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Download Free sampleAnnatto is an orange-red condiment and food coloring derived from the seeds of the achiote tree. It is often used to impart a yellow or orange color to foods, but sometimes also for its flavor and aroma. The color of annatto comes from various carotenoid pigments, mainly bixin and norbixin, found in the reddish waxy coating of the seeds.
Annatto and its extracts are now widely used in an artisanal or industrial scale as a coloring agent in many processed food products, such as cheeses, dairy spreads, butter and margarine, custards, cakes and other baked goods, potatoes, snack foods, breakfast cereals, smoked fish, sausages, and more. In these uses, annatto is a natural alternative to synthetic food coloring compounds, but it has been linked to cases of food-related allergies.
Annatto Oil Market aims to provide a comprehensive presentation of the global market for Annatto Oil, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Annatto Oil. Annatto Oil Market contains market size and forecasts of Annatto Oil in global, including the following market information:
Global Annatto Oil Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Annatto Oil Market Sales, 2018-2023, 2024-2029, (Tons)
Global top five Annatto Oil companies in 2022 (%)
The global Annatto Oil market was valued at US$ 47 million in 2022 and is projected to reach US$ 59 million by 2029, at a CAGR of 3.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global Annatto key players include DDW, Hansen, FMC, AICACOLOR, Biocon del Peru, etc. Global top five manufacturers hold a share over 30%.
Asia-Pacific is the largest market, with a share about 40%, followed by Europe, and North America, both have a share about 45 percent.
In terms of product, Water-Soluble Annatto is the largest segment, with a share over 90%. And in terms of application, the largest application is Food Industrial, followed by Natural Fabric Industrial, Cosmetic Industrial, etc.
We surveyed the Annatto Oil manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Annatto Oil Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (Tons)
Global Annatto Oil Market Segment Percentages, by Type, 2022 (%)
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