Annatto Market To Boom Owing To Rising Demand From Food And Cosmetic Industries
The factors that propel the growth of the Annatto Market include increasing demand, rapid urbanization & industrialization and technological innovations.
The factors that propel the growth of the Annatto Market include increasing demand, rapid urbanization & industrialization and technological innovations.
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In addition, some of the other factors such as growing awareness regarding the harmful health effects<br />
of synthetic color agents and ban on trading of products made from artificial products. On the other<br />
hand, there are also factors that may hamper the growth of the market such as high cost and color<br />
degradation due to several external factors such as light, temperature, etc. Also, factors such as<br />
allergic nature and low stability of annatto as compared to synthetic agents.<br />
<strong>Annatto</strong> <strong>Market</strong> is classified on the basis of form, product type, pigment, applications, distribution<br />
channel and geography. <strong>Annatto</strong> <strong>Market</strong> is classified by form as powder and liquid. <strong>Annatto</strong> <strong>Market</strong><br />
is segmented by product type as emulsified annatto, oil-soluble annatto, water-soluble annatto, and<br />
others. <strong>Annatto</strong> <strong>Market</strong> is categorized by pigment as carotenoids, bixin, norbixin and others.<br />
<strong>Annatto</strong> <strong>Market</strong> is classified on applications as cosmetic industry, food industry, natural fabric<br />
industry, and others. <strong>Annatto</strong> <strong>Market</strong> is segmented by distribution channel as online stores, specialty<br />
stores and others. <strong>Annatto</strong> <strong>Market</strong> is classified on the basis of geography as North America, Latin<br />
America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa.<br />
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The North American region consists of the U.S., and Canada. Latin America region consists of Mexico<br />
and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The<br />
Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India,<br />
ASEAN, Australia & New Zealand. The Middle East and African region consists of GCC, South Africa<br />
and North Africa. By geography, North America is projected to hold a significant share of the <strong>Annatto</strong><br />
<strong>Market</strong>.<br />
Some of the key players that fuel the growth of the <strong>Annatto</strong> <strong>Market</strong> include Aarkay <strong>Food</strong> Products,<br />
AICACOLOR, Biocon del Peru, DDW, Guangzhou Qianyi, Hansen, FMC, Kalsec, Vinayak Ingredients,<br />
WILD Flavors, Zhongda Biological, and others. The key players are focusing on inorganic growth to<br />
sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are<br />
the need of the hour.
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