Skip to main content

New York, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) — Peru is the largest producer and exporter of cochineal extract and holds approximately 80%–83% global production share. Cochineal extract is usually found in the country’s tropical and subtropical parts; hence, it is the Peruvians’ primary source of income. The Peruvian government is in continuous efforts to increase the cochineal extract’s production to enhance the employment rate in the rural part of the country. A government organization, the Instituto de Investigaciecnola Industrial y de Normas Ticas (ITINTEC), and Simon Fraser University have developed a carmine dye extraction process for efficient production of pure carmine. It is backed by the plentiful availability of cochineal insects and experienced labor force in rural parts.

A majority of the local cochineal processing plants are built near the farming areas to employ the local people. Currently, a cochineal farmer earns more than 10% of the cochineal extract market’s revenue. Cochineal extract consumption in Peru is dominated by the food and beverage industry as it is considered one of the non-toxic natural color additive choices. A majority of its demand in the country comes from a pastry shop and confectionery, drinks, and dairy items.

Get a Free Sample Copy of This Report @ 

COVID-19 to Negatively Impact the Global Cochineal Extract Market

Brazil, Mexico, Chile, and Peru are among the largest producers of the cochineal extract and most affected countries. Mexico and Brazil are topping the charts with most COVID-19 cases in the world. Lockdown in these countries and broader closures has severely affected the cochineal extract market’s global supply chain. The border closures have fueled the disruption in the carmine supply. Lack of carmine dye availability is expected to lead to the adoption of other substitutes and hamper the cochineal extract market growth.

Report Scope

Report Metric Details
Market Size USD 69.5 Billion by 2030
CAGR 6.9% (2022-2030)
Historical Data 2019-2020
Base Year 2021
Forecast Period 2022-2030
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Grade, Application, Regions
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors Gentle world, DDW The Color House, Chr Hansen Holding A/S, Xian LiSheng-Tech Co., Ltd, Sensient Technologies Corporation, Naturex, Roha Dyechem Pvt. Ltd., BioconColors, ColorMaker, Inc., and Colores Naturales EIRL
Key Market Opportunities The unique characteristics of the cochineal extract have created lucrative opportunities in pharmaceutical sectors.
Key Market Drivers Wide Range of Substitutes to Hamper the Growth of the Market

Buy Now Full Report @ 

Regional Analysis

North America, Europe, Asia Pacific, Central and South America and the Caribbean, the Middle East, and Africa are the different geographic regions that make up the global market for cochineal extract.

Because of the growing demand from the food processing industry in the United States and Mexico, North America is anticipated to account for a sizeable portion of the global market for cochineal extract. The market for cochineal extract is steadily expanding in Central and South America, as well as the Caribbean. The consumption of natural colour additives is expected to rise in the future years in Asia-Pacific, which is predicted to have the fastest rate of growth in the packaged food sector. During the projected period, the cochineal extract market is expected to expand significantly in Europe. The Middle East and Africa collectively possess very small market shares for cochineal extract, but it is anticipated that their demand would increase over the course of the forecast period compared to the previous few years.

Key Highlights

  • The global cochineal extract market size was valued at USD 35.4 billion in 2021 and is anticipated to reach an expected value of USD 69.5 billion by 2030 at a CAGR of 6.9% over the forecast period (2022–2030).
  • Geographically, the global cochineal extracted market is segmented into North America, Europe, Asia Pacific, Central, and South America and the Caribbean, the Middle East, and Africa.
  • North America is anticipated to account for a sizeable portion of the global market for cochineal extract.
  • Asia-Pacific is anticipated to be the fastest-growing for cochineal extract.

