Safflower is an annual plant flourish in hot and dry condition, primarily in the western great plain area of the United States. It is also named as Catharanthus tinctorius L. (Botanical Name), Sallflower, False Saffron or Bastard Saffron (because of Saffron like property), American Saffron, Alazor, etc. It is from Asteraceae family and close relative of Sunflower. Safflower extract is a yellow pigment extracted from Safflower soluble in water. Safflower extract is derived by the process of extracting, filtrating, purifying, concentrating, sterilizing, spraying & drying. Traditionally, safflower extract was only used for red and yellow dyes for textile and food industry. But now a days it has a number of usage like in cooking oil, birdseed, superior quality paints and varnishes, infant formulas, cosmetic industry, protein supplement for livestock, beverages, pharmaceutical industry, Safflower extract contain three types of pigments on the basis of composition which are extracted and separated by using different chemicals:
- Red Carthamin
- Safflower yellow A
- Safflower yellow B
Safflower extract contain about 0.83% of red cathamin and 30% of yellow cathamadin which are extracted either by thin layer chromatography or spectrophotometric measurement. Monosaturated fatty acid (oleic) and Polysaturated fatty acid are the two type of oil present in safflower plant which is responsible for lowering the cholesterol level in the blood.
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Market Dynamics:
Major drivers of the Safflower extract market is the rising demand of processed foods. The increasing demand for organic and natural ingredients in processed foods is a very important driving factor. Other very important factor for the growth in safflower extract market is the multi-functionality of the product such as medicinal and colorant property. This replaces a lot of other products used in processed foods which can cause ill effects to human health. In various studies, it is found that safflower can cause adverse effect such as bleeding problems (hemorrhagic diseases, clotting disorders and intestinal ulcers), allergy, increase in sugar level in diabetic patients and miscarriages leads to restraining the market of safflower oil. The major factors which are trending the demand of safflower extract are heath consciousness of people, demand for organic food, growing cosmetic industry, etc.
There is an opportunity for companies in this industry to expand their product in transgenic safflower plant extract for producing human insulin which is having major demand in the market.
Market Segmentation:
Safflower extract market segmentation is done on the basis of nature of offering, application and region. On the basis of nature of offering safflower extract market is segmented as dried powder, decoction and oil. Among these segments safflower oil is represents largest market share as it has massive use in various sectors such as pharmaceutical, food and manufacturing. Safflower extract market is segmented as pharmaceutical industry, food and beverages industry, dyes, cosmetic industry and textile industry on the basis of application. Among these industries pharmaceutical industry represents largest market share followed by food and beverages industry.
Regional Outlook:
Safflower extract market is segmented on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Middle East & Africa (MEA) and Japan. The leading producers of safflower extract are India, The United States and Maxico followed by Ethiopia, Kazakhstan, China, The Arab World, Argentina, Tanzania and Australia. More than 60 countries produce safflower plant but India is having half of the market share of the safflower extract mainly for domestic vegetable oil market.
Market Player:
The key players in safflower extract market includes Naturalin, Quality Product Lab Pvt. Ltd., New Way Herbs, EPC Natural Products Co. Ltd., Shanghai Youngsun foods, Cibaria International, Aktivv LLP, Ramazanogullari, Global oil trading and services, Quality brands, Galp distribution oil Espana, Algodones Y Aceites Mexicanos, Los Charitos, etc.
The Report covers exhaustive analysis on:
- Safflower Extract Market Segments
- Safflower Extract Market Dynamics
- Historical Actual Market Size, 2013-2015 for Safflower Extract Market
- Safflower Extract Market Size & Forecast 2016 to 2026
- Value Chain
- Safflower Extract Market Current Trends/Issues/Challenges
- Competition and Companies involved in Safflower Extract Market
- Safflower Extract Market Drivers and Restraints
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Regional analysis for Safflower Extract Market includes:
- North America
- US
- Canada
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Western Europe
- Germany
- Italy
- France
- U.K.
- Spain
- Nordics
- Benelux
- Eastern Europe
- Russia
- Poland
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Rest of MEA MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics of the Global Safflower Extract industry
- In-depth market segmentation of the Global Safflower Extract industry
- Historical, current and projected market size in terms of volume and value of Global Safflower Extract industry
- Recent industry trends and developments of Global Safflower Extract industry
- Competitive landscape of Global Safflower Extract industry
- Strategies of key players and product offerings in the Global Safflower Extract industry
- Potential and niche segments/regions exhibiting promising growth in Global Safflower Extract industry
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint.