Erythrosine Market : Analysed by Business Growth, Development Factors, Applications and Future Prospects 2022-2032
12/20/2022, Newark // Future Market Insights, Inc. //
Erythrosine Market is anticipated to increase at a high CAGR of 3.7% (2022-2032), reaching a value of about US$ 56.68 Mn by 2032.
As modern manufacturers emphasize elevating their product appeal to entice a larger consumer bases, increasing product attractiveness remains paramount. Colorants play a vital role in achieving this, particularly in the food and beverage sector.
Growing consumer inclination towards decorative foods, has further brought food additives and colorants in spotlight. Obtained from coal tar, erythrosine is one such artificial red coloring agent, commonly known as red dye, which finds significant application in cosmetics, pharmaceutical, and food and beverage sector.
It has been validated with claims that food coloring preparations containing erythrosine possess superior coloring features compared to alternative red food colorings which include longevity, lack of bleeding, color strength, and finished product quality.
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The merit of using erythrosine is strongly supported by companies that use erythrosine for food decoration purposes. Precise visual effect and unique shades achieved with erythrosine, which are unattainable by using other food colors, makes erythrosine a preferred choice for end users.
Erythrosine Market: Notable Developments
The key players operating in erythrosine market attempt to focus on changing consumer requirements to gain a competitive edge. Investments centering constant research initiatives regarding the efficacy of erythrosine are also being carried out by leading erythrosine market contributors.
- Food Ingredient Solutions (FIS), a leading erythrosine market player recently partnered with Spain’s BTSA to provide Non-GMO vitamin E developed from IP non-GMO soy and sunflower oil.
- BASF and Sichuan Lutianhua Co., Ltd., a globally recognized erythrosine provider recently signed a MoU to co-develop a pilot production plant, which will substantially reduce carbon emissions and boost energy efficiency in producing dimethyl ether from syngas compared to the tradition.
Sigma-Aldrich Co.LLC., a leading erythrosine market player was founded in 1996. The company’s parent organization is Merck Group and its subsidiaries include Cerilliant Corporation, Cell Marque Corporation, BioReliance Corporation, and more. The company aims to solve life science problems through collaborations with the global scientific community.
Dynemic Products Ltd., another company operating in the erythrosine market was founded in 1990 with its headquarters located in India. The company’s subsidiary includes Dynamic Overseas (India) Pvt. Ltd. The company is one of the largest manufacturer and exporter of food colors across the globe.
Consumer Inclination towards Processed Foods to Foster Growth
Packaged and processed foods are becoming a vital aspect of today’s busy, on-the-go consumers, as they support their fast-paced lifestyles. Packaged and processed foods require effective preservation and stronger shelf appeal to entice consumers. Consumer inclination towards processed foods has shifted the food manufacturers towards synthetic food colorants that allow preservation for a longer period of time, including erythrosine.
As packaged and processed food consumption continues to rise, the application of synthetic food colorants such as erythrosine is likely to gain major impetus, supporting the growth of the erythrosine market.
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Reluctance for Synthetic Additives to Hamper Sales
Although synthetic additives are gaining widespread applicability across a plethora of industries owing to its effective preservation for a longer time and cost-effectiveness over natural dyes, the growing positive perception associated to natural colorants and dyes is expected to hinder the sales of erythrosine. Demand for natural colorants and additives are witnessing a major growth on account of the rapid gravitation towards the health and wellness trend, and shift towards food products having naturally derived ingredients.
Health Adversities to Impact Adoption
Depending on its long term and short term utilization, erythrosine has potential carcinogic and mutagenic effects. Although it is used as a colorant alternative, the health adversaries of erythrosine have resulted in prohibition of the dye in certain regions. For instance, Erythrosine is banned in the US but is legal in Brazil and other countries. As health remains a top priority, it could hinder the adoption of erythrosine.
Erythrosine Market by Category
- Bakery, Snacks, and Cereals
- Candy/ Confectionery
- Fruit Preparations/ Fillings
- Meat, Poultry, Fish, and Eggs
- Potatoes, Pasta, and Rice
- Sauces, Soups, and Dressings
- Pet Food
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