(MENAFN- Straits Research) Annatto extract is a natural colorant obtained from the seeds of the achiote plant. The extract offers good heat stability and solubility in both oil as well as water, owing to which it has found its use in several applications, including dairy products, cosmetic products, and dye. In addition, stringent government regulations on the use of synthetic food colors have boosted the demand for annatto extracts as a food colorant.
COVID-Impact Analysis
The COVID-19 outbreak had a significant impact on the food and beverage industry. Currently, the companies engaged in the food and beverage industry are tussling with severe hurdles due to the sharp decline in consumption from the demand side. In addition, the imposed restriction measures by the government have led to the downfall in the production capacities.
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The off-premise business has taken a huge hit during the lockdown as most of the cafes, restaurants, bars, and the hotel have been shut down. The manufacturers in the industry are focusing on reshaping their business models by rerouting their business channels and tying up with various e-commerce to increase customer engagement. Unlike the off-premise sales channels, the on-premise sales channels are witnessing a spike in sales. As now, the costumers are stocking up consumer goods for isolation and quarantine. It can also be foreseen that once the lockdown is lifted the market will witness a major change in the consumer sentiments, which are now less inclined towards off-premise business channels
Key Players
FiorioColori
Sensient Technology Corporation
Parchem fine and specialty chemicals
D. Williamson and Co. Inc.
Naturex S.A.
Kalsec Inc.
Hansen Holding A/S
FMC Corporation
Wild Flavors
Annatto Extracts Market: Segmentation
By Pigment
Bixin
Carotenoid
Norxibin
By Product Type
Oil-Soluble Annatto
Water-Soluble Annatto
Emulsified Annatto
By End-User
Food
Cosmetic
Textile
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Germany
France
The U.K
Italy
The Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
The Rest of Asia-Pacific
Central and South America and the Caribbean
Argentina
Brazil
Colombia
The Rest of Central and South America and the Caribbean
The Middle East
Saudi Arabia
The UAE
Qatar
Oman
Turkey
The Rest of the Middle East
Africa
Nigeria
South Africa
The Rest of Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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