IMARC Group, a leading market research company, has recently released a report titled “Annatto Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on the global annatto market Share The global annatto market size reached US$ 213.63 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 285.15 Million by 2028, exhibiting a growth rate (CAGR) of 4.80% during 2023-2028.
Annatto refers to a natural colorant and flavoring agent obtained from the seeds of the achiote tree. It has a vibrant yellow to orange-red color and is commonly used to add color to food products, including cheese, butter, snacks, etc. Annatto also contains carotenoids, such as bixin and norbixin, that can aid in protecting cells from damage caused by free radicals. In addition to this, it also comprises tocotrienols, a type of vitamin E that assists in minimizing cholesterol levels and improving heart health. As a result, this natural colorant and flavoring agent finds wide-ranging applications in the pharmaceuticals and food and beverage (F&B) industries across the globe.
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Annatto Market Trends and Drivers:
The escalating demand for processed
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