PUBLISHER: IMARC | PRODUCT CODE: 1722587
PUBLISHER: IMARC | PRODUCT CODE: 1722587
The global carmine market size reached USD 57.1 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 92.4 Million by 2033, exhibiting a growth rate (CAGR) of 5.23% during 2025-2033. The heightened demand for sustainable food coloring options to maintain the nutritional content of consumables, increasing use of makeup products containing safe and natural ingredients, and rising focus on employing naturally procured ingredients in the production of nutraceutical products are impelling the market growth.
Carmine or cochineal extract, a red or purplish-red pigment, is a coloring extract obtained from the shell of the female cochineal insect. It is commonly used as a food color to enhance the flavor and color of the ingredient. It is prepared by precipitation and adding aluminum and calcium ions to the cochineal extract. Carmine is widely used in cake icings, fillings, yogurt, gelatin, alcoholic beverages, gelatin desserts, meat, processed foods, candies, and ice-creams. It is commonly available in powder, crystal, and liquid forms. It is also used in makeup products, such as nail polish, to enhance the color vibrancy and shade intensity. As a result, carmine finds extensive application across various industries, such as pharmaceuticals, cosmetics and personal care, and food and beverage.
Significant expansion in the food and beverage industry across the globe is one of the key factors driving the market growth. Carmine is widely used in bakery and confectionery products, soft drinks, strawberries, and jams. In line with this, the increasing demand for colorants from the meat industry is favoring the market growth. Moreover, various product innovations, such as the launch of vegan carmine that is widely used in ready-to-drink-beverages, jelly gums, and hard candy, are providing a considerable boost to the market growth. In addition to this, the rising demand for cosmetics and personal care products is positively impacting the market growth. Other factors, such as the growing demand for carmine across the pharmaceutical industry, the implementation of various government initiatives across nations for cost-effective carmine extraction, and the rising product demand for the manufacturing of processed foods, are creating a positive outlook for the market.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amerilure Inc., BioconColors, Clariant AG, Colormaker Inc., DyStar Singapore Pte Ltd, Imbarex S.A., Proquimac Pfc Sa and Vinayak Ingredients (INDIA) Pvt. Ltd.