Annatto Market Estimated To Show Sluggish Growth Due To Increasing Preference For Natural Food Colors In Food Processing Industry

Global Annatto (Bixin/Norbixin) Market: Overview

Bixa Orellana L. Annatto plant majorly grown in the tropical countries is the primary source of Annatto Bixin/Norbixin 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.

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.

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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.

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.

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.

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Global Annatto (Bixin/Norbixin) Market: Dynamics

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

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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:

Powder
Liquid

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:

Food
Culinary
Bakery
Dairy
others
Beverage
Cosmetics
Textile
Pharmaceutical
Others (floor wax, furniture polish, etc.)

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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.

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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.

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