Achiote powder is extracted from the seeds of ever green shrub Bixa Orellana, commonly known as annatto. Achiote is traditionally being used as spices, food color, and medicinal purpose and as commercial dye. Achiote is originated from Mexico and being used for decoration, rituals and in paintings since 16th century. It is traditionally being used as coloring and flavoring agent in Latin America.
In central and South America seeds were originally used to make red body painted and lipstick, and hence achiote is sometimes called as lipstick tree. Oil can also be extracted from achiote and used in different dishes for giving them nice color. Apart from seeds plant leaves have medicinal properties and also used in skin diseases treatment.
As looking at achiotes properties and important uses achiote powder global market demand is high.
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Achiote PowderMarket Segmentation
Achiote powder market is segmented on the basis of its applications in different industries. In condiments or spices, as a dye in textile industries, as food colorant in bakery and other food products, in cosmetics and in Pharmaceutical industries. Achiote powder is traditionally being used and sold as spice in the South American market. As containing color pigments it is being used in textile industry as natural dying agent .Uses of achiote powder in cosmetic industry is quite popular as traditionally being used in lipsticks as well as in skin infections. It has been popular as medicine recently due to its therapeutic properties like antifungal, antimalarial laxative, antibiotic and many more, and its medicinal properties have derived its market demand.
Achiote powder market is further segmented on the basis of its forms. Achiote powder is available in market in different forms as water soluble extracts, mainly used in the water based food items and water based products. Another form is oil soluble extract for oil soluble products and cosmetics. And dry spray form is also available in market.
Archiote powder market is later segmented on the basis of region asLatin America, North America, Europe, Middle East and Africa, Asia pacific excluding Japan and Japan. Where Peru from America and Kenya from Africa are the major exporter of achiote. Japan possess major import market for achiote powder as all synthetic coloring is banned in japan.
Achiote Powder Global Market Trends
Achiote powder possess significant demand in all the regions due to its therapeutic, food ingredient applications. Increasing emphasis on Ayurveda medicines, natural dyes, and natural food colorants is a major trending factor for achiote powder market.
Also banning of certain synthetic pigments/colorants by major players like Japan. And research and development in plant medicines sector is another market trend setter for achiote powder market due to its therapeutic properties.
Achiote Powder Market Drivers
Achiote powder is in high demand due to its applications in several industries. Principle factor driving market demand are continuous rising demand for natural colorants products due to rising regulations on uses of synthetic color agents in food and other materials by various governments. Also growing health consciousness in consumers and hence rising market demand for natural products based cosmetics and pharmaceutical products becoming another market driver for achiote powder.
In countries like Peru achiote powder uses and production is high as traditionally known for its medicinal properties. In Japan, Europe and North America markets achiote powder is highly sought due to high regulated uses of synthetic colorants. In Japan market the uses of synthetic colorants are banned and hence recent year’s Japanese market has grown as another major exporter of achiote powder. In Europe Netherlands and UK are the major users of achiote powder as a colorant for hard cheese and uses in margarine. In North America U.S. market is the major exporter of achiote powder from Peru.
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Achiote PowderMarket Key Players:
Achiote tree has been traditionally grown and marketed in Latin American countries, however Peru and Kenya are the major exporters of the achiote powder.Small volume producers and exporters market includes the Dominican Republic, Jamaica, Colombia, Angola in Africa, and India, Thailand, Sri Lanka, and the Philippines in Asia.
Key players operating in achiote powder market include Brownana Gh Ltd.,MG Natura Peru SAC, Mama Sita’s, Marven bio chem, Amerilure, Kolorjet Chemicals Pvt.Ltd., Denton Spice Company, SENSIENT Pharmaceuticals etc.