Crocetin Esters Market Size To Reach $606.0 Thousand By 2030

May 2023 | Report Format: Electronic (PDF)

Crocetin Esters Market Growth & Trends

The global crocetin esters market size is expected to reach USD 606.0 thousand by 2030, resistering CAGR of 5.8% during the forecast period from 2023 to 2030, as per the new report by Grand View Research, Inc. This is attributable to the increasing demand for natural and healthy ingredients in the food industry propelling the use of natural colorants. This is driven by the increasing awareness of potential health risks associated with synthetic colorants.

Crocetin is a natural colorant widely used in the food industry. It is well-known for giving a yellow to orange-red color to dairy products, beverages, baked products, confectionery, sauces and condiments, and ready-to-eat meals and is an attractive alternative to synthetic colorants. Moreover, crocetin esters have been found to have potential health benefits, such as antioxidant and anti-inflammatory properties, which further drive its use in food products.

Leading natural food color manufacturers, such as ADM, Chr. Hansen Holding A/S, and Sensient Colors LLC, are adopting the green label initiative. For instance, in April 2021, Chr. Hansen Holding A/S acquired SECNA GROUP S.L, a group holding multiple food and beverage firms, to expand its product portfolio and enhance its natural food color production. With this acquisition, Chr. Hansen Holding A/S Natural Colors has expanded its range of pigment products while providing SECNA GROUP S. L’s customers and suppliers with access to a broader portfolio, advanced technologies, and a larger market presence. This move is expected to further strengthen Chr. Hansen Holding A/S Natural Colors' position as a leading provider of natural color solutions in the global market.

Additionally, the production of crocetin esters is a labor-intensive and time-consuming process, which makes it a costly ingredient for manufacturers. The significant expense associated with producing crocetin esters creates a major obstacle for manufacturers who intend to incorporate this chemical into their products.

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Crocetin Esters Market Report Highlights

  • Pharmaceuticals emerged as the fastest-growing application segment with a CAGR of 3.2% from 2023 to 2030, due to its wide usage in various pharmaceutical applications such as coloring agents

  • North America emerged as the fastest-growing region with a CAGR of 6.7% from 2023 to 2030, due to rising cases of chronic diseases and cancer in North America. Crocetin esters such as crocetin glycosides have protective effects against cancer and chronic diseases such as diabetes, fatty liver, and autoimmune diseases

  • Manufacturing is involved in product expansion strategies in order to gain a competitive edge in the market space. For instance, Kemin Industries has added Organic KEM GLO to its extensive portfolio of carotenoids also known as pigments. Organic egg farmers can enhance the color of egg yolks with the help of organic KEM GLO, a USDA-certified organic ingredient

  • The growing demand for functional and processed food owing to the hectic lifestyles of consumers around the world is expected to positively impact market growth over the forecast period

  • Major raw material suppliers include Bioway (Xian) Organic Ingredients Co., Ltd., Shandong Minglang Chemical Co., Ltd., Kemin Industries Inc., DSM, and Qingdao Haosail Science Co., Ltd., among others. The manufacturing process of Crocetin Esterschemicals involves extraction and purification of Crocetin Esters from the saffron flower using two standard methods, namely solvent extraction, and chromatography. Solvent extraction is used to isolate and purify specific compounds from a complex mixture

Crocetin Esters Market Segmentation

Grand View Research has segmented the global crocetin esters market report based on application, and region:

Crocetin Esters Application Outlook (Revenue, USD Thousand; Volume, Kg, 2018 - 2030)

  • Functional Food & Beverage

    • Dairy

    • Confectionery

    • Convenience

    • Beverages

    • Other Functional Food &Beverage

  • Pharmaceuticals

  • Other Applications

Crocetin Esters Regional Outlook (Revenue, USD Thousand; Volume, Kg, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

List of Key Players in the Crocetin Esters Market

  • Chengdu biopurify

  • Chengdu Gelipu Biotechnology Co., Ltd.

  • Tokyo Chemical Industry Co., Ltd.

  • Amadis Chemical Company Limited

  • Hunan Jiahang Pharmaceutical Technology Co., Ltd.

  • Cayman Chemical

  • Biosynth

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