GVR Report cover Oleoresin Market Size, Share & Trends Report

Oleoresin Market Size, Share & Trends Analysis Report By Product (Paprika, Black Pepper, Capsicum), By Application (Food, Beverage), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-774-2
  • Number of Pages: 106
  • Format: Electronic (PDF)

Report Overview

The global oleoresin market size was valued at USD 1.43 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030. Growing demand from healthcare, pharmaceutical, food, and beverage industries are driving forces of the global oleoresin market. Oleoresins are made from varied ingredients and spices, which are found all around the world. It is usually found in semi-solid extract form. A variety of oleoresins has multiple characteristics based on the spice they are derived from. They exhibit numerous therapeutic as well as antioxidant properties as well and are utilized in the pharmaceutical, healthcare, food, and beverage industries.

U.S. oleoresin market size, by product, 2020 - 2030 (USD million)

The U.S. is the largest market for oleoresins in North America contributing to a revenue share of more than 80% in 2021. This high consumption of the product in the U.S. is attributable to high demand from the food, beverage, and pharmaceutical industries. The most extensively consumed oleoresin product is nutmeg oleoresin. It is utilized widely in the food and beverage industry as an additive for the enhancing flavor and fragrance of the product.

Moreover, increasing consumption of organic food & beverages has bolstered the demand for organic spices, which, in turn, is likely to create ample growth opportunities for organic oleoresins in food & beverage applications. Consumers opt for convenience products that have more non-volatile content. Oleoresins have a high content of non-volatile matter as compared to essential oils and are thus gaining popularity among the manufacturers of pharmaceuticals, cosmetics, and flavors & fragrances.

Product Insights

Black pepper products dominated the global oleoresin market with more than 23% revenue share. The growth of the segment is attributable to the extensive use of black pepper in the food and beverage industry. Black pepper is used as a spice, flavoring agent, additive, and as well as coloring agent. It is also used for healing cuts and wounds and also sometimes used in the perfume industry.

Turmeric is the fastest growing product segment exhibiting proliferate growth in terms of revenue during the forecast period. This growth rate is attributed to high demand from the food, beverage, cosmetic, pharmaceutical, and healthcare industries. Turmeric is used as a flavoring agent, coloring agent, antioxidant and healing wounds among others. India is the largest producer and exporter of turmeric globally.

Furthermore, paprika and garlic are utilized extensively in the food industry as an additive.  Paprika is used as a coloring agent as well as for its distinctive taste. It is also consumed in sweets, emulsified processed meats, spice mixtures, sauces, orange juice, and cheese.

In recent years, capsicum oleoresin has gained wide popularity among law enforcement & police agencies owing to its usage as a pepper spray, which acts as a safe and effective means to avoid danger or threat from individuals. Depending on consumer preferences, manufacturers make these spray products in various formulations, distance ranges, types of trigger mechanisms, and spray patterns.

End users in the pharmaceutical and food & beverage industries have entered into long-term supply agreements with capsicum oleoresin processors located across Spain and India in order to ensure a constant supply. However, exporters must comply with ISO standards to determine the capsaicinoid content in the fruit, thereby maintaining the quality of the product.

Application Insights

Food application dominated the market with a revenue share of over 27% in 2021. Its high share is majorly attributable to the extensive use of a variety of oleoresins in food as additives, flavoring agents, coloring agents, antioxidants, and others. Oleoresin gives the food distinct flavor and fragrance making the food attractive, pleasurable, and flavorful.

Global oleoresin market revenue share, by application, 2021 (%)

The pharmaceuticals application segment is expected to exhibit a CAGR of 7.2% in terms of revenue during the forecast period. This is attributable to multiple health benefits of oleoresins and growing investment in pharmaceutical research and development. The pharmaceutical company is utilizing these products to manufacture organic solutions for health problems. Oleoresins only have benefits for consumption and they do not have any side effects in comparison to synthetic medicines. Pharmaceutical industry players are utilizing the therapeutic properties of oleoresins to expand their product portfolio, which has resulted in growing demand from the pharmaceuticals application segment.

Rising consumer awareness regarding the health benefits associated with oleoresins has prompted pharmaceutical drug manufacturers to focus on the utilization of oleoresin extracts for drug formulations. Increased product demand for drug formulations coupled with several health benefits of oleoresins is the major factor projected to drive the market during the forecast period.

Regional Insights

The European region led the market with a revenue share of more than 30% in 2021. This is attributed to the increasing demand for flavors and coloring agents from the food & beverage industry. Another factor contributing to increased demand for the product in the region is the demand from cosmetic, fragrance, and personal care products industries that act as a hefty end-use industry for oleoresins. The shift in consumer predilection toward traditional foods and rising utilization of oleoresins in healthcare remedies and applications are likely to develop as major factors driving the market in this region.

