Global paprika market is expected to witness strong growth over the forecast period on account of increasing demand for spice oils from food industry. Rising consumer awareness towards health benefits of paprika over traditional raw spices is further expected to drive the market over the projected period. Demand for specialty products has been increasing on account of growing consumer preference towards health benefit products in addition to coloring and flavoring properties, which is expected to open several growth opportunities for paprika market over the forecast period. Increasing demand for coloring foodstuff is one of the key driving factors for the market. Demand for paprika is also increasing owing to its special coloring properties which is due to carotenoid pigments content, which add major health benefits in wide range of food products. However, paprika harvesting has been replaced by cotton owing to high profit margins offered by cotton, which is expected to result in low production of paprika in major producing countries including India and China. This trend is expected to hinder the market growth over the forecast period.
Based on product type, paprika market can be segmented into vegetable paprika, spice powder, colorant powder, and paprika oleoresin. Major applications of paprika include cheese, orange juices, spice mixtures, snack seasoning, sausage products, soups, emulsified processed meat and sweets. Spice mixtures, snack seasoning and sausage products are the major application segments for paprika oleoresins market over the past few years on account of increasing demand for coloring agents and flavoring agents. Shift in demand from essential oils to oleoresins is further expected to drive the market growth in these applications over the forecast period. Huge availability of paprika in India and China coupled with major benefits during transportation resulted in end-users to shift their demand towards paprika oleoresins, which is expected to complement the market growth over the next seven years.
Major end-use industries of paprika are food manufacturing and pharmaceutical industries. Food manufacturing industry has been dominating paprika market over the past few years on account of increasing application of paprika in dairy, savory, meat, beverages and confectionery segments which include cheese, sausage, spice blends, juices and sweets among many others. Pharmaceutical industry is expected to witness considerable growth over the next seven years on account of increasing paprika application in some medicinal applications owing to health benefits associated with it.
Europe was the largest market for paprika in 2013 followed by Asia Pacific and North America. Strong demand for spice oils coupled with coloring food stuff is the key factor to drive the market growth in Europe. India is the major exporter of paprika to European countries. Within Europe, Spain is the major producer but major demand is fulfilled by imports from India. Asia Pacific was the second largest market for paprika with two largest producing countries including India and China. Brazil, India, China and the U.S. are the major exporting countries at global level.
Some prominent players of paprika market include Chr. Hansen, EVESA, Ingredientes Naturales Seleccionados, Synthite Industries Ltd, Kalsec Natural Ingredients, Kancor Ingredients Limited, Plant Lipids and Naturex.
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