The global anthocyanins 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 2015, 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 anthocyanins market.
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TMR projects the global anthocyanins market to reach US$387.4 mn by 2021 from US$300 mn in 2015. Over this period, the market is forecast to report a CAGR of 4.4%. Among the key application segments, the food and beverages industry is likely to lead the market in 2015. The trend is likely to remain unchanged through the course of the forecast period. Regionally, the Europe anthocyanins market held the leading share in the global market in 2015. TMR projects the market to remain dominant through the course of the forecast period.
Anthocyanins 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, anthocyanins also help in improving microcirculation of the body. Anthocyanins are expedite metabolism process, the rising awareness about which is likely to bode well for the market. Anthocyanins also fight oxidative stress, which can escalate heart ailments. Furthermore, consumption of anthocyanins can help reduce obesity in humans. TMR expects that the market will significantly gain from the rising awareness about health benefits offered by anthocyanins. Additionally, the steadily rising demand from India, China, Brazil, Argentina, and Indonesia will steer growth in the global anthocyanins market.
Anthocyanins are extracted from natural resources, which makes them difficult to work with. Raw materials used for deriving anthocyanins come at a higher price than those used for extracting artificial colorants. Besides this, anthocyanins lack color intensity unlike their synthetic counterparts. Additionally, the synthetic variants help maintaining the vibrancy of the color. Therefore, the rising demand for synthetic anthocyanins may hamper the global anthocyanins market to an extent.
Furthermore, factors such as the absence of a wide ranging color pallet and implementation stringent guidelines controlling the use of food additives may negatively the market the market. Nonetheless the demand for natural food colors is likely to remain steady through the forecast period. Expansion of the food and beverage industry and the steady use of anthocyanins in the sector will enable the market sustain growth in the coming years.
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