Givaudan, Symrise AG, and MANE are some of the major users of oleoresins based in Switzerland, Germany, and France, respectively. These companies produce a variety of flavors for foods & beverages in Europe as well as globally. Furthermore, the presence of large flavoring industries in the U.K., Spain, and Germany offers higher sales opportunities for the European oleoresin producers. This has bolstered product demand in the region.

Furthermore, Canada and Mexico are some of the major importers of spices worldwide. Garlic, oregano, paprika, capsicum, and black pepper are some of the most commonly used spices in these countries. Robust demand for food additives in these regions is projected to drive the oleoresins market in the long run. Additionally, growing expenditure on plant-derived nutritional and health products by key manufacturers is estimated to trigger market growth in the near future.

An increase in the number of oleoresin processing plants across emerging economies is likely to fuel market growth. Manufacturers are focusing on the export of black pepper owing to high demand for the same in developed countries of Europe and North America.

Growth in the Asia Pacific region is attributed to the increased production rate as well as the use of new production technologies for production. Asia Pacific region is the largest producer and exporter of the product globally. India, China, Vietnam, Indonesia, and Malaysia among others are some of the significant spice-producing countries in the region. The large-scale production of paprika oleoresins across the Asia Pacific region results in price competitiveness. Oleoresins require additional processing, which results in less residual pungency, enhanced stability, and superior color intensity. The stability and compatibility offered by the product across the food & beverage and pharmaceutical applications are expected to result in its increased demand across the region.

Key Companies & Market Share Insights

The global market is highly competitive and has numerous players across the globe. The market is majorly driven by demand from the food, beverage, and pharmaceuticals industry. It is heavily affected by fluctuations and volatility in the raw material market.  For ensuring the constant supply of raw materials, the players have long-term contracts with the raw material producers.

Companies are also focusing on increasing their production capacities by expanding their operations to different regions around the globe. For example, in November 2019, Givaudan expanded its Nantong manufacturing facility in China and doubled its flavor production capacity. The company invested USD 33.149 million in the facility expansion to meet the country's growing demand for food & beverages. Some prominent players in the global oleoresin market include

  • Chenguang Biotech Group Co. Ltd.

  • Kancor Ingredients Ltd.

  • Kalsec Inc.

  • Universal Oleoresins

  • Givaudan

  • Akay Group Ltd.

  • Synthite Industries Ltd.

  • AVT

  • Indo-World

  • Paprika Oleo's India Limited

  • Paras Perfumers

  • Manohar Botanical Extracts Pvt. Ltd.

  • Naturite Agro Products Ltd


  • All-Season Herbs

  • TMV Aroma

  • Plant Lipids

  • Ozone Naturals

 Oleoresin Market Report Scope

Report Attribute


Market size value in 2022

USD 1.72 billion

Revenue forecast in 2030

USD 2.60 billion

Growth rate

CAGR of 6.9% from 2022 to 2030

Base year for estimation


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million, volume in tons, and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; UK; Spain; France; Germany; Belgium; Austria; Italy; Netherlands; Switzerland; China; India; Japan; Vietnam; Indonesia; Sri Lanka; Oceania; Thailand; Malaysia; Bangladesh; Hong Kong; South Korea; Taiwan; Singapore; Australia; Brazil; Argentina; South Africa; Saudi Arabia; UAE; North Africa

Key companies profiled

Chenguang Biotech Group Co. Ltd.; Kancor Ingredients Ltd.; Kalsec Inc. Universal Oleoresins; Givaudan; Akay Group Ltd.; Synthite Industries Ltd.; AVT; Indo-World; Paprika Oleo's India Limited; Paras Perfumers; Manohar Botanical Extracts Pvt. Ltd.; Naturite Agro Products Ltd; MRT GREEN PRODUCTS; All-Season Herbs; TMV Aroma; Plant Lipids; Ozone Naturals

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global oleoresin market report based on product, application, and region:

  • Product Outlook (Revenue, USD Million, Volume, Tons 2018 - 2030)

    • Paprika

    • Black Pepper

    • Capsicum

    • Turmeric

    • Ginger

    • Garlic

    • Onion

    • Seed Spice

    • Herbs

    • Others

  • Application Outlook (Revenue, USD Million, Volume, Tons 2018 - 2030)

    • Food

    • Beverages

    • Fragrances

    • Pharmaceutical

    • Nutraceutical

    • Others

  • Regional Outlook (Revenue, USD Million, Volume, Tons 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Spain

      • France

      • Germany

      • Belgium

      • Austria

      • Italy

      • Netherlands

      • Switzerland

    • Asia Pacific

      • China

      • India

      • Japan

      • Vietnam

      • Indonesia

      • Sri Lanka

      • Oceania

      • Thailand

      • Malaysia

      • Bangladesh

      • Hong Kong

      • South Korea

      • Taiwan

      • Singapore

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • North Africa

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