Global Annatto (Bixin/Norbixin) Market: Overview
Bixa Orellana L. Annatto plant majorly grown in the tropical countries is the primary source of annatto in the form of dried seeds. Annatto has found major applications in the food industry. Annatto is used as a condiment and for food coloring (imparts red or orange color to food products and beverages). Annatto’s characteristics such as good heat stability and water and oil solubility are increasing the adoption of annatto globally. Properties such as flexibility applicability of the annatto including spices, culinary food, dairy products, dyes, cosmetic products, etc., have made annatto one of the consumer preference among other natural color ingredients. The governments of various countries have imposed stringent regulations on the use of artificial or synthetic food colors, which is expected to propel the demand for annatto, a natural form of food color, globally. The countries in Latin America such as Peru and Brazil are the leading producers of annatto. A majority of the production is exported to North America, where the demand for annatto is estimated to be high.
Global Annatto (Bixin/Norbixin) Market: Dynamics
The demand for processed food and beverage products is rising globally, creating a huge demand for food colors. Annatto is directly extracted from plants and thus does not contain any harmful chemical as that in the synthetic or artificial food colors. With the increasing preference for natural food colors in the food processing industry, government regulations towards consumption of artificial food colors is expected to drive the growth of the annatto market globally. With natural origin and coloring property, annatto has also found applications in the textile industry as a dyeing ingredient. However, annatto contains some residual proteins that may cause Ig-E mediated reaction, which is expected to restrain the growth of the global annatto market. Besides, availability of other natural food colors such as cochineal and turmeric are expected to hamper the demand for annatto globally.
Global Annatto (Bixin/Norbixin) Market: Segmentation
The global annatto market can be segmented on the basis of form as:
The global annatto market can be segmented on the basis of solubility as:
- Norbixin or Water soluble
- Bixin or Liquid soluble
The global annatto market can be segmented on the basis of the end-user industry as:
- Others (floor wax, furniture polish, etc.)
The global annatto market can be segmented on the basis of the geographic region as:
- North America
- Latin America
- Rest of Latin America
- EU – 4 (Germany, France, Italy, Spain)
- BENELUX (Belgium, Netherlands, Luxemburg)
- NORDIC (Norway, Denmark, Iceland, Sweden)
- Eastern Europe (Poland, Ukraine, Czech Rep., Etc.)
- Rest of Europe
- CIS & Russia
- Greater China
- South Korea
- ASEAN Countries
- Rest of APEJ
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
Global Annatto (Bixin/Norbixin) Market: Regional Outlook
The U.S. annatto market is expected to account for high market share among all the countries in the world, majorly driven by high production of processed food in the country. The North America annatto market is followed by Western Europe. Latin America is the major producer of annatto, but majority of the annatto is exported to North America, the primary export destination. Eastern Europe, Latin America and MEA markets are estimated to show sluggish growth for annatto market over the forecast period.
Global Annatto (Bixin/Norbixin) Market: Key Players
Examples of some of the key players in the global annatto market are:
- Wild Flavors
- FMC Corporation
- Amerilure, Inc.
- Monterey Bay Spice Co.
- Hansen Holding A/S
- Vinayak Ingredients (India) Pvt. Ltd.
- DDW The Colour House
- Kalsec Inc.
- AICA COLOR SAC
- Aarkay Food Products Ltd.
Brief Approach to the Research
Our analysis will follow a modeling-based approach and triangulation methodology to estimate the data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end users of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-checked with the supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at the regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the vegetable carbon including background and evolution
- Macroeconomic factors affecting the vegetable carbon and its potential
- Market dynamics, such as drivers, challenges, and trends in the market
- Detailed value chain analysis of the market
- The cost structure of the products and segments covered in the study of the market
- In-depth pricing analysis, by key product segments, regions and by major market participants in the market
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on
- Market Dynamics
- Market Size
- Market Segments
- Demand & Supply Trends
- Current Issues and Challenges
- Companies and Competitor Landscape
- Value Chain
Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
Highlights from the Report
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
Fact.MR offers custom research services that help clients to get specific research solutions
We are committed towards customer satisfaction and quality service.