Carmine Alternatives Market Outlook
Carmine alternatives are the colouring agents that are used as a replacement for carmine in food and beverage and cosmetic products. Carmine is derived using a chemical process from the inedible cochineal insects that are native to Latin America. Carmine had traditionally used in many food products such as confectionery, hard candy, yogurt, alcoholic drinks, etc. to impart a bright red to purple colour. However, the demand for natural and plant-based ingredients is surging from vegan or vegetarian customers that are looking for kosher and halal products. This has raised the search for carmine alternatives for the use in cosmetic, food and beverage products. Currently, sweet potato, red beet, black carrot, paprika, tomato, etc. are being used and further investigated for producing carmine alternatives.
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The Increasing Health Halo Around the Plant-based Products is Driving the Global Carmine Alternatives Market
The global carmine alternatives market is significantly driven by the rising consumer trend for natural and plant-based products. Carmine is produced from the ground bodies of cochineal insects using a chemical process which leads to the retained chemical and other additives in the final products and also in the food products. Moreover, the carmine is able to trigger an allergic reaction in a particular class of the population. Considering the whole buzz around the plant-based and natural products, carmine alternatives have increased market opportunity.
Carmine alternatives derived from mostly fruits and vegetables have increased demand from the developing nations due to the favourable government policies and a flourishing food and beverage industry, cosmetics and personal care products industry. The per capita consumption of food and beverage and cosmetics in Asian and Middle Eastern and African region is increasing at a significant rate. This is creating the positive outlook in the global carmine alternatives market.
Cochineal production is tempered by the fluctuating climatic conditions leading to the volatile prices of carmine. Therefore, the food and beverages and cosmetics manufacturers are turning away from carmine and are looking for carmine alternatives. These carmine alternatives are not only plant-based but also cost-effective products. Many manufacturers are investing and searching for carmine alternatives since the high and volatile prices of carmine in the global market are resulting in uncertainty.
Carmine Alternatives Market Segmentation
The carmine alternatives market can be segmented on the basis of form, source, end use, and distribution channel.
On the basis of form, the carmine alternatives market can be segmented as:
On the basis of source, the carmine alternatives market can be segmented as:
- Other Plants
On the basis of end use, the carmine alternatives market can be segmented as:
- Food and Beverage Bakery & Confectionery Dairy Alcoholic Drinks Meat Products
- Cosmetics and Personal Care Products
On the basis of distribution channel, the carmine alternatives market can be segmented as:
- Direct Sales Channel/ B2B
- Indirect Sales Channel/B2C Hypermarket/Supermarket Specialty Stores Online Retail Other Retail Format
Carmine Alternatives Market: Regional Analysis
North American and European regions are the major markets in the global carmine alternatives market. However, Asia is anticipated to witness the highest growth rate over the forecast period in the global carmine alternatives market, followed by Middle Eastern and African Market. The increasing consumption of processed food products and cosmetics due to the increasing purchasing power is driving the carmine alternatives market in these regions. The positive changes in the country’s GDP, increasing middle-class population and increasing income of the middle-class working population are affecting the purchasing power of the consumers in a positive way and creating positive outlook in the global carmine alternatives market.
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Carmine Alternatives Market: Key Participants
Some of the market participants in the carmine alternatives market are:
- Hansen A/S
- Sensient Colors LLC.
- DDW The Colour House
- Archer Daniels Midland Company
- GNT Group B.V.
- Roha Dyechem Pvt. Ltd.