Oleoresin Market Size Worth USD 709.1 Million By 2025 | CAGR: 4.8%
Published Date : 27 / 03 / 2019 | Report Format: PDF
The global oleoresin market is expected to grow at growth rate of 4.8% to reach USD 709.1 Million by 2025.
Oleoresins are the highest form of concentrated product that is obtained from solvent extraction from a particular plant. This maybe herbs and spices most commonly. They are ground and then extracted using various organic solvents. The end product thus obtained have application in various categories such as a flavor imparting. In addition, it can be used to various applications across the varied industries like pharmaceuticals, food and beverages, and in personal care ingredients. Since it is the concentrated form the original spice, it is much more beneficial in terms of packaging and shelf life as compared to the original source spice.
The industry is majorly driven by the growing application of oleoresin in food and beverage industry such as beverages, sauces, noodles, gravies, poultry and canned products. Further, due to its ease of use and form, it is ideal for export conditions as well. Increasing awareness towards health foods and ethnic diets has also supported the demand for oleoresin chemicals across the globe. However, fluctuation in raw material prices is likely to hamper the market growth.
- Capsicum, turmeric, black pepper, paprika and garlic are primarily categorized under product segment. Paprika products accounted for significant revenue share owing to its wide variety of application in food coating systems, food seasonings, or dressings & dips and other dry soluble seasoning products.
- In addition, rising use of pepper spray has accelerated the requirement for capsicum oleoresin across the globe which is among the key drivers of the pepper spray industry
- In terms of application, flavors are one of the most common application when it comes to the oleoresin industry. This application captured over 35% share of the global Oleoresin market
- Whereas, pharmaceutical application is growing with highest CAGR owing to the increasing use of turmeric variant in this industry
- Geographically, Europe recorded largest revenue share. However, Asia Pacific countries are growing with the fastest CAGR owing to the rising investment by key players in region coupled with increasing product demand from end-users.
- Companies such as Paprika Oleo’s, Ltd., Synthite, Akay, GurjarPhytochem Private Ltd., Universal Oleoresin, Plant lipids, Indo World, Manohar Botanical Extracts Pvt, and Naturite Agro Products Ltd. are known for their presence in this industry.
- Key players are profiled based on attributes such as company overview, financial highlights, SWOT analysis, recent developments and strategic initiatives
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- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
- Black Pepper
MARKET, BY APPLICATION
- Food & Beverages
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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