TMR projects the global anthocyanin market to reach US$ 735.9 Mn by 2026. Over this period of 2018-2026, the anthocyanin market is forecast to report a CAGR of 4.6%. Among the key end use segments, the food and beverages industry is likely to lead the market in 2018. The trend is likely to remain unchanged throughout the course of the forecast period. Regionally, the North America anthocyanin market held the leading share in the global market in 2018.
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The global anthocyanin market exhibits the presence of several large companies. Besides this, domestic players enjoy a stronghold in regional pockets, which has rendered the market highly competitive. According to a new study by Transparency Market Research (TMR), Archer Daniels Midlands Co., Sensient Technologies Corp, Symrise A.G., and CHR Hansen A/S held nearly 50% of the global anthocyanin market in 2018, thereby registering their dominance.
To sustain growth amidst the prevailing competition, the leading players are trying out a plethora of strategies. For instance, they are engaging in mergers and acquisitions. Besides this, investment towards product innovation is steadily increasing. These strategies are adopted by market players to expand their footprint worldwide. Such strategies are therefore likely to have a significant influence on the global anthocyanin market.
Steadily Rising Demand from Emerging Economies to Steer Growth
Anthocyanin consumption has positive effects on human health. Studies have shown that they have anti-allergic, anti-oxidant, anti-microbial, and anti-inflammatory properties. Besides these, anthocyanin also help in improving microcirculation of the body. Anthocyanin expedite metabolism process, the rising awareness about which is likely to bode well for the market.
Anthocyanin also fight oxidative stress, which can escalate heart ailments. Furthermore, consumption of anthocyanin can help reduce obesity in humans. TMR expects that the market will significantly gain from the rising awareness about health benefits offered by anthocyanin. Additionally, the steadily rising demand from India, China, Brazil, Argentina, and Indonesia will steer 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 them difficult to work with. Raw materials used for deriving anthocyanin are available at a higher price than those used for extracting artificial colorants. Besides this, anthocyanin lack color intensity unlike their synthetic counterparts. Additionally, the synthetic variants help maintaining the vibrancy of the color. Therefore, the rising demand for synthetic anthocyanin may hamper the growth of global anthocyanin market to an extent.
Anthocyanin Market: Growth Favored by the Blue Wine Trend
Food manufacturers are shifting their focus towards additives, ingredients, and colorants such as anthocyanin that promote the health profile of food products, in an attempt to cope up with the changing consumer preferences. One such trend observed across the end-use industry is the blue wine trend. Blue is not approved as a wine color in Spain, which resulted in the initial ban of the blue wine.
After striding through a number of regulations and red tape, it was passed through, being added into the category of ‘other alcoholic beverages’. Made from grapes, having anthocyanin, the high blue pigment in its skin, the wine gets a natural blue color. Progressing its way into the French market, the blue wine trend is likely to push the growth of the anthocyanin market.
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Purple foods are emerging as a popular choice among consumers for both the color and the associated health benefits. The purple food revolution cited across various parts of the world is expected to push the expansion of the anthocyanin market in terms of extraction. Research has revealed that the highest content of antioxidant activity and anthocyanin in tropical purple fruits were java plum followed by sweet potato, tomi-tomi, and Bali grape. As researchers have linked anthocyanin to increased longevity, the purple foods penetration is directly linked to the anthocyanin market growth.
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Anthocyanin Market: Growth Favored by Rigorous RD Investments by Players
Advances in chemical profiling of flavonoids have led the development of antioxidant protective agents against several chronic ailments in recent years. Anthocyanin has been one of the leading emphasized category of flavonoids, where efforts of food researchers have led progress in the epidemiology of anthocyanin, in terms of metabolism and biosynthesis, phytochemical investigations and prevalence in plants. As the demand for natural colorants and additives over synthetic variants continues to spur, anthocyanin has gained widespread acceptance in the global food beverage industry, post-approval as an effective and healthy additive by international regulatory bodies.
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