Rising Demand for Annatto Extract Due to Its Good Heat Stability and Solubility Drives the Annatto Extracts Market Growth

Thu, 26 November 2020 6

Annatto extract is a natural colorant obtained from the seeds of the achiote plant. The extract offers good heat stability and solubility in both oil as well as water, owing to which it has found its use in several applications, including dairy products, cosmetic products, and dye. In addition, stringent government regulations on the use of synthetic food colors have boosted the demand for annatto extracts as a food colorant.

COVID-Impact Analysis

The COVID-19 outbreak had a significant impact on the food and beverage industry. Currently, the companies engaged in the food and beverage industry are tussling with severe hurdles due to the sharp decline in consumption from the demand side. In addition, the imposed restriction measures by the government have led to the downfall in the production capacities.

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The off-premise business has taken a huge hit during the lockdown as most of the cafes, restaurants, bars, and the hotel have been shut down. The manufacturers in the industry are focusing on reshaping their business models by rerouting their business channels and tying up with various e-commerce to increase customer engagement. Unlike the off-premise sales channels, the on-premise sales channels are witnessing a spike in sales. As now, the costumers are stocking up consumer goods for isolation and quarantine. It can also be foreseen that once the lockdown is lifted the market will witness a major change in the consumer sentiments, which are now less inclined towards off-premise business channels

Key Players

  • FiorioColori
  • Sensient Technology Corporation
  • Parchem fine and specialty chemicals
  • D. Williamson and Co. Inc.
  • Naturex S.A.
  • Kalsec Inc.
  • Hansen Holding A/S
  • FMC Corporation
  • Wild Flavors

Annatto Extracts Market: Segmentation

By Pigment

  • Bixin
  • Carotenoid
  • Norxibin

By Product Type

  • Oil-Soluble Annatto
  • Water-Soluble Annatto
  • Emulsified Annatto

By End-User

  • Food
  • Cosmetic
  • Textile
  • Others

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K
  • Italy
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Argentina
  • Brazil
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Qatar
  • Oman
  • Turkey
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • The Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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