Some of the prominent players in the market are

  • Gentle world
  • DDW The Color House
  • Chr Hansen Holding A/S
  • Xian LiSheng-Tech Co. Ltd
  • Sensient Technologies Corporation
  • Naturex
  • Roha Dyechem Pvt. Ltd.
  • BioconColors
  • ColorMaker Inc.
  • Colores Naturales EIRL
  • Lake Foods 

Get a Free Sample Copy of This Report @ 

Market Segmentation: Cochineal Extract Market

By Grade

  • Food Grade
  • Pharmaceutical Grade
  • Industrial Grade

By Application

  • Food Beverages
    • Bakery and Confectionery
    • Beverages
    • Dairy and Frozen Products
    • Meat Products
    • Oil and Fat
    • Fruits and Vegetables
    • Other Food Products
  • Pharmaceuticals
  • Others

Regions Covered

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America and the Caribbean
  • The Middle East
  • Africa


1          Introduction

1.1       Market Definition

1.2       Market Scope

2          Research Methodology

2.1       Primary Research

2.2       Research Methodology

2.3       Assumptions and Exclusions

2.4       Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1       Report Segmentation and Scope

4.2       Value Chain Analysis: Cochineal Extract Market

4.2.1   Vendor Matrix

4.3       Key Market Trends

4.3.1   Drivers

4.3.2   Restraints

4.3.3   Opportunities

4.4       Porter’s Five Forces Analysis

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       Environmental and Regulatory Landscape

