The global oleoresin market size was estimated at USD 1.44 billion in 2018 and is expected to register a CAGR of 4.7% over the forecast period. Rising consumption of processed meat, confectionary, and baked food products is likely to boost the demand for oleoresin as a food flavoring agent. Demand for food additives and increasing number of multi-cuisine restaurants across the globe will also boost product consumption over the forecast timeframe.
Paprika oleoresin finds application in food industry owing to its unique coloring properties and differentiating pungent taste. It is widely utilized in emulsified processed meats, sweets, sauces, spice mixtures, orange juice, and cheese. Europe is among the major markets for paprika oleoresin.
Rising gastrointestinal diseases are expected to increase the product demand due to its anti-inflammatory and anti-oxidant properties. Chilli oleoresins are also used in pharmaceutical applications due to their analgesia, antioxidant, anti-cancer and anti-inflammation features. They help in reducing the free radicals in human body.
In addition, the product extracted from dried berries plant stimulates the appetite and also provides relief from nausea, dysentery, and dyspepsia. Owing to its anti-inflammatory and insecticidal properties, the product acts as a nervous system depressant and also assists in controlling fever and pain.
Black pepper is widely utilized in food products owing to its pungent taste and spicy aromatic properties. Black pepper oleoresin is generally prepared from ethanolic extraction combined with a small proportion of dried ground black pepper. Rising demand for this product owing to its antioxidant & antimicrobial properties is expected to positively affect the overall oleoresin market over the forecast period. Capsicum is widely sold across the developed countries of Europe and America owing to its demand as a food supplement.
In addition, wide application in pharmaceutical is expected to further fuel the market growth over the forecast timeframe. The product is likely to witness a significant growth in demand over the forecast period owing to its inclusion in the Italian positive list. India is one of the major manufacturers and exporters of turmeric oleoresins. High demand for turmeric oleoresin in cosmetics and personal care sectors is projected to drive market in Asia Pacific.
Turmeric oleoresins are widely utilized in healthcare industry to treat several skin diseases. Onion is used as a flavoring agent in canning industry mainly for pickles, meat sauces, seasonings, and alcoholic as well as soft drinks. The rising application of onion oleoresins in food & beverage is propelling the market growth. The growing food & beverages sector, especially in Asia Pacific, is predicted to boost the market.
One of the important factors contributing to the increasing product demand is its lipophilicity property, which allows food manufacturers to formulate a variety of food products. Formulators are focused on offering halal and kosher certified oleoresins with customized specifications (including color, physical appearance, and absorbency ratio) along with a variety of compound content. Burgeoning demand from food & beverage industry for the use of natural colors and flavors is projected to bolster the product demand.
Rising consumer awareness regarding the health benefits associated with the product has prompted pharmaceutical manufacturers to focus on the incorporation of oleoresin extracts for formulating drugs. The various health benefits of the product coupled with increased product demand for drug formulations are factors projected to drive the market over the forecast period.
Berry oil oleoresin that is manufactured in small quantities contains glycerol laurate and finds extensive application in perfumery. The pungent smell of the product has increased the scope of their application in perfumery industry.
In 2018, North America emerged as the second-largest market due to high product demand from various end-use industries, such as food & beverage, pharmaceutical, and cosmetics. Oleoresins including paprika, black pepper, and ginger are extensively utilized as coloring and flavoring agents in food & beverage sector.
Turmeric oleoresins find large-scale utilization in healthcare sector for treating various skin diseases. Growing consumer awareness regarding the various health benefits associated with oleoresin-infused products is projected to drive the market in this region.
Various end-use industries in Europe such as personal care & cosmetics, perfumery, and pharmaceutical extensively incorporate oleoresins in their products. Austria, U.K., Germany, Belgium, and Spain are some of the major importers in Europe. Shifting consumer preference toward ethnic food and ascending product demand in healthcare applications are expected to emerge as the major factors driving the market in this region.
Major companies have established their dominance in the market by higher integration throughout the value chain. These companies also have long-term contracts with raw material suppliers as well as research institutes for product innovation. Companies are focusing on increasing their production capacities by expanding their operations to different regions.
The key companies in the market are Universal Oleoresins, Ungerer & Company, Akay, Synthite, AVT Natural Products Limited (AVT NPL), Indo World, Paprika Oleo’s, Paras Perfumers, Manohar Botanical Extracts Pvt. Ltd., Ambe Group, Gurjar Phytochem Pvt. Ltd., MRT Organic Green Products, Nature Plus Herbal Cosmetics, Cymbio Pharma Pvt. Ltd., All-Season Herbs Pvt. Ltd., Asian Oleoresin Company, Bioprex Labs, TMV Group, Plant Lipids, Ozone Naturals and Hawkins Watts.
|
Attribute |
Details |
|
Base year for estimation |
2018 |
|
Actual estimates/Historical data |
2014 - 2017 |
|
Forecast period |
2019 - 2025 |
|
Market representation |
Volume in Kilotons, Revenue in USD Million, and CAGR from 2019 to 2025 |
|
Regional scope |
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa |
|
Country scope |
U.S., Canada, Mexico, Germany, U.K., France, Spain, Belgium, Austria, China, India, Japan, Vietnam, Indonesia, Sri Lanka, Oceania, Brazil, and South Africa |
|
Report coverage |
Volume forecast, revenue forecast, competitive landscape, growth factors and trends |
|
15% free customization scope (equivalent to 5 analysts working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global oleoresin market report on the basis of product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Paprika
Black Pepper
Capsicum
Turmeric
Ginger
Garlic
Onion
Others
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Food & Beverages
Flavors
Pharmaceuticals
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Spain
Belgium
Austria
Asia Pacific
China
India
Japan
Vietnam
Indonesia
Sri Lanka
Oceania
Central & South America
Brazil
Middle East & Africa
South Africa
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
