World consumption, estimated at about 654 MT of annatto in 2011, has been rapidly enhanced to 789 MT per year in 2015. Out of this 24.2% from North America, 21.92% from Europe and 18.40% from Japan in 2015, the global annatto consumption market is led by North America. Europe is the second-largest region-wise market. At present, the major manufacturers of annatto are concentrated in DDW, Hansen, FMC, WILD Flavors, Kalsec, Vinayak Ingredients, Aarkay Food Products, AICACOLOR, Biocon del Peru, Zhongda Biological and Guangzhou Qianyi.
In application, annatto downstream is wide and recently annatto has acquired increasing significance in various fields of food dye industry, fabric industry, cosmetic industry and others. Globally, the annatto market is mainly driven by growing demand for natural and ecofriendly dyes. Food industry accounts for nearly 60.93% of total downstream consumption of annatto in global.
In the future, annatto production will show a trend of steady growth. In 2022 the consumption of annatto is estimated to be 942 MT. On product prices, the slow downward trend in recent years will maintain in the future.
The global Annatto market was 47 million US$ in 2018 and is expected to 50 million US$ by the end of 2025, growing at a CAGR of 0.7% between 2019 and 2025.
Global Annatto Market Overview:
The latest report published by QY Research demonstrates that the global Annatto market will showcase a steady CAGR in the coming years. The research report includes a thorough analysis of the market drivers, restraints, threats, and opportunities. It addresses the lucrative investment options for the players in the coming years. Analysts have offered market estimates at a global and a regional level. The research report is a comprehensive analysis of the various factors influencing the trajectory of the global Annatto market.
Global Annatto Market: Segmentation
The chapters on segmentation allow the readers to understand the consumer needs. It allows the business to grow with precision and accuracy. Analysts have highlighted the elements that are expected to influence the segments in the coming years. The publication segments the market on the basis of technology, services, and products. It details the revenue earned by each of these segments and their potential in the years to come.
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Global Annatto Market: Regional Segmentation
For further clarification, analysts have also segmented the market on the basis of geography. This type of segmentation allows the readers to understand the volatile political scenario in varying geographies and their impact on the global Annatto market. On the basis of geography, the global market for Annatto has been segmented into:
- The Middle East and Africa (GCC Countries and Egypt)
- North America (the United States, Mexico, and Canada)
- South America (Brazil etc.)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Global Annatto Market: Research Methodology
For a precise and accurate understanding on the market, researchers have used primary and secondary research methodologies. To-the-point questions and segregation of the data has been thoroughly carried out to help the readers with unbiased information. Secondary information has been gathered from journals, interviews, white papers, and conferences amongst others. All of the collected information has been cross-checked and verified by analysts to give the readers an authentic research report.
Global Annatto Market: Competitive Rivalry
The research report evaluates the future of the companies operating in the global Annatto market to ascertain the competitive rivalry. The report assesses the research and development statuses of these players, their expansion plans for the near future, and their financial outlooks. Analysts have also studied the merger and acquisition trends in the overall market and the strategic initiatives taken by these companies so far.
Key Players Mentioned in the Global Annatto Market Research Report:
Aarkay Food Products
Biocon del Peru
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Strategic Points Covered in TOC:
Chapter 1: Introduction, market driving force product scope, market risk, market overview, and market opportunities of the global Annatto market
Chapter 2: Evaluating the leading manufacturers of the global Annatto market which consists of its revenue, sales, and price of the products
Chapter 3: Displaying the competitive nature among key manufacturers, with market share, revenue, and sales
Chapter 4: Presenting global Annatto market by regions, market share and with revenue and sales for the projected period
Chapter 5, 6, 7, 8 and 9: To evaluate the market by segments, by countries and by manufacturers with revenue share and sales by key countries in these various regions
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