ALBANY, New York, November 23, 2016 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Anthocyanins Market By Product Type (Cyanidin, Malvidin, Delphinidin, Peonidin, Others)By Application (Food Beverage, Pharmaceuticals Products, Personal Care and Others)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015- 2021",the global anthocyanins market was valued at USD 291.7 million in 2014 and is expected to reach USD 387.4 million by 2021, growing at a CAGR of 4.4% from 2015 to 2021.
The market is driven by the wide application scope of anthocyanins across several industries such as food and beverages, pharmaceuticals and personal care among others. In terms of revenue, food and beverages accounted for the maximum market share followed by pharmaceuticals and personal care among others. However, the market is restrained by the laws posed by the regulatory bodies for natural food colors. Anthocyanins find major application in the food and beverage industry as it accounted for more than 45% of the total market in 2014. The intensity of the colour is the consumers' initial choice before purchase. Acceptance of the overall product is majorly based on consumers' perception about colour influence. Additionally, colour gives the cue of the flavour of the food. Additionally, colours also help to identify the difference between actual colour of the food and the changes that occur post processing and storage. It also makes the food visually more attractive.
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Further, perception about the food is highly influenced by the colour and it can have a reverse effect on the consumers if the foods are not coloured accordingly, which would in turn refrain the consumers from buying that particular product. Therefore, colours affect the judgement of the food, perception of its freshness and the intensity of its flavor among others. The global anthocyanin market has been classified on the basis of geography into North America, Europe, Asia Pacific and Rest of the World where it is inclusive of Middle East and Africa and Latin America. In terms of revenue, Europe held the largest market share with U.K. being the frontrunner for the region. North America and Asia Pacific followed closely in terms of revenue.
North America is one of the major markets for anthocyanins with U.S. and Canada being the major contributors to the same. Further, several companies operating in the field of anthocyanins have major presence in North America as well. Additionally, owing the heavy presence of the food and beverage, personal care and pharmaceuticals industry in the U.S., consumers have a wide access to a variety anthocyanin infused products. The demand for anthocyanins in North America is expected to witness a significant surge during the forecast period.
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Europe is the market leader for anthocyanins, holding market share of more than 35% in 2014 and is expected to retain market dominance throughout the forecast period. U.K. is the major market for anthocyanins. Post enforcement of stringent rules and regulations regarding the usage of synthetic food colors in various products, the market for the same has witnessed a decline. In Europe, every natural food colors that have been approved for use are evaluated by the Scientific Committee on Food (SCF), which consists of a group of scientific experts from every member state appointed by the European Commission. Demand for wine in Asia Pacific is on the rise with India, China and Japan being the major contributing countries for the same. China contributed an approximate of 15% of the total revenue of the global wine industry. The demand for wine in China is mainly driven by the domestic market. Red wine is the preferred type of wine among the consumers. India is another major market for wine. Shifting consumer preference towards alcoholic beverages including wine is a key factor driving the growth of the wine market in India. Major companies operating in the field of anthocyanins looking to penetrate several countries in Asia Pacific for expansion opportunities. Asia Pacific is expected to be prime region for anthocyanins in the future.
Key players have also been profiled on the basis of company overview, company product segmentation, financial overview, recent developments and business strategies. Major market participants profiled in this report Archer Daniels Midlands Co (Illinois, Chicago), Naturex S.A. (Avignon, France), Symrise A.G. (Holzminden, Germany), CHR Hansen A/S (Denmark, Europe), Sensient Technologies Corp (Wisconsin, U.S.), D.D. Williamson and Co. Inc.(Kentucky, U.S.), Kalsec Inc.(Michigan, U.S.), FMC Corporation (Pennsylvania, U.S), Synthite Industries (Kerala, India) and GNT Group (Aschen, Germany) among others.
Global Anthocyanins market can be segmented as follows;-
Global Anthocyanins Market, by Product Type
Global Anthocyanins Market, by Application Type
- Food Beverage
- Pharmaceutical Products
- Personal Care
Global Anthocyanins Market, by Geography
- Rest of Europe
- Rest of APAC
- Middle East
- Latin America
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