In 2022 the consumption of annatto is estimated to be 942 MT.
Annatto 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 is a kind of natural colors that will replace all chemical origin raw materials with eco-sustainable natural solutions. Annatto is, for the most part, commercially grown for its dye product. Virtually any yellow or orange food product may be successfully colored with annatto, which also acts as an antioxidant and can often improve the stability of a product. Annatto is especially suited for coloring dairy products such as cheese, ice cream, and yogurt, and finds further applications in popcorn (oil/butter), confectionary products, snack foods, dry mixes, and soft drinks.
Annatto is extracted from the orange colored outer coat surrounding the seeds of the shrub Bixa orellana. This plant is native to South America, India, East Africa, the Caribbean, and the Philippines. Two types of commercial annatto of different shades are available: an oil soluble extract containing bixin, and a water-soluble extract containing norbixin as a major pigment.
World consumption, estimated at about 654 MT of annatto in 2011, has been rapidly enhanced to 789 MT per year in 2015. Out of this 24.2% from North America, 21.92% from Europe and 18.40% from Japan in 2015. In the future, annatto production will show a trend of steady growth. In 2022 the consumption of annatto is estimated to be 942 MT. On product prices, the slow downward trend in recent years will be maintained in the future.
the global annatto consumption market is led by North America. Europe is the second-largest region-wise market. At present, the major manufacturers of annatto are concentrated in DDW, Hansen, FMC, WILD Flavors, Kalsec, Vinayak Ingredients, Aarkay Food Products, AICACOLOR, Biocon del Peru, Zhongda Biological and Guangzhou Qianyi.
In application, annatto downstream is wide and recently annatto has acquired increasing significance in various fields of food dye industry, fabric industry, cosmetic industry, and others. Globally, the annatto market is mainly driven by growing demand for natural and eco-friendly dyes. Food industry accounts for nearly 60.93% of total downstream consumption of annatto in global.
The global Annatto market is valued at 47 million US$ in 2017 and will reach 50 million US$ by the end of 2025, growing at a CAGR of 0.7% during 2018-2025.
Global Annatto Market Professional Survey Report 2019 is a professional and in-depth study and available exclusively through Trusted Business Insights. Annual estimates and forecasts are provided for the period 2018 through 2025. Also, a five-year historic analysis is provided for these markets in this 91 pages report.
This market report provides in-depth analytics of the Annatto industry including definition, classification, application and industry chain structure. The report focuses on global major leading industry players with information such as company profiles, product picture and specifications, sales, market share, and contact information.
Annatto market report includes an in-depth analysis of the competitive landscape of this business vertical, constituting companies like:
Aarkay Food Products
Biocon del Peru
Products Segmentation, this report displays the production, revenue, price, market share, and growth rate of each type as below:
By Industrial Application, the market can be split into:
Natural Fabric Industry
Market Segment by Regions includes:
- North America (the USA, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America
- Middle East and Africa.