About Achiote Powder
Achiote powder is extracted from the seeds of Bixa Orellana, commonly known as annatto. Achiote is traditionally being used for spices, food color, and medicinal purposes,s and as a commercial dye. Achiote powder is one of the used food dyes in the food and beverage industry because of its economic importance. It’s used in dairy products like cheddar, and Colby cheeses to impart color. Oil can also be extracted from achiote and used in different dishes for giving them a nice color. Apart from seeds plant leaves have medicinal properties and also used in skin disease treatment. Achiote also finds application in the cosmetics and pharmaceutical industries. It’s used in the production of skincare products especially those that involve the use of natural ingredients.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The achiote powder market is more consolidated as key players in both developed and developing countries strive to strengthen their product portfolio, brand loyalty, and distribution network. Prominent players are focusing on the R&D of existing and new products to re-establish their genuineness in order to be hassle-freely commercially available. Moreover, key players are leaning on collaborations to solidify their foothold in the annatto market. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Achiote Powder market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amerilure Inc. (United States), Kalsec Inc. (United States), Sensient Technologies Corporation (United States), D.D. Williamson & Co. Inc. (United States), Givaudan SA (Switzwerland), Chr. Hansen Holding A/S Denmark), Dairy Connections Inc. (United States), Archer Daniels Midland Company (United States), Aica Color Sac (Peru) and Dohler Group (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are IFC Solutions (United States), Aarkay Food Products Ltd. (India), Biocon Colors (India), Green Earth Products Pvt. Ltd. (India), Monterey Bay Spice Co. (United States) and Vinayak Ingredients Pvt. Ltd. (India).
Segmentation Overview
AMA Research has segmented the market of Global Achiote Powder market by Type (Bixin and Norbixin), Application (Food Industry, Cosmetics Industry, Pharmaceuticals, Natural Fabric Industry and Others) and Region.
On the basis of geography, the market of Achiote Powder has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific, Europe, North America region held largest market share in the year 2024. If we see Market by Nature, the sub-segment i.e. Organic will boost the Achiote Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Solubility, the sub-segment i.e. Oil-Soluble will boost the Achiote Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct will boost the Achiote Powder market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Emphasis on Ayurveda Medicines, Natural Dyes, and Natural Food Colorants
Market Growth Drivers:
Rising Demand For Natural Colorants Products Due To Rising Regulations On Uses Of Synthetic Color Agents In Food And Other Materials By Various Governments and Growing Health Consciousness in Consumers and Rising Market Demand For Natural Products Based Cosmetics And Pharmaceutical Products
Challenges:
Highly Sensitive To Environmental Factors Such As Temperature And Light
Restraints:
High Cost and Low Stability of Achiote Powder
Opportunities:
Growth in the Natural and Plant-Based Industry to Serve Changing Consumer Preferences for Personal Care Products and Growing Research and Development in Plant Medicines Sector
Market Leaders and their expansionary development strategies
In Feb 2018, Sensient Technologies Corporation had acquired the natural color business of Globe Natural, a leading natural food and ingredient company, based in Lima, Peru, owned by the Michell Group
In December 2022, Univar B.V., a subsidiary of Univar Solutions Inc., a renowned global provider of specialty ingredients and chemicals, made an exclusive agreement with Kalsec Inc., a provider of natural ingredient solutions for the food and beverage industry. Under this agreement, Univar Solutions will serve as the exclusive distributor of Kalsec's natural taste & sensory, colors, and food protection ingredient solutions for savory applications in the United Kingdom and Ireland.
Annatto has been recognized as a safe food coloring product and condiment by various accredited food safety authorities such as European Food Safety Authority, U.S. Food & Drug Administration, and others.
Key Target Audience
Achiote Powder Manufacturers, Raw Material Suppliers, Potential Investors, End-Use Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.