha, Sensient Technologies Corporation, and The Hershey Company.
Emergen Research has segmented the global carmine market on the basis of form, application, end-use, and region:
- Form Outlook (Revenue, USD Million; 2019–2030)
- Powder
- Liquid
- Application Outlook (Revenue, USD Million; 2019–2030)
- Dairy & Frozen Products
- Food & Beverages
- Cosmetics
- Bakery & Confectionary
- Meat Products
- End-Use Outlook (Revenue, USD Million; 2019–2030)
- Food Processing Companies
- Beverage Industry
- Catering Industry
- Cosmetics & Pharmaceutical Industry
