Registering a year-on-year (YoY) growth of 9.3%, the global cochineal extract market size reached around USD 39,779.0 million in 2023. The market is further expected to expand at a robust CAGR of 9.3% between 2023 and 2033, totaling a valuation of USD 90,905.8 million by 2033.
Increasing adoption of cochineal extract across diverse industries including food & beverages, pharmaceuticals, cosmetics and personal care, pet food, and textiles is a key factor driving growth in the global market.
Based on application, revenue for the cosmetics segment is expected to grow by 10.3% during the period of 2023 and 2033.
Cochineal is an insect belonging to the Dactylopius Coccus species that produces natural food color dye carmine. The female insect is first dried, and then dye is taken from both the dried insect and the eggs. The extract can be used directly in food and is processed further for carmines, which find application across numerous end-use industries.
Cochineal extract has been used as a natural dye for generations and has a wide range of uses in food, textiles, pharmaceuticals, and personal care items. Cochineal insect agriculture is used to raise certain insects for the production of red dye. The cochineal insect's origins may be found in Peru and Mexico.
The insects are raised on a special species of cactus plant, where they feed on the cactus leaves. After that, the insects are gathered and dried in the sun to make the extract. To make red, orange color dye, dried cochineal, which contains 18% to 25% carminic extract, is thoroughly extracted in an aqueous, acidic, and alcoholic solution.
Rising awareness about the harmful health effects of synthetic colors coupled with growing demand for natural products is expected to provide a strong thrust to the growth of the cochineal extract market during the forecast period.
According to FMI analysis BioconColors, Sensient Technologies Corporation, Gentle World, Naturex, DDW The Color House, Lake Foods, Chr Hansen Holding A/S, Naturales EIRL, ColorMaker, Xian LiSheng-Tech Co, Colores, Roha Dyechem Pvt. Ltd is identified as a key cochineal extract brand.
| Attribute | Key Statistics |
|---|---|
| Cochineal Extract Market Size (2023) | USD 39,779.0 million |
| Projected Market Size (2033) | USD 90,905.8 million |
| Value-based CAGR (2023 to 2033) | 9.3% |
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The global demand for cochineal extract market grew at a CAGR of 9.3% during the historical period of 2018 and 2022. However, with a rapid shift towards natural coloring additives, the overall demand is poised to grow at 9.3% CAGR between 2023 and 2033.
Over the years, cochineal extract has become a widely used coloring additive in food and beverages due to its safe and organic nature. It is being increasingly used by food and beverage companies as a marketing tool to increase the demand
Food and beverage firms are concentrating on customer tastes and preferences, as well as nutritional status. When it comes to impulsive buying, shapes, textures, aromas, and colors all have a part. When making purchase selections, the consumer is more concerned with visual aspects.
The color of food products is regarded as among the most appealing and remarkable features that have a direct influence on the selection, choice, and stimulation of consumers' appetites. Consumer perceptions, aspirations, and judgments are undoubtedly used to promote items. As a result, more enticing and delectable products have been given on a regular basis. Furthermore, color additives are employed to divert the consumer's attention away from the negative aspects of the food product.
Similarly, growing consumer preference for natural ingredients is prompting manufacturers of pharmaceuticals and cosmetics to use cochineal extract in their products. Thus, increasing sales of these products will eventually boost market growth during the assessment period.
Cochineal Dyes Gaining Popularity Due to Strict Artificial Colorant Restrictions
Natural dyes and pigments saw a decline after the invention of synthetic colorants in the early twentieth century. However, with rising awareness about the various side effects of these synthetic colors, various governments, and regulatory organizations have introduced regulations to reduce the usage of these colors, especially in food and beverage products. This will continue to encourage the adoption of natural colors like cochineal extract during the forecast period.
Most artificial color additives are harmful and dangerous, but natural color additives are extremely healthy since they include a wide variety of necessary elements.
Natural food color additives have risen in popularity as a result of new limitations on chemical compositions in artificial color additives, making cochineal insect production economical once more. Following the introduction of the International Organization for Standardization 22000, the marketplace for food color additives has seen substantial changes, resulting in improved food safety. Several synthetic color additives have been prohibited by major regulatory authorities such as the European Food Safety Authority and the FDA.
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The demand for cochineal extract is projected to be hampered by a wide range of synthetic and natural color additive solutions.
Lycopene, spirulina extracts, Paprika oleoresin, carotenoids, turmeric oleoresin, chlorophyll, and oenocyanin among others, are being used as natural color enhancers by industries. Increasing usage of these coloring additives will therefore negatively impact the global cochineal extract market during the forecast period.
Changing Consumer Desire for Natural Ingredients Pushing Cochineal Extract Sales in the United States
The United States cochineal extract market is poised to grow at a robust pace during the forecast period, owing to the changing consumer preference for natural ingredients and increased consumption of cochineal extract from food manufacturing industries.
Customers in the country typically purchase ready-to-eat packaged food rather than a traditional meal, resulting in an increase in ready-meal demand. Furthermore, numerous big food processing firms are expanding their portfolios with natural ingredients to entice a larger customer base in order to acquire a larger market share. A notable trend identified is the growing desire for natural ingredients and components in packaged meals.
Similarly, increasing adoption of cochineal extract across industries such as pharmaceutical and cosmetics, and personal care is expected to boost market growth in the United States, during the assessment period.
Increasing Consumption of Packed Foods and Pharmaceuticals to Propel Demand for Cochineal Extract in China
As per FMI, demand for cochineal extract across China is slated to grow at a healthy pace between 2022 and 2032, owing to the robust growth of packaged food industry due to the rapidly growing population, changing lifestyles, and increasing disposable income.