4.6       Forecast Factors and Relevance of Impact

4.7       Macro-Economic and Geopolitical Scenario

4.8       Parent Market Overview

4.9       Technology Landscape

4.10    Market Share Analysis

4.11    Potential Venture Analysis

4.12    Regional Price Trends

4.13    Raw Material Trends

4.14    Cost Structure Analysis

4.14.1 Labor Cost

4.14.2 Consumables

4.14.3 Maintenance Cost

4.15    Covid-19 Impact Analysis

4.15.1 Pre and Post Covid-19 Market Scenario Analysis

4.15.2 Market Recovery Timeline and Challenge

4.15.3 Measures Taken by Top Players

4.15.4 Quarterly Market Revenue and Growth Forecast Till 2021

5          Grade Overview

5.1       Introduction

5.1.1   Market Size and Forecast (Value and Volume)

5.2       Food Grade

5.2.1   Market Size and Forecast (Value and Volume)

5.3       Pharmaceutical Grade

5.3.1   Market Size and Forecast (Value and Volume)

5.4       Industrial Grade

5.4.1   Market Size and Forecast (Value and Volume)

6          Application Overview

6.1       Introduction

6.1.1   Market Size and Forecast (Value and Volume)

6.2       Food and Beverages

6.2.1   Market Size and Forecast (Value and Volume)

6.2.2   Bakery and Confectionery            Market Size and Forecast (Value and Volume)

6.2.3   Beverages            Market Size and Forecast (Value and Volume)

6.2.4   Dairy and Frozen Products            Market Size and Forecast (Value and Volume)

6.2.5   Meat Products            Market Size and Forecast (Value and Volume)

6.2.6   Oil and Fat            Market Size and Forecast (Value and Volume)

6.2.7   Fruits and VegeTABLEs            Market Size and Forecast (Value and Volume)

6.2.8   Other            Market Size and Forecast (Value and Volume)

6.3       Pharmaceuticals

6.3.1   Market Size and Forecast (Value and Volume)

6.4       Others

6.4.1   Market Size and Forecast (Value and Volume)

7          Regional Overview

7.1      Introduction

7.1.1   Market Size and Forecast (Value and Volume)

7.2      North America

7.2.1   Economic Overview

7.2.2   Market Scenario

7.2.3   The U.S.            By Grade            By Application

7.2.4   Canada            By Grade            By Application

7.2.5   Mexico            By Grade            By Application

7.3      Central and South America and the Caribbean

7.3.1   Economic Overview

7.3.2   Market Scenario

7.3.3   Brazil            By Grade            By Application

7.3.4   Argentina            By Grade            By Application

7.3.5   Columbia            By Grade            By Application

7.3.6   Rest of Central and South America and the Caribbean            By Grade            By Application

7.4      Europe

7.4.1   Economic Overview

7.4.2   Market Scenario

7.4.3   Germany            By Grade            By Application

7.4.4   France            By Grade            By Application

7.4.5   The U.K.            By Grade            By Application

7.4.6   Italy            By Grade            By Application

7.4.7   Rest of Europe            By Grade            By Application

7.5      Asia-Pacific (APAC)

7.5.1   Economic Overview

7.5.2   Market Scenario

7.5.3   China            By Grade            By Application

7.5.4   Japan            By Grade            By Application

7.5.5   India            By Grade            By Application

7.5.6   Australia            By Grade            By Application

7.5.7   South Korea            By Grade            By Application

7.5.8   Rest of APAC            By Grade            By Application

7.6      The Middle East

7.6.1   Economic Overview

7.6.2   Market Scenario

7.6.3   Saudi Arabia            By Grade            By Application

7.6.4   The UAE            By Grade            By Application

7.6.5   Qatar            By Grade            By Application

7.6.6   Oman            By Grade            By Application

7.6.7   Turkey            By Grade            By Application

7.6.8   Rest of MEA            By Grade            By Application

7.7      Africa

7.7.1   Economic Overview

7.7.2   Market Scenario

7.7.3   Nigeria            By Grade            By Application

7.7.4   South Africa            By Grade            By Application

7.7.5   Rest of Africa            By Grade            By Application

8          Competitive Landscape — Manufacturers and Suppliers

8.1      Competition Dashboard

8.2      Industry Structure

8.3      Gentle world

8.3.1   Business Overview

8.3.2   Financial Performance

8.3.3   Recent Developments

8.3.4   Product Portfolio

8.4      DDW The Color House

8.4.1   Business Overview

8.4.2   Financial Performance

8.4.3   Recent Developments

8.4.4   Product Portfolio

8.5      Char Hansen Holding A/S

8.5.1   Business Overview

8.5.2   Financial Performance

8.5.3   Recent Developments

8.5.4   Product Portfolio

8.6      Xian LiSheng-Tech Co

8.6.1   Business Overview

8.6.2   Financial Performance

8.6.3   Recent Developments

8.6.4   Product Portfolio

8.7      Sensient Technologies Corporation

8.7.1   Business Overview

8.7.2   Financial Performance

8.7.3   Recent Developments

8.7.4   Product Portfolio

8.8      Naturex, Roha Dyechem Pvt. Ltd.

8.8.1   Business Overview

8.8.2   Financial Performance

8.8.3   Recent Developments

8.8.4   Product Portfolio

8.9      Lake Foods

8.9.1   Business Overview

8.9.2   Financial Performance

8.9.3   Recent Developments

8.9.4   Product Portfolio

9          Conclusion and Recommendation

10        Acronyms and Abbreviations

Table of Content and Figure @ 

News Media

 Peruvian Government to Push Cochineal Extract Production

Have a Look at the Related Research Report

Annatto Extracts Market: Information by Pigment (Bixin, Carotenoid), Product (Oil-Soluble Annatto, Water-Soluble Annatto, Emulsified Annatto), End-User, and Region— Forecast till 2029

Malt Extracts Market: Information by Source (Barley, Wheat, Rice, Rye), Grade (Standard, Specialty), Type, Application (Beverages, Bakery, Confectionery), and Region — Forecast till 2029

Essential Oils and Plant Extracts for Livestock Market: Information by Product Type (Plant Extracts), Livestock (Cattle Feed), Form, Application, Function, and Region — Forecast till 2029

About Straits Research Pvt. Ltd.

StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 480 7505 (the U.S.)

+91 8087085354 (APAC)

+44 208 068 9665 (the U.K.)


Follow Us: LinkedIn | Facebook | Instagram | Twitter

Read the original article

Leave a Reply