[300 Pages Report] The erythrosine market is anticipated to reach a market valuation of US$ 38.67 Million in 2022, accelerating at a CAGR of 3.7% during the forecast period (2022-2032). Overall demand in the erythrosine market is projected to surpass US$ 56.68 Million by the end of 2032.
Attribute
Details
Erythrosine Market Size (2022E)
US$ 38.67 Million
Market Projected Size (2032F)
US$ 56.68 Million
Value CAGR (2022 to 2032)
3.7%
Top Region Market Share (EMEAI)
42.1%
As modern corporations emphasize on elevating their product appeal to entice larger consumer bases, product attractiveness is expected to be the focus of key players. Colourants play a very crucial role, especially in the food and beverage sector. Inclination towards decorative food items has further improved the demand for synthetic food additives and colourants.
These colorants such as erythrosine an artificial red coloring agent, which is commonly known as red dye 3. Hence, the rising application of erythrosine in cosmetics, pharmaceutical, and food & beverage industries will boost the demand in the market.
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Erythrosine Market Sales Analysis (2017-2021) Vs Demand Forecast (2022-2032)
As per Future Market Insights (FMI), erythrosine is a fluorone derivative and an organoiodine compound. It is the most commonly used pink dye for food colourants for bakeries, confectionaries and others.
Erythrosine also goes by Red No.3 and is usually supplied in a disodium salt form. Erythrosine has maximum absorbance of 530nm in an aqueous solution. A study by Future Market Insights indicates that food colors will account for nearly US$ 5.3 Bn of sales in the global market in 2032. The food colors market exhibited a sales by volume of about 185,000 metric tons in 2021, while erythrosine dyes exhibited sales of about 1688 metric tons in 2021.
The market study suggests that the demand for the erythrosine colorants sector is expected to be at approximately 2303 metric tons by 2032. The need for natural food ingredients with growing concerns regarding food ingredients is propelling the demand for natural food colors. This is expected to propel the demand for erythrosine in the market.
Which are the Key Trends Propelling Erythrosine Sales in the Market?
According to several regulatory bodies, food coloring preparations contains erythrosine which possess superior coloring characteristics compared to alternative red food colorings. These features include longevity, color strength, and finished product quality.
Hence, leading food companies are increasing the consumption of erythrosine for food decoration purposes. The visual effect and unique shades which can be achieved with erythrosine is unattainable by using other food colors, especially natural food colors.
Further, erythrosine is extensively utilized in food colors and is declared as a valid food color by numerous regulatory bodies such as the U.S. Food and Drugs Administration (FDA). While it has been approved by the FDA for use in foods and ingested drugs, however, it is banned in cosmetics and external drugs.
In the food and beverage industry, overall sales of erythrosine are driven by food products such as cotton candy, soft drinks, cherry-flavoured products, popsicles, cake decorating gels, ingested drugs, and dairy products. In pharmaceutical industry as well, the dye is used to dye medicinal pills and as a dental plaque-disclosing agent.
As processed food and packaged food consumption are constantly rising, the application of synthetic food colors such as erythrosine and Allura Red AC will gain impetus, supporting the growth in the erythrosine market.
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Which are the Factors Restraining the Demand in Erythrosine Market?
Erythrosine is known as Allura Red AC colors in the U.S. and shades of this are extensively used in the U.S. food & beverage industry. The consumption of erythrosine lake color is also banned in the U.S., which is likely to affect sales in the country negatively. The U.S. is considered one of the largest food colorants market and these regulations is restraining the demand in the erythrosine market.
The European Food Safety Authority only allows erythrosine in processed cherries and pet foods. Such stringent regulations regarding synthetic food colorants is a key factor hampering the growth of the market. Also, misconception about the side effects of synthetic colors is another factor impeding the growth in the erythrosine market.
Being a synthetic dye produced by full chemical synthesis, they lack nutritional content. Demand for natural colorants and additives is gaining traction on account of the rapid shift towards nutritional food content and food products which have ingredients that are naturally derived. This might hamper the erythrosine market.
Country-wise Insights
How is the China Erythrosine Market Shaping?
China is the Most Lucrative Erythrosine Market in Asia Pacific, followed by Australia and New Zealand
As per FMI, the Asia-Pacific erythrosine market totalled US$ 12.02 Mn in 2021 which is approximately 32% of the global erythrosine market, as per FMI. As per the study, sales in the Asia Pacific market are expected to increase at 4.7% CAGR over the forecast period.
China is one of the largest manufacturers of all types of food colorants. The presence of one of the largest food color manufacturing facilities and strong distribution networks in China will augment the demand in the market. Hence, the market for red food dyes is slated to expand at a steady pace in China.
Besides this, sales in Australian and New Zealand erythrosine market were valued at US$ 2.26 Mn, collectively, in 2021. Consumption of the erythrosine food colors in Asia Pacific was 107 metric tons in 2021.
Which Country will Retain its Dominance in the Global Erythrosine Market?
Sales of Erythrosine in Germany to Outpace the Demand in the U.S.
The U.S. food colors market for erythrosine topped sales of over US$ 1.6 Mn in 2021. The expansion of the food processing industry is expected to create impressive prospects for growth in the U.S. erythrosine market.
Expansion of the pet food industry, bakery & confectionery, meat processing, and functional food products, as the rise in manufacturing units in India, is expected to drive the erythrosine market in South Asia.
However, Germany is considered to have the largest food industry resulting in increased erythrosine demand, which totalled US$ 3.65 Mn in 2021. Inclination towards natural food colors is one of the prominent factors fueling the demand.
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Category-wise Insights
Why is Demand for Erythrosine in Bakeries and Confectionary Rising?
Nearly 26% of Erythrosine Demand is Contributed by the Confectionary Segment
In terms of application, bakery and confectionery is expected to account for the largest share of the erythrosine market. The candy and confectionery segment is anticipated to account for over 26% of the erythrosine market share. Besides this, the demand for the bakery, snacks, and cereals segment is expected to accelerate with a CAGR of 3.5% over the assessment period.
Competitive Landscape
Key players operating in the erythrosine market are focusing on developing numerous shades to gain a competitive edge. Investments centering around constant research initiatives regarding the efficacy of erythrosine are also being carried out by leading erythrosine market contributors.
Food Ingredient Solutions (FIS), a leading erythrosine market player recently partnered with Spain’s BTSA in a joint venture.
BASF and Sichuan Lutianhua Co., Ltd., a globally recognized erythrosine provider recently signed an MoU to co-develop a pilot production plant.
Sigma-Aldrich Co. LLC., a subsidiary of Merck is a leading erythrosine market player that aims to solve life science problems through collaborations with the global scientific community. It has been aggressively marketing synthetic food colors in emerging economies.
Regional players in the synthetic food colors market are going global. Dynemic Products Ltd. is another company operating in the erythrosine market with headquarters located in India. The company’s subsidiary includes Dynamic Overseas (India) Pvt. Ltd which is one of the largest manufacturers and exporters of food colors across the globe.
Scope of the Report
Attribute
Details
Expected Market Size (2022E)
US$ 38.67 Million
Market Projected Size (2032F)
US$ 56.68 Million
Value CAGR (2022 to 2032)
3.7%
Forecast Period
2022 to 2032
Historical Data Available for
2017 to 2021
Market Analysis
US$ Million for Value and MT for Volume
Key Regions Covered
Global, North America, Latin America, Europe, Middle east and Africa, and India, Asia Pacific
Key Countries Covered
USA, Canada, Mexico, Brazil, Peru, Argentina, UK, China, India, Japan, Germany, Italy, France, South Africa, South Korea, Australia, and GCC Countries