Over the years, there has been a sharp rise in the production and consumption of packaged food products and pharmaceuticals with natural color additives across fast-growing nations like China and India, and this trend is likely to continue during the forecast period.
Both manufacturers and consumers have become aware of the side effects of synthetic colors. As a result, they are rapidly shifting their preference towards natural colors like cochineal extracts. This will continue to boost market growth in China over the next ten years.
Cochineal extract is being used to produce medications more visually pleasing and to divert customers from disagreeable aspects of the items, such as a foul taste or smell. Thus, increasing usage of cochineal extract by leading pharma companies in China is expected to foster market growth.
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Demand for Cochineal Extract to Remain High in Food and Beverage Processing Sector
Based on application, the food and beverage processing segment are likely to dominate the global cochineal extract market, accounting for the largest revenue share during the assessment period. This can be attributed to the rapidly expanding food and beverage industry, rising consumer spending on processed foods and beverages, and growing preference for natural food colors due to their various health benefits. However, revenue for the cosmetics segment is expected to grow by 10.3% during the period of 2022 and 2032, making it the fastest-growing segment.
Leading players are continuously adopting growth strategies such as new product launches, partnerships, mergers, acquisitions, etc. to gain a competitive edge in the global cochineal extract market.
Naturex, DDW The Color House, and Chr. Hasen - Letting Nature Color Your Imagination with Sense Color
Naturex, DDW The Color House, and Chr. Hasen are the leading provider of natural colors including cochineal extract. Naturex has over 40 years of experience in plant extraction and natural ingredient creation to satisfy the expectations of industrial clients in generating efficient and specialized solutions for the food, health, and beauty industries. For Instance, In December 2019, Turmipure Gold, a highly bioavailable natural turmeric extract from Naturex, received GRAS (Generally Recognized as Safe) certification. The Expert Panel unanimously decided that Turmipure Gold is regarded as safe in a wide range of food categories, including drinks, at both intuitive and effective levels.
Similarly, in June 2019, Naturex, already known for its comprehensive offering of coloring foods, strengthened its range of coloring foods with Vegebrite Ultimate Spirulina, a new extraction line.
DDW The Color House is another key player in the industry. The company strives to give stunning natural food color solutions and technological expertise to customers in order to assist them in developing profitable, consumer-relevant goods. The French microalgae bioindustry specialist, recently announced that it has accomplished the final technical milestone in the scale-up of Galdieria Blue Extract [1]- The acid-stable natural blue food color created in collaboration with DDW, a subsidiary of Givaudan.
The company is using strategies such as partnerships and acquisitions to improve its revenue share. For Instance, in December 2021, DDW, The Color House, announced that Givaudan has completed its acquisition. This purchase positions Givaudan to become a worldwide player in natural colors, in line with its 2025 objective to diversify its global Taste & Well-being business.
Another leading manufacturer and supplier of cochineal extract is Chr. Hansen. The firm is dedicated to promoting the use of natural ingredients and bioscience solutions in order to promote more sustainable agriculture, improve human and animal welfare, and minimize food waste. Chr Hansen is continuously exploring ways to stabilize the supply of cochineal, the raw material used to make natural red color carmine.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 39,779.0 million |
| Projected market Size (2033) | USD 90,905.8 million |
| Anticipated Growth Rate (2023 to 2033) | 9.3% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | MT for Volume and USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Argentina, Rest of LATAM, EU-4, United Kingdom, BENELUX, Nordic, Russia, Poland, Rest of Europe, China, Japan, South Korea, India, Thailand, Indonesia, Singapore, Rest of South Asia. |
| Key Market Segments Covered | Grade, Application, Region |
| Key Companies Profiled | BioconColors; Sensient Technologies Corporation; Gentle world; Naturex; DDW The Color House; Lake Foods; Chr Hansen Holding A/S; Naturales EIRL; ColorMaker; Xian LiSheng-Tech Co; Colores; Roha Dyechem Pvt. Ltd |
The Asia Pacific region is projected to emerge as a lucrative market for cochineal extract.
The growth potential of the cochineal extract market is 9.3% through 2033.
The high cost of raw materials is likely to limit market growth.
North America is likely to generate 20% revenue in 2023.
The market will generate USD 90,905.8 million in revenue in 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Grade 5.1. Food Grade 5.2. Pharmaceutical Grade 5.3. Industrial Grade 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food & Beverage Processing 6.1.1. Bakery, Snacks, & Cereal 6.1.2. Candy/Confectionery 6.1.3. Dairy 6.1.4. Fruit Preparations/Fillings 6.1.5. Meat, Poultry, Fish, & Eggs 6.1.6. Potatoes, Pasta, & Rice 6.1.7. Sauces, Soups, & Dressings 6.1.8. Seasonings 6.2. Pet Food 6.3. Beverages 6.3.1. Alcoholic Beverages 6.3.2. Carbonates (Carbonated Soft Drinks) 6.3.3. Tea, Coffee, & Cocoa 6.3.4. Energy Drinks 6.3.5. Flavored Water 6.4. Cosmetics & Personal Care 6.4.1. Lip Care 6.4.2. Eye Care 6.4.3. Blushes/Facial Cosmetics 6.4.4. Nail Care 6.4.5. Hair Care 6.5. Textiles 6.6. Pharmaceuticals 6.7. Dietary Supplements 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. BioconColors 17.2. Sensient Technologies Corporation 17.3. Gentle world 17.4. Naturex 17.5. DDW The Color House 17.6. Lake Foods 17.7. Chr Hansen Holding A/S 17.8. Naturales EIRL 17.9. ColorMaker 17.10. Xian LiSheng-Tech Co 17.11. Colores 17.12. Roha Dyechem Pvt. Ltd 18. Assumptions & Acronyms Used 19. Research Methodology
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Cochineal Extract Market
