NEWARK, Del, July 22, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights, the global indigo carmine market is projected to reach a valuation of US$ 46.9 Mn in 2022 and is further expected to grow at 4.8% between 2022 and 2032, totalling around US$ 77.4 Mn by the end of 2032. Rising usage of indigo carmine as a colouring agent or additive in food and beverage industry is a key factor driving demand for indigo carmine in the global market.
Indigo carmine has become one of the most commonly used synthetic food colouring additive across food processing industries worldwide. It is frequently used in filling fruits and baked goods to give shades of blue, purple, and indigo. Indigo carmine exhibited a sale of about 3155 metric tons in 2021 and the market assessment suggests that the demand for this food colouring agent is expected to be at approximately 5100 metric tons by 2032.
Rising disposable income in regions such as the Latin America, the Middle East, Asia Pacific, and Africa has made it easier for customers to consume more ready-to-eat packaged food products, which in turn is fuelling the usage of synthetic food colorants like indigo carmine.
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Similarly, growing demand for exotic dressings on ice creams and fancy-looking food dishes is expected to push indigo carmine sales during the forecast period.
However, competition from natural food colorants, potential allergies, side-effects, and misperceptions about synthetic colorants will restrain growth in the global indigo carmine market.
Key Takeaways from Market Study
- By application, beverages segment accounts for the largest share of 24.7% of the global indigo carmine market while as
- North America indigo carmine market is expected to register a 5.2% CAGR between 2022 and 2032.
- Indigo carmine consumption in South America accounted for US$ 7.8 Mn by value and 520 metric tonnes by volume in 2021.
- Demand for Indigo carmine food colors in India is expected to grow at 3.9% CAGR between 2022 and 2032.
- Indigo carmine market in China is anticipated to register a 4.2% CAGR during the forecast period (2022-2032).
“Manufacturers of indigo carmine food colorants would profit by targeting the sub-segments like beverages and coatings. Exploring developing economies and establishing strategic alliances with global food brands while simultaneously working on making indigo carmine colorants more miscible would help indigo carmine brands,” says a Future Market Insights analyst.
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Competitive Landscape
Leading indigo carmine manufacturers are continuously focused on enhancing the miscibility of indigo carmine to attract end-users. Besides this, they are adopting strategies such as partnerships, mergers, acquisitions etc. to gain a competitive edge in the global indigo carmine market.
Some of the prominent players identified in the global Indigo Carmine market include Chinasun Specialty Products Co. Ltd, Sensient Colors LLC, Dynamic Products Ltd., Sigma-Aldrich Co. LLC., Kelco Chemicals Co. Ltd., Tianjin Baishi Chemical Co. Ltd., Asim Products, Sunfoodtech, Beijing Hengye Zhongyuan Chemical Co. Ltd., GNT International B.V., GFS Chemicals Inc, Shanghai Dyestuffs Research Institute Co. Ltd., and TNC Chemicals Philippines Incorporated among others.
Indigo Carmine Market Taxonomy
By Type:
Type I
Type II
Type III
By Application:
Beverage
Bakery, Snacks, and Cereals
Candy/ Confectionery
Dairy
Fruit Preparations/ Fillings
Meat, Poultry, Fish, and Eggs
Potatoes, Pasta, and Rice
Sauces, Soups, and Dressings
Seasonings
Pet Food
Others
By Region:
North America
Latin America
Europe, the Middle East and Africa, and India
Asia Pacific
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s Extensive ongoing Coverage on Food and Beverage Domain
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