Market Overview:
The global achiote market is segmented on the basis of type, application and region. The type segment is further divided into oil-soluble, water-soluble and emulsified. The application segment is classified into food, natural fabric, cosmetic and others. The regions covered in this study are North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The global achiote market is projected to grow at a CAGR of 5.5% from 2018 to 2030. In terms of value, the market is expected to reach USD 1128 million by 2030 end from USD 814 million in 2018. Asia Pacific accounted for the largest share of the global achiote market in 2017 and it is projected to grow at the highest CAGR during the forecast period owing to rising demand for natural ingredients in food products across countries such as China and India.
Product Definition:
Achiote is a shrub or small tree with red seeds that are used to make a spice. The spice is made by grinding the seeds and adding them to food. Achiote has a peppery, slightly bitter taste and can be used in many different dishes.
Oil-Soluble:
Oil-Soluble is a natural colorant extracted from the seeds of Bixaceae family. It has been used for centuries in various parts of the world as a coloring agent in food, cosmetics and medicines. The modern use of oil-soluble consists of extracting it's beneficial components for treating certain skin diseases such as psoriasis and eczema.
The major component that gives oil-soluble its color is called carotenoids; these are antioxidants.
Water-Soluble:
Water-soluble is a natural dye derived from the seeds of annatto, a plant native to South America and parts of Africa. The color can be extracted either by steaming or solvent extraction methods. Achiote is used in food as well as animal feed products such as pet food, pharmaceuticals, paints & coatings and even cosmetics.
Application Insights:
The global achiote market has been segmented on the basis of application into food, natural fabric, cosmetic and others such as pharmaceuticals and nutraceuticals. The food application dominated the overall industry in terms of revenue share at over 55% in 2017. Achiote is used as an ingredient for making sauces, dressings & dips (SED) owing to its distinctive smoky flavor that enhances the taste of various foods including meats and vegetables. SED are widely used across restaurants, fast-food chains and casual dining venues to enhance flavors without adding strong spices or aromatics thus improving consumers¢â‚¬â„¢ perception of cuisine.
Regional Analysis:
North America was the second-largest regional market in 2017. The region is expected to maintain its dominance over the forecast period owing to increasing demand for achiote from various end-use industries, such as food and beverage, cosmetics, and others. Increasing consumer preference for ethnic foods is also one of the major factors driving product demand in this region.
The U.S., being one of the largest producers of achiote oil has an advantage over other countries in terms of price formation due to high domestic production coupled with low import costs associated with it; therefore making it more profitable for companies operating within this industry to set up their manufacturing units within this country which will further boost market growth during the forecast period.
Asia Pacific accounted for approximately 23% share in 2017 owing to rapid industrialization along with growing population especially across China.
Growth Factors:
- Increasing demand for natural food colorants: Achiote is a natural food colorant and its demand is increasing due to the growing awareness of the health benefits of natural ingredients.
- Rising popularity of Latin American cuisine: Achiote is used extensively in Latin American cuisine and its popularity is rising in other parts of the world too. This is driving the growth of the achiote market.
- Growing use in cosmetics and personal care products: Achiote has various beneficial properties and it is being increasingly used in cosmetics and personal care products, thereby propelling market growth.
- Rising demand from pharmaceutical industry: The pharmaceutical industry requires a number of ingredients for manufacturing drugs and supplements, many of which are derived from plants such as achiote plant extract that has various therapeutic properties .This is fuelling market growth significantly . 5) Technological advancements leading to increased production efficiency : With technological advancements, producers are able to produce more with less input resulting in increased production efficiency
Scope Of The Report
Report Attributes
Report Details
Report Title
Achiote Market Research Report
By Type
Oil-Soluble, Water-Soluble, Emulsified
By Application
Food, Natural Fabric, Cosmetic, Others
By Companies
DDW, Hansen, FMC BioPolymer, ADM, Kalsec, Vinayak Ingredients, Aarkay Food Products, AICA Color, BioconColors, Zhongda Biological, Imbarex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Achiote Market Report Segments:
The global Achiote market is segmented on the basis of:
Types
Oil-Soluble, Water-Soluble, Emulsified
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food, Natural Fabric, Cosmetic, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DDW
- Hansen
- FMC BioPolymer
- ADM
- Kalsec
- Vinayak Ingredients
- Aarkay Food Products
- AICA Color
- BioconColors
- Zhongda Biological
- Imbarex
Highlights of The Achiote Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Oil-Soluble
- Water-Soluble
- Emulsified
- By Application:
- Food
- Natural Fabric
- Cosmetic
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Achiote Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Achiote is a spice made from the dried, ground seeds of annatto tree. It has a reddish-brown color and a slightly bitter taste. Achiote is used as an ingredient in many Latin American dishes, such as refried beans and tamales.
Some of the major companies in the achiote market are DDW, Hansen, FMC BioPolymer, ADM, Kalsec, Vinayak Ingredients, Aarkay Food Products, AICA Color, BioconColors, Zhongda Biological, Imbarex.
The achiote market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Achiote Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Achiote Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Achiote Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Achiote Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Achiote Market Size & Forecast, 2020-2028
4.5.1 Achiote Market Size and Y-o-Y Growth
4.5.2 Achiote Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Oil-Soluble
5.2.2 Water-Soluble
5.2.3 Emulsified
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food
6.2.2 Natural Fabric
6.2.3 Cosmetic
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Achiote Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Achiote Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Oil-Soluble
9.6.2 Water-Soluble
9.6.3 Emulsified
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food
9.10.2 Natural Fabric
9.10.3 Cosmetic
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Oil-Soluble
10.6.2 Water-Soluble
10.6.3 Emulsified
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food
10.10.2 Natural Fabric
10.10.3 Cosmetic
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Oil-Soluble
11.6.2 Water-Soluble
11.6.3 Emulsified
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food
11.10.2 Natural Fabric
11.10.3 Cosmetic
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Oil-Soluble
12.6.2 Water-Soluble
12.6.3 Emulsified
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food
12.10.2 Natural Fabric
12.10.3 Cosmetic
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Oil-Soluble
13.6.2 Water-Soluble
13.6.3 Emulsified
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food
13.10.2 Natural Fabric
13.10.3 Cosmetic
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Achiote Market: Competitive Dashboard
14.2 Global Achiote Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 DDW
14.3.2 Hansen
14.3.3 FMC BioPolymer
14.3.4 ADM
14.3.5 Kalsec
14.3.6 Vinayak Ingredients
14.3.7 Aarkay Food Products
14.3.8 AICA Color
14.3.9 BioconColors
14.3.10 Zhongda Biological
14.3.11 Imbarex
