Carminic Acid Market Size, Share, Growth, and Industry Analysis, By Type (Carminic acid content: ≤6%, Carminic acid content: ≤7.5%, Carminic Acid Content: below 90%, Carminic Acid Content: above 90%), By Application (Food, Pharmaceuticals, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Carminic Acid Market Report Overview

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global carminic acid market size was USD 11 million in 2021 and market is projected to touch USD 15.37 million by 2031 at CAGR 3.4%.

The global COVID-19 pandemic has been unprecedented and staggering, with the carminic acid market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Armenian cochineal, Cochineal, and Polish cochineal are a few scale insects that naturally contain the acid (C22H20O13), a red glucosidal hydroxyanthrapurin. The acid is produced by the insects as a defense against predators. The coloring component in the pigment carmine is an aluminum salt of the acid. From at least 700 CE, Peruvian natives have been using cochineal dyes for textiles. 

A central anthraquinone structure connected to a glucose sugar molecule makes up the chemical composition of the acid. Organic chemists produced acid for the first time in a lab setting in 1991. In order to make acid, scientists genetically modified the fungus Aspergillus nodulins in 2018.

Smashing female cochineal scale bugs produces carmine. Harvested, sun-dried, and crushed insects are used. Then place it in a solution that contains acid to make carmine acid. This produces an extremely vivid red dye which may be altered with borax and perhaps other substances.

COVID-19 Impact: Mental Health Issues to Deplete Market Growth

The eruption of COVID-19 has done act as a substantial restraint on some market in 2020, as businesses have been disrupted due to global government lockdowns. COVID-19 is a contagious disease that causes flu-like symptoms such as fever, coughing, and difficulty breathing. National governments' efforts to limit transfer have led to a decrease in business growth and confined trade in goods and services, with nations entering a 'lock down' state. Carminic acid market suffered as a result of the outbreak in 2020 and 2021. Many health clinics were been affected from this because the main focus was on the respiratory issues. This same carminic acid market is expected to rebound from the shock over the forecast period.

Latest Trends

"Utilization in Food and Beverages to Intensify Market Magnification "

Bright red pigment created first from aluminum salt containing acids is called carmine, also referred to as cochineal. It is created from cochineal, a scale insect that is indigenous to tropical and subtropical areas of South America. Carmine is a popular dye that can be found in a wide variety of foods and beverages, including yogurt, pastries, juices, beverages, processed meats (such sausages or fake crab meat), and cosmetics. It is a component of many cosmetic products, including lipstick, eyeshadow, shampoo, lotion, and coatings for pills.

Carminic Acid Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into carminic acid content: ≤6%, carminic acid content: ≤7.5%, carminic acid content: below 90%, carminic acid content: above 90%

Carminic acid content: ≤6%, is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into food, pharmaceuticalsothers

Food is the leading part of the application segment

Driving Factors

"Scarcity of Environmentally Friendly Product to Boost Market Share"

The acid is created using cochineal extracts. It is not regarded as a clean-label product as a result. Customers' reactions to it as a result have been conflicted. Nonetheless, the scarcity of environmentally friendly substitutes and the reality that they are less harmful than synthetic alternatives are increasing demand from a variety of end-use sectors and hence, the carminic acid market share is expected to advance during the forecasted timeframe.

"Textile Industries to Expand Market Forwarding "

The acid is used by cochineal insects as an insect repellent. But for ages, humans have valued cochineals for their ability to produce the acid, which may be used by itself or in combination to create cochineal colors. The acid creates complexes that are known as carmine lake, carmine, crimson lake, and even eponymous cochineal when it reacts with aluminum or calcium salts1. Although some people experience adverse reactions to it, the dye is used in textiles and is a food, cosmetic, and medication colorant that has been approved by the Food and Drug Administration. Hence, the utilization in textile industries will boost the carminic acid market growth.

Restraining Factors

"Allergic Symptoms to Deplete Market Advancement "

Natural food coloring made from cochineal insects is carmine. Throughout the forecast period, the growth of the carmine market is anticipated to be constrained by its high price.

Carmine may cause allergies in certain people. Itching, inflammation, and hives are among the allergic symptoms linked to carmine. During the projected period, these responses are anticipated to limit market growth.

Carminic Acid Market Regional Insights

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"Rise in Meat Consumers to Uplift Market Growth in North America "

The major portion is attributed to North America. The carminic acid market in North America has recently been driven by rising meat consumers in the region. Due to the substitution of carmine for synthetic red pigments in dairy, frozen, as well as the bread and confectionary industries, carmine is also in great demand in North America. Due to the rising demand for natural products, Asia-Pacific is predicted to develop at the quickest rate.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• DDW COLOR (U.S.)
• Holland Ingredients (Netherland)
• COLORMAKER (U.S.)
• International Flavors＆Fragrances (U.S.)
• Biocon Del Peru (Peru)
• Proagrosur Perú (Peru)
• Natcolor Peru (Peru)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.