According to IMARC Group latest report titled “Carmine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on carmine market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global carmine market reached a value of US$ 47.2 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 68.5 Million by 2027 exhibiting a CAGR of 6.10% during 2022-2027.
Carmine, also known as cochineal extract, refers to a red or purplish-red pigment that is a coloring extract procured from the shell of the female cochineal insect. It is manufactured by precipitation and adding aluminum as well as calcium ions to the cochineal extract. Carmine is widely available in the powder, crystal, and liquid forms. It is commonly utilized as a food color to improve the flavor and appearance of the ingredient. Carmine is also used in cake icings, fillings, yogurt, gelatin, meat, processed foods, candies, ice-creams, alcoholic beverages, gelatin desserts, etc. Consequently, it finds several applications across numerous sectors, such as pharmaceutical, personal care, food and beverage (F&B), etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The expanding F&B industry across the globe is one of the primary factors driving the carmine market. In line with this, the increasing utilization of carmine in bakery and confectionery items, soft drinks, jams, etc., is further catalyzing the market growth. Moreover, the escalating demand for colorants in the meat industry is acting as another significant growth-inducing factor. Apart from this, various product innovations, including the launch of vegan carmine that is widely utilized in ready-to-drink (RTD) beverages, jelly gums, and hard candy, are also positively influencing the global market. Additionally, the inflating investments in R&D activities aimed at developing cost-effective carmine extraction processes are projected to propel the carmine market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Carmine Market Segmentation:
Our report has categorized the market based on region, form, application and end user.
Breakup by Form:
Breakup by Application:
Breakup by End User:
Breakup by Region:
Key highlights of the report:
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