Anthocyanin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Anthocyanin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global anthocyanin market is growing at a CAGR of 4.5% during the forecast period (2020-2025).

Key Highlights

• The market for anthocyanin which is found in many foods including blueberries, blackberries, raspberries, strawberries, cherries, purple grapes, beets, red cabbage, and red beans is driven by its increasing demand in food and beverage industries owing to its functional properties such as being anti-allergic, anti-diabetic, anti-microbial, anti-inflammatory and antioxidant. Also, the other health benefits it offers such as reducing the risk of heart disease and respiratory disorders has fueled the market sales of the anthocyanin market.
• On a segmentation front by application, 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 witnessed to have an increasing trend of market growth. Geographically, Europe dominates the accounts for the largest share and the Asia-Pacific region is witnessed to face the fastest growing market owing to the increasing demand for natural colorant food and beverage and personal care products.
• However, being a promising alternative to synthetic food dyes, as anthocyanins do not lead to any side effects and toxicity if overconsumed and creates 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 as compared to natural colors such as anthocyanins, chlorophyll, carotenoids, and turmeric, thus being the major factor for restraining the market.

Key Market TrendsIncreased Demand in Personal Care Products

Demand for anthocyanins in personal care products such as lipstick, body lotion, and face cream are increasing in the recent years owing to its high level of antioxidant activity and a wide range of health benefits, from preventing chronic disease to improving the appearance of skin. 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 Have the Fastest Growth

Asia-Pacific region has witnessed significant growth in the market owing to the shifting consumer preferences towards healthy ingredients in food, beverages, and personal care products and increasing disposable income of the middle class and advancing investments supported by the expansions of domestic companies. Also, social media platforms are expected to be used on a large scale to increase customer base and market share to make people aware of the benefits of anthocyanin and increase its demand in all the sectors.

Competitive Landscape

The global anthocyanin market is highly competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition and partnership of the companies along with 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 supplement with high and stable anthocyanin content. Also, in 2018, Sensient Technologies Corporation acquired GlobeNatural, a Peru-based natural food and ingredient enterprise for amelioration of product portfolio and manufacturing capabilities of the company and Chr. Hansen Holding A/S 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

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