TMR projects the global anthocyanin market to reach US$ 735.9 Mn by2026. Over this period of 2018-2026, the anthocyanin market is forecast toreport a CAGR of 4.6%. Among the key end use segments, the food and beveragesindustry is likely to lead the market in 2018. The trend is likely to remainunchanged throughout the course of the forecast period. Regionally, the NorthAmerica anthocyanin market held the leading share in the global market in 2018.
The global anthocyanin market exhibits the presence of several largecompanies. Besides this, domestic players enjoy a stronghold in regionalpockets, which has rendered the market highly competitive. According to a newstudy by Transparency Market Research (TMR), Archer Daniels Midlands Co.,Sensient Technologies Corp, Symrise A.G., and CHR Hansen A/S held nearly 50% ofthe global anthocyanin market in 2018, thereby registering their dominance.
To sustain growth amidst the prevailing competition, the leading playersare trying out a plethora of strategies. For instance, they are engaging inmergers and acquisitions. Besides this, investment towards product innovationis steadily increasing. These strategies are adopted by market players toexpand their footprint worldwide. Such strategies are therefore likely to havea significant influence on the global anthocyanin market.
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Steadily Rising Demand from Emerging Economies toSteer Growth
Anthocyanin consumption has positive effects on human health. Studieshave shown that they have anti-allergic, anti-oxidant, anti-microbial, andanti-inflammatory properties. Besides these, anthocyanin also help in improvingmicrocirculation of the body. Anthocyanin expedite metabolism process, therising awareness about which is likely to bode well for the market.
Anthocyanin also fight oxidative stress, which can escalate heartailments. Furthermore, consumption of anthocyanin can help reduce obesity inhumans. TMR expects that the market will significantly gain from the risingawareness about health benefits offered by anthocyanin. Additionally, thesteadily rising demand from India, China, Brazil, Argentina, and Indonesia willsteer growth in the global anthocyanin market.
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Demand for Synthetic Variants May Hamper Growth
Anthocyanin are extracted from natural resources, which makes themdifficult to work with. Raw materials used for deriving anthocyanin areavailable at a higher price than those used for extracting artificialcolorants. Besides this, anthocyanin lack color intensity unlike theirsynthetic counterparts. Additionally, the synthetic variants help maintainingthe vibrancy of the color. Therefore, the rising demand for syntheticanthocyanin may hamper the growth of global anthocyanin market to an extent.
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Furthermore, factors such as the absence of a wide ranging color pallet andimplementation of stringent guidelines controlling the use of food additivesmay negatively the market the market. Nonetheless, the demand for natural foodcolors is likely to remain steady through the forecast period. Expansion of thefood and beverage industry and the steady use of anthocyanin in the sector willenable the market sustain growth in the coming years.
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The food andbeverages sector has cemented its place among the global populace firmly overthe years. This sector attracts considerable investments and subsidies fromnumerous government and non-government organizations. The trends and popularityregarding specific sub-categories are dynamic and help in structuring theoverall growth. The trends are a way of answering the needs of the consumer.The players in the food and beverages sector have to adapt to the changingtrends, which helps increase revenue-generation opportunities.
The world hasundergone a major shift in the way of living since the COVID-19 pandemicstruck. A notable change in the functioning of various businesses and sectorshas influenced their working mechanisms extensively. The food and beveragesector is no stranger to this change. Transparency Market Research (TMR) hasstudied many aspects concerning the difference between the trends in thepre-pandemic and post-pandemic world across the food and beverage industry.
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