The global cochineal extract market reached approximately USD 39.78 billion in 2023, marking a year-on-year growth of 9.3%. It is projected to continue expanding at a robust CAGR of 9.3% from 2023 to 2033, ultimately reaching a valuation of USD 90.91 billion by 2033.
The increasing adoption of cochineal extract across various industries—including food and beverages, pharmaceuticals, cosmetics and personal care, pet food, and textiles—is a key driver of this growth.
Among its applications, the cosmetics segment is anticipated to see a revenue increase of 10.3% during the forecast period from 2023 to 2033.
Cochineal is an insect from the Dactylopius coccus species that produces the natural food color dye known as carmine. The female insects are dried, and the dye is extracted from both the dried insects and their eggs. This extract can be used directly in food or further processed into carmines for various industries.
Used for generations as a natural dye, cochineal extract has applications in food, textiles, pharmaceuticals, and personal care products. The farming of cochineal insects primarily occurs in Peru and Mexico, where they are cultivated on a specific type of cactus, feeding on its leaves. Once harvested, the insects are dried in the sun. To create red and orange dyes, the dried cochineal, which contains 18% to 25% carminic extract, is carefully extracted using aqueous, acidic, and alcoholic solutions.
Increasing awareness of the harmful health effects of synthetic colors, along with a growing demand for natural products, is anticipated to significantly drive the growth of the cochineal extract market during the forecast period.
Competitive Landscape
Leading players are actively implementing growth strategies, including new product launches, partnerships, mergers, and acquisitions, to gain a competitive advantage in the global cochineal extract market.
Recent Developments
- In June 2022, Fermentalg and DDW Color House initiated pre- commercialization of Innovative Acid Stable Blue Natural Color.
- In January 2023, ColorMaker Industries passed the milestone of having saved 500 tonnes of greenhouse gases using alternative sources of energy generation like solar energy.
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
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Market Segments Covered in Cochineal Extract Analysis
By Grade:
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
By Application:
- Food & Beverage Processing
- Bakery, Snacks, & Cereal
- Candy/Confectionery
- Dairy
- Fruit Preparations/Fillings
- Meat, Poultry, Fish, & Eggs
- Potatoes, Pasta, & Rice
- Sauces, Soups, & Dressings
- Seasonings
- Pet Food
- Beverages
- Alcoholic Beverages
- Carbonates (Carbonated Soft Drinks)
- Tea, Coffee, & Cocoa
- Energy Drinks
- Flavored Water
- Cosmetics & Personal Care
- Lip Care
- Eye Care
- Blushes/Facial Cosmetics
- Nail Care
- Hair Care
- Textiles
- Pharmaceuticals
- Dietary Supplements
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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