Cochineal Extract Market: Latin America to Represent a Major Exporter

Growing need for food, medicine and textile colorants is further expected to rev up demand for the cochineal extract. Moreover, increasing demand for cosmetic products such as lipstick is expected to impact growth of the global cochineal extract market positively. Future Market Research projects that the global cochineal extract market is expected to register a healthy growth over the forecast period, 2016-2026.

Market Dynamics: Growth of the global cochineal extract market is mainly bound to various macro-economic and micro-economic factors. Increasing demand for natural colorants among the personal care, food and textile manufacturers has led to an upsurge in demand for cochineal extract globally. The dye extracted from the cochineal insect and its eggs is increasingly mixed with the aluminum and calcium salts in order to be used as dye in various industries. The dried cochineal mainly contain 17% – 24% of the carminic acid, which is further extracted carefully in an alcoholic, acidic and aqueous solution in order to produce orange and red color dye. These factors are expected to impact growth of the global cochineal extract market positively during the forecast period.

Segmentation Analysis  

The global cochineal extract market is expected to be segmented on the basis of application, region and form. In terms of form segment, the global market is segmented as liquid and powders form. Among various forms, the cochineal extract is increasingly available in the oil and water soluble forms in the global market. On the basis of application, the global market is mainly segmented as textile/fabric, pharmaceutical, food and beverages and pharmaceutical. The food and beverages market segment is expected to register significant growth in the global market. The cochineal extracts witness more preference over the synthetic food colors as the cochineal extract dye is natural. Attributed to these factors, the cochineal extracts witness considerable demand for food products including beverages, bakery and confectionary, and dairy products. The food and beverages market segment among other segments is expected to remain dominant in the global market during the forecast period.

The cochineal extract is expected to witness significant demand in the cosmetic products including face powder, skin care, blushes, lipsticks and rouges. The fabric/textile market among other segments is expected to witness less demand as compared to various new synthetic and color dye options that are being offered in the global market. The cochineal extracts are also used in the pharmaceutical market segment and is increasingly used in the ointments and pills. However, the pharmaceutical segment comprise a small part of the global market. The others segment in the global cochineal extract market include manufacturing crimson ink, artificial flowers and paints.

Regional Analysis: On the basis of region, the global cochineal extract market is segmented as APEJ, North America, Japan, Latin America, MEA and Europe. The cochineal extract market in Latin America is expected to remain a leading exporter of the cochineal extract globally, however Peru and Mexico will continue to remain the major producers of the cochineal extracts. Moreover, France among other countries of Europe will continue to a leading importer of the cochineal extract in the global market. However, attributed to various restriction by the government, the cochineal extracts are mainly imported in Japan.

Market Players: Leading market players in the global cochineal extract market include Gentle world, DDW The Color House, Chr. Hansen Holding A/S, Xian LiSheng-Tech Co., Ltd, Lake Foods and Colores Naturales EIRL. Other marker players based in Mexico and Peru offer cochineal extract products such as Biocon del Peru and Earthue.

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Shambhu Nath Jha

Shambhu Nath Jha with an experience nearing a decade, has helped over 50 large and medium to small business enterprise to foray into new markets, increase footprint in the existing bucket and understand the nature of the beast. These beasts are the companies that have been primarily engaged in chemicals, material or packaging activities, and encountering challenge either in maintain P&L or staying ahead of their competitors. He has authored over 300 industry research papers consisting critical information such as market growth, total addressable market, serviceable addressable market, market size, forecast, player strategies, market share estimates and winning imperatives along with recommendations. He is also the pioneer of “three slope distributor/off-taker evaluation model” used by several multinational companies to track the performance of channel partners. A consultant by profession, writer by mood and explorer by desire, Shambhu Nath is currently employed with a London based market research and consulting firm as a full time consultant. A few of the industry verticals where he demonstrated his skill includes water and wastewater treatment chemicals, high purity alumina, water purifiers, activated carbon, chloramine filters, bio-based bioplastics, water purifiers, textile chemicals etc.