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Report
Anthocyanin Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The anthocyanin market is growing at a CAGR of 4.5% during the forecast period (2022-2027).
The COVID-19 outbreak has impacted all the markets, including the anthocyanin market. Due to the pandemic, people have become health-conscious and shifted their preference to healthier products. Rising awareness about the health benefits of anthocyanin and an increasing number of applications in different industries are the major factors expected to drive the growth of the global anthocyanin market. In addition, changing lifestyles and increasing disposable income are the other factors expected to drive the demand of the target market. Furthermore, the rising purchasing power of consumers has helped increase the consumption of anthocyanin-rich food products are the factors driving the growth of the global anthocyanin market.
Anthocyanin is found in many foods, including blueberries, blackberries, raspberries, strawberries, cherries, purple grapes, beets, red cabbage, and red beans. Due to its functional properties, such as anti-allergic, anti-diabetic, anti-microbial, anti-inflammatory, and antioxidant, the market is driven by its increasing demand in the food and beverage industries. The other health benefits include reducing the risk of heart disease and respiratory disorders, which fueled the market sales.
The food and beverage industries account for the largest share of the market owing to the natural colorant with a large number of health benefits, and the personal care sector is witnessing an increasing market growth trend. However, they are a promising alternative to synthetic food dyes as anthocyanins do not lead to side effects and toxicity if overconsumed and create no health hazards. The synthetic food dyes sector still accounts for a good share in the market owing to the lower cost and high stability compared to natural colors such as anthocyanins, chlorophyll, carotenoids, and turmeric, thus being the major factor restraining the market.
Anthocyanin Market Trends
Increased Demand in Personal Care Products
Demand for anthocyanins in personal care products is increasing due to their high level of antioxidant activity and a wide range of health benefits, from preventing chronic disease to improving the appearance of skin. While synthetic cosmetics continue gaining traction, consumers are increasingly considering utilizing naturally sourced cosmetic products. These are largely manufactured from herbs, fruits, or vegetables, most of which contain high amounts of anthocyanin. These cosmetics impart anti-inflammatory and moisturizing properties to the skin, delaying aging and boosting overall skin health. Therefore, many key players are infusing anthocyanin as a key ingredient in their skincare and body care products to follow the trend. For instance, Tatcha LLC offers a skincare product, "The Dewy Skin Cream," which is rich in anthocyanin.
Asia-Pacific is Projected to Register the Fastest Growth
Asia-Pacific has witnessed significant growth in the market owing to the shifting consumer preferences towards healthy ingredients in food, beverages, and personal care products, increasing disposable income of the middle class, and advancing investments supported by the expansions of domestic companies. China has seen considerable market growth due to evolving consumer tastes toward healthier ingredients in the cosmetics & personal care domain. Also, social media platforms are expected to be used on a large scale to increase customer base and market share, make people aware of the benefits of anthocyanin, and increase its demand in all sectors.
Anthocyanin Market Competitor Analysis
The anthocyanin market is highly competitive and fragmented, owing to the presence of many regional and domestic players. Emphasis is given to the companies' mergers, expansion, acquisitions, partnerships, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, MEDOX, a berry extract product by Evonik Nutrition & Care GmbH, offers dietary supplements with high and stable anthocyanin content. Also, Sensient Technologies Corporation acquired GlobeNatural, a Peru-based natural food and ingredient enterprise to facilitate the company's product portfolio and manufacturing capabilities, and Chr. Hansen Holding AS expanded its natural color business in North America by purchasing a manufacturing facility in Wisconsin.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Cyanidin
5.1.2 Malvidin
5.1.3 Delphinidin
5.1.4 Peonidin
5.1.5 Others
5.2 By Application
5.2.1 Food & Beverage
5.2.1.1 Bakery & Confectionery
5.2.1.2 Dairy-based products
5.2.1.3 Beverages
5.2.1.4 Others
5.2.2 Pharmaceutical
5.2.3 Personal Care
5.2.4 Animal Feed
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Chr. Hansen Holding A/S
6.4.2 DDW The Color House
6.4.3 The Archer Daniels Midland Company
6.4.4 Kalsec Inc.
6.4.5 Sensient Technologies Corporation
6.4.6 Synthite Industries Ltd.
6.4.7 Skyherb Technologies
6.4.8 Givaudan (Naturex)
6.4.9 Symrise AG
6.4.10 Naturex S.A.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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