Global Annatto Market - Growth, Trends, and Forecast (2018 - 2023)
|発行||Mordor Intelligence LLP||商品コード||572798|
|出版日||ページ情報||英文 110 Pages
|世界のアナトー市場：成長、動向、および予測 Global Annatto Market - Growth, Trends, and Forecast (2018 - 2023)|
|出版日: 2018年05月05日||ページ情報: 英文 110 Pages||
The global annatto market is expected to witness a CAGR of 3.5% during the forecast period 2018-2023, owing to the robust demand from the processed food industry as consumers are demanding natural coloring alternatives.
The processed food industry is undergoing a paradigm shift from artificial colors to natural annatto in a wide range of food applications. Annatto is widely used as a coloring agent in artisanal and industrial-scale operations in many processed food products, such as cheese, butter & margarine, dairy spreads, custards, cakes & other baked goods, snacks, breakfast cereals, smoked fish, sausages, and more. The market for natural colorants is expected to grow in the coming years, due to which the use of annatto will also increase, as it gives an extraordinary red/orange color, naturally. Consumers are becoming highly health-conscious and are ready to pay a premium for having natural colorants in their products. Moreover, the ban on synthetic color products trading and its manufacture in selected international markets, such as Japan and all European countries, boosted the demand for natural food color during the past decade. This trend is expected to help the growth of the annatto market.
The use of natural food colors over synthetic food colors in novel products, such as crayons and infant toys, organic textile printing, handmade paper, etc., is expected to open additional growth avenues for the market in the future. The heat stability, solubility, and flexibility of usage associated with annatto are some of the major driving factors for the annatto market.
The challenges in the global annatto market are the reported incidents of severe allergic reactions and irritable bowel syndrome due to the usage of annatto.
The global market for annatto is segmented based on type, application, and geography. Oil-based bixin dispersions of annatto obtained from milling processes are commercially more significant. Aqueous formulations of annatto based on nor-bixin are unstable in acidic solutions and can precipitate in low-pH applications. However, the major suppliers of natural color formulations have overcome this issue and have acid-stable formulations available.
North America remains at the forefront of the global annatto market. The general "health and wellness" trend will also continue to influence the demand for natural food colors in North America. The increasing government support for the adoption of natural food colors in various food & beverage applications is expected to boost the growth of the annatto market in North America. Western Europe and Asia-Pacific countries are expected to create robust demand for annatto in the years to come. Latin America is a regional hotspot of annatto production in the world.
Manufacturers and suppliers of natural colors are facing intense competition and are embarking on a blend of strategies to provide sufficient supplies of natural annatto colorings.
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