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Carmine Market Worldwide Trend Analysis and Forecast by 2022

Increasing demand from food and beverage industry owing to its unique red color is the primary market driver. Unavailability of substitutes is expected to drive product demand in the forthcoming years.

The Global Carmine Market size is expected to reach USD 26.0 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a 5.8% CAGR in terms of revenue over the forecast period.

Rising consumer awareness regarding harmful effects of synthetic food colors has resulted in increasing demand for carmine in bakery and confectionery products. In addition, use of natural colors as substitutes to synthetic red in novel beverages is expected to drive market growth over the forecast period.

Growth of food and beverage industry in developing economies, in light of increased domestic consumption, is anticipated to be a major factor driving the carmine market. Rising preference for natural food colors owing to their health benefits is expected to drive product demand from food and beverage manufacturers over the next eight years.

To Know More About Carmine Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/carmine-market

Factors such as raw material supply, price, and consumer demand, and regulatory trends widely influence the market for carmine. The insect harvesting process used for the production of carmine is laborious and requires a span of minimum three months. This results in tight raw material supply. As a result, the bargaining power of suppliers is high in the industry.

Top Players of Carmine Market:

Nestle, Kellogg’s, H.J Heinz, and ConAgra are some key players of Carmine Market.

Market Segmentation of Carmine Market:

The Global Carmine Market segmented on the basis of Application and Region.

By Application:

    Bakery & Confectionery
    Beverages
    Dairy & Frozen Products
    Meat Products
    Oil & Fat
    Fruits & Vegetables
    Other Food Products

By Region:

    North America
    Europe
    Asia Pacific
    Central & South America
    Middle East & Africa

Inquire about Carmine Market with Our Experts @ https://www.grandviewresearch.com/inquiry/1626
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