Carmine Market: Global Industry Analysis And Forecast (2023-2029)

Carmine Market size was valued at US$ 46.23 Mn. in 2022 and the total Carmine revenue is expected to grow at 6.4% from 2023 to 2029, reaching nearly US$ 71.37 Mn.
Carmine Market Overview:
Carmine is a crimson dyestuff produced from the dried carcasses of some female scale insects considered unique to tropical and subtropical America. Before the introduction of artificial coloring ingredients, carmine was often utilized in watercolours and exquisite coach-body paints. Since then, it has only been utilized when a natural color is needed, such as in croissants, confectioneries, cosmetics, water-soluble medicinal formulations, and histology stains.



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The report explores the Carmine market's segments (Form, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Carmine market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Carmine market's contemporary competitive scenario.
Carmine Market Dynamics:
The growing demand for carmine from the cosmetics industry is a major driver of the market growth.

Carmine is largely utilized in the personal care industry for lipstick, eye makeup, and lip-gloss. It is used to create a strong red hue and increase the wear ability or shading intensity of cosmetics, but it may also be used as a basis to get cooler pinks and purples without the need for artificial dyes. Though carmine is entirely natural, the lack of openness surrounding its extensive use in the cosmetics business has been a contentious issue.

There are no natural colors or dyes that create the cold, blue undertone color spectrum that Carmine adds to pink and red cosmetic items. The undertones of all-natural pigments and colors obtained from natural origins, such as iron oxides, are warm, rusty, or orange. Other natural compounds marketed as "fruit pigments" do not retain their rich and beautiful pink or red color over time. Organic has its way with them, and all-natural fruit colors turn dark in a recipe as they oxidize. Carmine is the only constant natural (although derived from a beetle) that provides the stunning variety of pinks and reds that customers want in organic beauty products.

The controversies associated with the use of carmine in consumer goods are a major restraint in the market growth.

Starbucks received backlash for utilizing the substance in their strawberry-flavored beverages, particularly from vegans and people who do not consume livestock for religious reasons. Later, Starbucks President Cliff Burrows said in a blog article that the business will switch to the lycopene, a tomato-based ingredient, and discontinue the use of carmine in its strawberry products. Campari, the Italian liqueur popular in negronis, utilized carmine dye for many years before switching to a petroleum-based artificial colorant. Some carmine companies have openly justified their usage of the chemical. Yoplait, for example, responded to a client who was worried that they were using whole bugs in 2020 through Twitter.

The health risks associated with the use of carmine are a major challenge in the market growth.

Cochineal products have also been linked to health problems, with research indicating that consumption of the chemical can trigger serious anaphylactic responses, contact sensitivities, and sometimes even asthma. The FDA began forcing carmine-containing food and cosmetics manufacturers to list the component on the label. Others argue that because carmine is fully natural, it is healthier for the ecosystem than manufactured alternatives. Coal or petroleum byproducts are frequently used to create synthetic colorings. Even the most popular food colors have been linked in studies to hyperactivity in youngsters, as well as allergic responses and other negative impacts.
Carmine Market Segment Analysis:
By End-User, the food processing companies segment is expected to grow at a CAGR of 6.6% during the forecast period. Carmine is a food color that is used to help packaged and prepared meals appear more bright and enticing. Its vibrant red hue may be found in a variety of culinary items, including confectionery, ice cream, kids' snacks, beverages, and more.

Carmine can cause serious allergic responses; hence it must be labeled as carmine or cochineal extract on the ingredient list. It is no longer classified as a natural color. Carmine has been shown in studies to elicit allergic responses by direct touch, breathing, and digestion. There have also been cases of occupational asthma caused by carmine exposures in manufacturing. According to one study, carmine food coloring preserves proteinaceous material from squashed bugs. These proteins are responsible for carmine allergy. Food allergy symptoms occur when patients with an arthropod protein allergy consume meals or use goods containing the food color.

According to research published in the Annals of Allergy, Asthma, and Immunology, carmine can cause anaphylaxis at levels of one milligram, despite the daily recommended intake of up to five milligrams per kilogram of body weight. The point is that it doesn't take much of the food coloring to cause major allergic responses. Aside from the danger of an allergic response, carmine is considered harmless because it is a natural ingredient with no known health hazards. This is not the case for some dyes, such as Red 40, which is derived from liquid hydrocarbons and coal tars and has been related to health problems such as cancer.
Carmine Market Regional Insights:
The existence of large meat processors such as Cargill has led to increased meat consumption in the United States in recent years. Demand from the United States is anticipated to be driven by increased replacement of synthetic red hues for carmine in the meat sector due to growing worries about the former's detrimental effects. In terms of sales, Europe accounted for nearly 35 percent of the market in 2021. The existence of severe restrictions in Europe limiting the use of artificial dyes in bakery and confectionaries, milk, and beverage products has prompted the acceptance of natural food coloring products e.g. carmine, carotenoids, and anthocyanin, among others, resulting in market growth.

Over the forecast period, the Asia Pacific market is expected to grow at a substantial rate in terms of revenue. Factors such as the increasing media exposure, customer fury over artificial goods, an improved regulatory environment, and changes in market value and shares have all led to regional businesses' quick embrace of carmine and other natural ingredients.

The objective of the report is to present a comprehensive analysis of the Carmine market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Carmine market dynamics, and structure by analyzing the market segments and projecting the Carmine market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Carmine market make the report investor’s guide.
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Global Carmine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 46.23 Mn.


Forecast Period 2023 to 2029 CAGR:
6.4 %
Market Size in 2029:
US $ 71.37 Mn.


 Segments Covered:
by Form
Powder
Liquid
Crystal


by Application
Dairy & Frozen Products
Food & Beverages
Cosmetics
Bakery & Confectionery
Meat Products


by End-User
Food Processing Companies
Beverage Industry
Catering Industry
Cosmetics and Pharmaceutical Industry



Carmine Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Carmine Market Key Players
1 Chr. Hansen Holding A/S
2 Naturex
3 Sensient Technologies Corporation
4 Roha Dyechem Pvt. Ltd.
5 Diana Naturals
6 DDW The Color House
7 The Hershey Company
8 GNT Group B.V.
9 BioconColors
10 ColorMaker, Inc
11 Miguz International
12 Proquimac Color S.L.
13 Sensient Colors Europe GmbH
14 Amerilure Inc.
15 Vinayak ingredients
16 Imbarex

FAQs:

1. Which is the potential market for Carmine in terms of the region?
Ans. APAC is the potential market for Carmine in terms of the region.

2. What are the challenges for new market entrants?
Ans. The health risks associated with the use of carmine are a major challenge in the market growth.

3. What is expected to drive the growth of the market in the forecast period?
Ans. The growing demand for carmine from the cosmetics industry is a major driver of the market growth.

4. What is the projected market size & growth rate of the Market?
Ans. Carmine Market size was valued at US$ 46.23 Mn. in 2022 and the total Carmine revenue is expected to grow at 6.4% from 2023 to 2029, reaching nearly US$ 71.37 Mn.

5. What segments are covered in the Market report?
Ans. The segments covered are Form, Application, End-User, and Region.