Global Oleoresins Market Is Expected To Reach Around USD 1.94 Billion By 2026

01-Aug-2019 | Zion Market Research

Zion Market Research has published a new report titled “Oleoresins Market By Product (Paprika, Black Pepper, Capsicum, Turmeric, Ginger, Onion, and Others) and By Application (Food and Beverage, Flavors, Pharmaceuticals, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global oleoresins market was approximately USD 1.22 billion in 2018 and is expected to generate around USD 1.94 billion by 2026, at a CAGR of around 6.01% between 2019 and 2026.

Oleoresins are used as an alternative for ground spices, as they possess standardized aroma and taste. They can be changed according to the specific flavor requirement of different products. They also have a long shelf life, which makes them lesser prone to any kind of bacterial infection. Oleoresins are not used as much as ground spices, but they play a vital role to enhance the fragrance and flavor of food. The oleoresins market is driven by its extensive use in the food and beverage sector, as it’s a popular additive, and the growing product demand in the pharmaceutical industry, as it is used in many drugs nowadays. However, the oleoresins market may be limited due to the increase in the prices of various raw materials, which, in turn, leads to an increase in the production costs. The oleoresins market globally is expected to grow notably in the future, due to the superior properties of oleoresins like long shelf live and flexibility of changing aroma and taste.

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Global Oleoresins Market

On the basis of product, the oleoresins market is divided into onion, black pepper, paprika, capsicum, ginger, turmeric, and others. The paprika segment is expected to contribute the maximum market share in terms of revenue over the estimated timeframe, owing to the increasing use of paprika, as it is used primarily for coloring and add-on flavors in many food products like juices, cheeses, and processed meat. Its extensive use in the food and beverages industry will further drive this segment of the oleoresins market in the future.

By application, the oleoresins market is divided into pharmaceuticals, flavors, food and beverage, and others. The food and beverage segment is expected to hold a major market share in the years ahead. Oleoresins are used in this industry as coloring and flavoring agents along with being used in salad dressings, frying, and baking food items.

Europe is estimated to contribute the maximum revenue share to the global oleoresins market over the projected time period. This can be attributed to the increasing consumption of ethnic foods, which primarily contain oleoresins, in the countries of Hungary, Germany, Romania, and the UK. North America will hold a major share in the global oleoresins market over the forthcoming years.

Some key participants operating in the global oleoresins market are AVT Naturals Products, Adani Pharmachem, Bhoomi Natural Products, Kancor Ingredients, Ozone Naturals, Paprika Oleo’s India, Plant Lipids, Synthite Ingredients, and Universal Oleoresins.

This report segments the global oleoresins market into:

Global Oleoresins Market: By Product

  • Paprika
  • Black pepper
  • Capsicum
  • Turmeric
  • Ginger
  • Onion
  • Others

Global Oleoresins Market: By Application

  • Food and Beverage
  • Flavors
  • Pharmaceuticals
  • Others

Global Oleoresins Market: By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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